Investing.com - U.S. stock futures pointed to lower open on Monday, as investors remained cautious over Italy's ability to tackle its debt crisis following a government debt auction.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a drop of 0.12%, S&P 500 futures signaled a 0.30% fall, while the Nasdaq 100 futures indicated a 0.29% decline.
Italy sold all EUR3 billion of five-year government bonds it offered at an auction earlier Monday, at an average yield of 6.29%, a record high. The auction was seen as a key test of investor confidence in Italian debt.
It was the first auction of Italian debt since former European Commissioner Mario Monti was appointed to head a new government charged with implementing urgent reforms.
In the technology sector, Apple saw shares decline 0.16% while video game company Activision tumbled 2.08%.
Elsewhere, Valero Energy Corp tumbled 3.28%, tracking the downward trend in crude oil prices.
But financial stocks were sharply higher as shares in Bank of America surged 2.99% and Citigroup soared 2.44%, while Goldman Sachs and JP Morgan climbed 2.17% and 1.65% respectively.
Morgan Stanley saw shares jump 3.15% after the firm announced that its Asia private equity arm is in talks to buy a majority stake in Chinese packaging firm HCP Holdings Inc. The deal could reportedly value the company at about USD500 million.
Chip maker Intel was one of the day's top gainers, with shares jumping 3.28% and Microsoft rising 2.40%, while Cisco Systems and IBM both saw their shares advance 2.20%.
Meanwhile, telecommunications giant skyrocketed 5.18%, followed closely by Broadcom Corp and Qualcomm Inc. with shares advancing 3.52% and 2.55% respectively.
Other stocks in focus included JCPenny and Lowe's, due to post third-quarter earnings before the opening bell.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 0.87%, France’s CAC 40 dropped 0.81%, Germany's DAX declined 0.60%, while Britain's FTSE 100 posted a 0.43% fall.
During the Asian trading session, Hong Kong's Hang Seng Index surged 2.3%, while Japan’s Nikkei 225 Index climbed 1.05%.
Also Monday, Greece’s finance minister said his priority was to ensure the country receives its sixth tranche of bailout funds after Prime Minister Lucas Papademos was sworn in.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a drop of 0.12%, S&P 500 futures signaled a 0.30% fall, while the Nasdaq 100 futures indicated a 0.29% decline.
Italy sold all EUR3 billion of five-year government bonds it offered at an auction earlier Monday, at an average yield of 6.29%, a record high. The auction was seen as a key test of investor confidence in Italian debt.
It was the first auction of Italian debt since former European Commissioner Mario Monti was appointed to head a new government charged with implementing urgent reforms.
In the technology sector, Apple saw shares decline 0.16% while video game company Activision tumbled 2.08%.
Elsewhere, Valero Energy Corp tumbled 3.28%, tracking the downward trend in crude oil prices.
But financial stocks were sharply higher as shares in Bank of America surged 2.99% and Citigroup soared 2.44%, while Goldman Sachs and JP Morgan climbed 2.17% and 1.65% respectively.
Morgan Stanley saw shares jump 3.15% after the firm announced that its Asia private equity arm is in talks to buy a majority stake in Chinese packaging firm HCP Holdings Inc. The deal could reportedly value the company at about USD500 million.
Chip maker Intel was one of the day's top gainers, with shares jumping 3.28% and Microsoft rising 2.40%, while Cisco Systems and IBM both saw their shares advance 2.20%.
Meanwhile, telecommunications giant skyrocketed 5.18%, followed closely by Broadcom Corp and Qualcomm Inc. with shares advancing 3.52% and 2.55% respectively.
Other stocks in focus included JCPenny and Lowe's, due to post third-quarter earnings before the opening bell.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 0.87%, France’s CAC 40 dropped 0.81%, Germany's DAX declined 0.60%, while Britain's FTSE 100 posted a 0.43% fall.
During the Asian trading session, Hong Kong's Hang Seng Index surged 2.3%, while Japan’s Nikkei 225 Index climbed 1.05%.
Also Monday, Greece’s finance minister said his priority was to ensure the country receives its sixth tranche of bailout funds after Prime Minister Lucas Papademos was sworn in.