Futures Lower Amid Renewed EU Concerns
U.S. stock index futures were lower Monday, tracking losses in European shares, after the G20 told Europe over the weekend it must commit mor ecapital to fight the debt crisis before seeking more help.
European shares slumped after members of the Group of 20 leading economies told Europe it must raise extra funds to combat the ongoing debt crisis if it wants more aid from the rest of the world, adding pressure to Germany to drop its opposition to a bigger European bailout.
Euro zone countries pledged to reassess the strength of their bailout fund in March, which could clear the way for other G20 countries to give more funds to the IMF.
On the economic front, the National Association of Realtors will issue pending home sales data for January at 10.00 am ET. Analysts polled by Briefing.com predict a 1.0 percent rise, compared with a 3.5 percent drop in the December.
Apple was largely unchanged even after BMO raised its price target on the iPad maker to $590 from $545.
Lowe's rallied after the home-improvement chain posted higher-than-expected sales, thanks to the warm weather that prompted more homeowners to take up renovation projects.
Sprint's board of directors decided to walked away from a nearly finalized dealto acquire MetroPCS . The dropped deal comes on the heels of AT&T’s proposed acquisition of T-Mobile last year, which failed due to opposition from government regulators.
Disney edged higher after Goldman Sachs has upgraded the media conglomerate to "conviction buy" from "neutral", citing ESPN's performance in addition to strength in theme parks.
—Follow JeeYeon Park on Twitter: @JeeYeonParkCNBC—
Coming Up This Week:
MONDAY: Pending home sales index, Dallas Fed mfg survey; Earnings from Priceline.com
TUESDAY: Durable goods orders, S&P Case-Shiller home price index, consumer confidence, Fed's Pianalto speaks, JPMorgan Chase investor day; Earnings from Office Depot, DreamWorks Animation
WEDNESDAY: Weekly mortgage apps, GDP, Fed's Fisher speaks, Chicago PMI, Bernanke speaks, oil inventories, Fed's Plosser speaks, Beige Book; Earnings from Costco, Staples
THURSDAY; Fed's Pianalto speaks, jobless claims, personal income and spending, ISM mfg index, construction spending, Fed's Lockhart speaks, Fed's Williams speaks, auto sales, chain store sales, EU summit; Earnings from Big Lots, Kroger, Wendy's
FRIDAY: Fed's Bullard speaks, Yelp set to trade
More From CNBC.com:
- 150 Years of Toys—From Silly Putty to Hot Wheels
- London’s Luxury Olympic Rentals
- Best Picture Winners With the Biggest 'Oscar Bump'