Futures Mixed After Worst Day of Year
U.S. futures were mixed Monday as Wall Street seeked to recover from its worst month in two years and worst trading day of 2012, but concerns over a global growth slowdown and uncertainty surrounding the European debt crisis kept a lid on gains.
All three major indexes plunged more than 2 percent each last Friday, while the Dow wiped out all its gains for 2012.
Friday’s data showed the U.S. added just 69,000 new jobs in May, while unemployment increased to 8.2 percent, fueling speculation that the Federal Reserve may commence another round of quantitative easing.
Monday will be a light day for both corporate and macroeconomic data. The only major government report due out is on factor orders for April, and will be released at 10 a.m. ET. Analysts polled by Briefing.com forecast a 0.1 percent rise in orders, versus a 1.9 percent fall in March.
European shares were lower early on Monday in thin trade, with U.K. stock markets closed due to the extended bank holiday for the Queen’s Diamond Jubilee.
Bank of America gained after Evercore raised its rating on the firm to "overweight" from "equal-weight."
Chesapeake Energy gained after the company agreed to replace four of its current board members, while Aubrey McClendon will remain CEO. Southeastern Asset Management, Chesapeake's largest shareholder, will nominate three of the new directors, while billionaire investor Carl Icahn and his affiliates will pick the fourth.
Among earnings, retail chain Dollar General is scheduled to report after the closing bell.
—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
Coming Up This Week:
MONDAY: Factory orders; Earnings from Dollar General
TUESDAY: ISM non-mfg index; earnings from Hovnanian
WEDNESDAY: Weekly mortgage apps, ECB announcement, productivity and costs, oil inventories, Fed's Beige Book, Fed's Lockhart speaks, Fed's Lockhart speaks, Fed Basel III vote
THURSDAY: Bank of England announcement, jobless claims, Bernanke speaks, quarterly services survey, Fed's Lockhart speaks, Fed's Kocherlakota speaks, consumer credit; Earnings from Lululemon Athletica, JM Smucker
FRIDAY: International trade, wholesale trade, Fed's Kocherlakota speaks, Chesapeake annual meeting
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