U.S. stock index futures hovered around the flatline Tuesday after a holiday weekend, as investors looked ahead to a key manufacturing report and an upcoming meeting of ECB policymakers.
Last week, all three major indexes logged their first gains in August since 2009, lifted by Federal Reserve Chairman Ben Bernanke’s Jackson Hole speech on Friday, in which he reiterated the central bank was ready to act if necessary.
Bernanke also said the Fed would continue to hold interest rates at near-zero, and indicated this was unlikely to change before 2014 at the earliest.
Meanwhile, ratings agency Moody's changed its outlookon the EU to "negative," warning it might downgrade the bloc if it decides to cut the zone's largest members: Germany, France and the Netherlands. The agency's move will add further pressure on the ECB when it releases details of a new debt-buying plan at its policy meeting later this week.
European shares traded lower following Moody's outlook and ahead of the ECB meeting.