NEW YORK (AP) — Wall Street appears headed for a modestly higher open to start the week as investors await more corporate earnings reports.
Futures for the S&P 500 ticked up 0.1% Monday while the contract for the Dow Jones Industrial futures was flat.
Shares rose in Europe after a mixed trading session in Asia, where the Shanghai benchmark jumped after reopening from the Lunar New Year holidays.
France’s CAC 40 added 0.2% in early trading, while Germany’s DAX and Britain’s FTSE 100 each gained 0.4%.
Investors also are watching for moves by central banks in India, Indonesia and Thailand, which are all set to decide on monetary policy within the week.
In Asian trading, Japan’s benchmark Nikkei 225 lost 0.7% to finish at 27,248.87. Australia’s S&P/ASX 200 slipped 0.1% to 7,110.80. South Korea’s Kospi declined 0.2% to 2,745.06. Hong Kong’s Hang Seng was little changed, inching up less than 0.1% to 24,579.55, while the Shanghai Composite added 2% to 3,429.58.
This week brings earnings reports from some of the region’s biggest companies, including Japanese automakers. They may provide updates on shortages of computer chips and other disruptions and pressures related to the pandemic.
Shares in Spirit Airlines jumped 12% in premarket trading Monday after Frontier said it was buying the budget airline in a $2.9 billion cash-and-stock deal that will create the nation’s fifth largest carrier. The deal is expected to face scrutiny from anti-trust regulators.
On Friday, The S&P 500 gained 0.5% to 4,500.53. The Dow Jones Industrial Average slipped 0.1%, to 35,089.74 after a last-minute burst of selling. The Nasdaq composite rose 1.6% to 14,098.01. The three indexes posted a weekly gain for the second week in a row.
This week, market watchers will be eyeing fresh U.S. inflation data and jobless claims, due on Thursday. Pfizer, UnitedHealth and Walt Disney are among the U.S. companies reporting earnings this week.
The 10-year Treasury was stable at 1.92% on Monday.
In energy trading, benchmark U.S. crude fell 61 cents to $91.70 a barrel in electronic trading on the New York Mercantile Exchange. It surged $2.04 on Friday to $92.31. Brent crude, the international standard, slipped 15 cents to $93.12 a barrel.
In currency trading, the U.S. dollar fell to 114.98 Japanese yen from 115.28 yen. The euro cost $1.1447, down from $1.1461.