Torsten Asmus
Stock index futures opened slightly lower Monday after three major averages capped off last week with gains on favorable inflation data, while market participants look ahead to corporate earnings.
The benchmark S&P 500 (SPX) was 0.13% lower, the blue-chip Dow (INDU) was down by 0.22% and the tech-heavy Nasdaq Composite (NDX:IND) was down 0.02%.
On the week, the Dow was up 2.3%, the best weekly gain in 4 months, Nasdaq rose 3.3% and the S&P 500 was up 2.4%.
Treasury yields declined Monday after yields closed higher on Friday. The yield on the 10-yearTreasury (US10Y), which influences mortgage rates, fell 4 bps to 3.78% and 2-year treasury (US2Y) yield was down 3 bps to 4.72%.
As Fed officials entered the quiet period on July 15 ahead of the July 25-26 meeting, investors will look ahead to retail sales and industrial production on Tuesday and housing data on Wednesday and Thursday.
On the economic data front, investors will be eyeing NY Empire State Manufacturing Index.
More on the Upcoming week:
