U.S. stock index
futures pointed to a flat open on Monday, after two straight weeks of
declines on major indexes and as the benchmark S&P 500 comes off its
biggest one-day loss in about two months.
Wall Street's recent downtrend
has come as investors speculated over whether interest rates could be
raised sooner than expected.
Friday's weakness was driven by a jobs report that was much stronger than expected, which was seen as possibly pressuring the Federal Reserve to act soon on monetary policy. The central bank had said it would raise rates when the economy was deemed strong enough to support such a move.
While a more robust economy is better for stocks in the long run, investors have been concerned that a rate rise too soon - which would raise borrowing costs for companies and individuals - could damp growth as the economy's recovery has been slow.
The S&P 500 remains about 2 percent from its record closing high. The Dow is also near record levels, while the Nasdaq is 2.4 percent below its record close, which was hit in March 2000.
Premarket volume was light, suggesting investors were reluctant to jump in at current levels. That could amplify market volatility, as could this week's economic data, including retail sales and consumer sentiment, which may provide further insight into the Fed's plans for interest rates.
Alcoa Inc (AA.N) fell 3.4 percent to $13.99 in premarket trading after it said it would buy RTI International Metals Inc (RTI.N) for $1.5 billion. RTI jumped 42 percent to $38.80.
McDonald's Corp (MCD.N) fell 1 percent to $96.10 after the company said its same-store sales fell more than expected in February.
Friday's weakness was driven by a jobs report that was much stronger than expected, which was seen as possibly pressuring the Federal Reserve to act soon on monetary policy. The central bank had said it would raise rates when the economy was deemed strong enough to support such a move.
While a more robust economy is better for stocks in the long run, investors have been concerned that a rate rise too soon - which would raise borrowing costs for companies and individuals - could damp growth as the economy's recovery has been slow.
The S&P 500 remains about 2 percent from its record closing high. The Dow is also near record levels, while the Nasdaq is 2.4 percent below its record close, which was hit in March 2000.
Premarket volume was light, suggesting investors were reluctant to jump in at current levels. That could amplify market volatility, as could this week's economic data, including retail sales and consumer sentiment, which may provide further insight into the Fed's plans for interest rates.
Alcoa Inc (AA.N) fell 3.4 percent to $13.99 in premarket trading after it said it would buy RTI International Metals Inc (RTI.N) for $1.5 billion. RTI jumped 42 percent to $38.80.
McDonald's Corp (MCD.N) fell 1 percent to $96.10 after the company said its same-store sales fell more than expected in February.
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