U.S. stock-index futures traded lower on Monday, with risk aversion growing due to geopolitical concerns in Iraq, and to a lesser extent, Ukraine.
Stock futures held their losses after U.S. economic reports, which had manufacturing activity in the New York region holding steady in June after hitting a near four-year high in May, and industrial production up 0.6 percent in May versus a 0.3 percent drop in April.
Other economic reports still expected include the NAHB housing market index.
Over the weekend it was reported that Sunni insurgents in Iraq had made further progress in advancing on Baghdad. There are concerns the conflict may widen beyond Iraq, with reports that Iran has sent 2.000 advance troops to Iraq, and that the White House is preparing to open talks with Iran about how to provide support to the Iraqi government.
The talks are expected to begin this week and mark a rapid move toward rapprochement between Washington and Tehran.
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