U.S. stock index futures were lower Monday after the World Bank
The World Bank reduced its growth forecasts for the East Asia and Pacific region and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast.
There are no economic reports scheduled for release and the bond market is closed in observance of the Columbus Day holiday. Trading volume is also likely to be thin.
Stocks rallied on Friday to finish higher for the week after new figures showed the unemployment rate fell to 7.8 percent in September, the first time it dipped below 8 percent in nearly four years. The Dow finished at its best level since December 2007.
Euro zone finance ministers meet in Luxembourg and investors will be closely watching for any clues on whether Spain is any closer to formally requesting a bailout. The European Stability Mechanism (ESM), Europe’s permanent rescue mechanism, enters into force on Monday. Spain is widely expected to be the first country to seek help from the fund.
Concerns about a
Wal-Mart and American Express announced that they will introduce a reloadable prepaid card for shoppers.