US stock-index futures declined, as investors assessed gains, after equities extended their longest weekly winning streak of 2015.
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Standard & Poors 500 Index contracts expiring next month slipped 0.3 percent to 2,087.5 at 7:29 a.m.in New York. Futures on the Dow Jones industrial average gave up 40 points.
The S&P 500 and the Nasdaq Composite also dropped 1 per cent.
The S&P 500 lost 8.92 points, or 0.42 per cent, to 2,090.28. “Bond and stock prices will decline when the Fed makes that first announcement, but ultimately, stocks will thrive because it will prove the United States economy is healthy enough to stand on its own”. “But outstanding issues tied to stateside manufacturing, U.S. multinational earnings, fiscal reform, stimulus and austerity overseas along with geopolitical factors may still keep the Fed from raising the benchmark rate when the FOMC next meets in December”. The yield on the 10-year Treasury note rose 3 basis points to 2.36%. Boston Fed President Eric Rosengren kicks off a busy week for Fed speakers with a speech on the economic outlook scheduled at noon Eastern Time in Newport, R.I.
Among individual stocks, shares of Priceline (PCLN) are likely to come under pressure after the online travel site operator reported better than expected third quarter results but provided disappointing guidance.
Traders were also digesting a downgrade in the global economy for the remainder of 2015 and next year and weak data out of China earlier today, according to Alex Eppstein of Schaeffer’s Investmet Research.
“People sort-of stewed on it over the weekend that we’re facing a rate hike in December”, said Robert Pavlik, who helps oversee $US9.1 billion as chief market strategist at Boston Private Wealth. Dow components IBM and Caterpillar were down more than 2 percent. Berkshire Hathaway’s Class B Shares were down 1.7%.
Tinder parent Match Group Inc. on Monday set a range for its initial public offering of $12 to $14 (http://www.marketwatch.com/story/match-group-sets-ipo-price-range-seeks-to-raise-5367-million-2015-11-09), as it said it was seeking to raise $536.7 million. About 71 percent of S&P 500 companies that have reported have beaten earnings forecasts, while only 44 percent have topped sales expectations.
Data from China, one of the one of the U.S.’s biggest trade partners, showed a fall in exports and imports in October left it with a record high trade surplus.
The Nikkei 225 index finished almost 2% higher, benefiting from a weak Japanese yen. The broader Stoxx Europe 600 was down 1 per cent.
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Other markets: In China, the Shanghai Composite Index closed up 1.6%, climbing to its highest level since late August. On Monday, the dollar traded at ¥123.49, versus ¥123.22 in late North American trade on Friday.
