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US Stocks to Open Mixed Ahead of Treasury Data

CNBC.com and Reuters
Monday, 12 Mar 2012 | 6:28 AM ET

U.S. stock index futures pointed to a mixed open on Wall Street on Monday, ahead of the Treasury Department’s release of budget figures for February.

The U.S. Treasury Department’s monthly budget for February will be issued at 2 p.m. New York time. Economists polled by Briefing.com forecast a $229 billion deficit, against a January deficit of $222.5 billion.

The Treasury will also sell $32 billion in 3-year bond notes on Monday, with results available shortly after 1 p.m.

The U.S. Conference Board will release its employment trend index for February at 2 p.m. In January, the index read 105.8.

The earnings calendar is light, with Urban Outfitters releasing its quarterly numbers after Monday’s closing bell.

Other events on Monday include the start of a two-day conference in New York between the Bretton Woods Institutions, the World Trade Organization and the United Nations.

A previously announced $25 billion settlement between five major banks accused of abusive mortgage practices will be filed in federal court on Monday, people familiar with the matter said.

European stocks rose slightly in early trading on positive investor sentiment about the Greek debt swap deal, which was secured on Friday.

However, concerns about the sustainability of rapid Chinese growth provided downward pressure on shares. Concerns focused on China’s trade balance, with data published on Friday showing a $31.5 billion deficit in February.

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