Stocks are down slightly before a flood of economic news and corporate earnings this week.
Stock futures hit their lows late last night as worries about China’s economy and a strong Japanese yen triggered losses of 2 percent to 3 percent in Asia. But Europe received a boost from earnings and merger news, lifting markets in Frankfurt, Paris, and London by more than 0.25 percent. S&P 500 futures have also recovered, and are now down by less than 0.2 percent. Treasury bond yields are also edging lower.
Pending home sales at 10 a.m. ET are the only item on today’s agenda, but the calendar grows more active each day. Tomorrow brings consumer confidence data, the Case-Shiller index of home prices and economic sentiment data from Europe. Wednesday is packed with private-sector payrolls, second-quarter gross domestic product and the Federal Reserve’s interest-rate decision.
— Option Monster