By Barbara Kollmeyer, MarketWatch
Dollar regains some momentum versus euro
U.S. stock futures rose moderately on Monday, ahead of
factory-order data and Federal Reserve speeches, though gains were
tempered by more weak data out of China.
Futures for the Dow Jones Industrial Average (YMM5) rose 48
points, or 0.2%, to 17,982, while those for the S&P 500 index
(ESM5) added 4.65 points to 2,106. Futures for the Nasdaq-100
(NQM5) rose 5 points to 4,472.75.
The German DAX 30 index was up 1%, leading gains for European
stocks
(http://www.marketwatch.com/story/european-stocks-edge-lower-with-uk-market-closed-2015-05-04)
after the release of robust manufacturing data for the eurozone.
London markets are closed for a holiday.
China's Shanghai Composite Index , meanwhile, closed higher on
Monday
(http://www.marketwatch.com/story/china-shares-drift-lower-2015-05-03),
recovering from earlier losses after data showed the country's
manufacturing activity slowed more sharply than forecast. Tokyo
markets were closed for a holiday.
Read: Icahn: Junk bonds now 'even more dangerous' than stock
market
(http://www.marketwatch.com/story/icahn-junk-bonds-now-even-more-dangerous-than-stock-market-2015-05-03)
Nonfarm payrolls week: The only piece of U.S. data for Monday is
factory orders, scheduled for 10 a.m. Eastern Time. Forecasters are
calling for a rise of around 2.4% in March, after a gain of 0.2% in
February broke a six-month streak of declines.
Those expectations could turn out to be too optimistic, said
Nour Al-Hammoury, chief market strategist at ADS Securities in Abu
Dhabi, in a note. "If the figure does disappoint, the level of
uncertainty regarding the Federal Reserve Policy will only
increase," he said.
Chicago Fed President Charles Evans will give a speech in
Columbus, Ind. at 12:25 p.m. Eastern Time, while San Francisco Fed
President John Williams will speak to a small-business trade group
in San Francisco at 3:10 p.m. Eastern.
Wall Street is looking ahead to the nonfarm-payrolls report due
Friday. Forecasters predict job creation in April will bounce back
significantly after a disappointing 126,000 increase in March,
which was the smallest in 15 months.
Read: Roses or thorns? Wall Street awaits pivotal jobs report
for April
(http://www.marketwatch.com/story/roses-or-thorns-wall-street-awaits-pivotal-jobs-report-for-april-2015-05-03)
Stocks to watch: Comcast Corp.(CMCSA) said it will buy back
$6.75 billion in shares in 2015, as it reported earnings rose in
the first quarter.
Cablevision Systems Corp.(CVC), MGM Resorts International (MGM)
and Tyson Foods(TSN) are all scheduled to report ahead of the
opening bell.
Read: Media, smaller energy companies provide bulk of results as
earnings taper off
(http://www.marketwatch.com/story/media-smaller-energy-cos-provide-bulk-of-results-as-earnings-taper-off-2015-05-03)
Shares of Charter Communications Inc.(CCMMV) could be in focus
after The Wall Street Journal
(http://www.marketwatch.com/story/charter-expresses-interest-in-friendly-deal-talks-with-time-warner-2015-05-03-15103119)
reported, citing sources, that the company has started to approach
the management of Time Warner Cable Inc. (TWC) about a friendly
merger.
Shares of Syngenta AG rallied 8% in Switzerland after a media
report last week said U.S. seed group Monsanto Co.(MON) had
approached its rival about a takeover. The Swiss stock index was
closed on Friday for a holiday.
McDonald's Corp. (MCD) could grab some limelight on Monday.
Chief Executive Steve Easterbrook is expected to reveal the first
glimpse of his strategy to revive the fast-food retailer.
Other markets: The dollar regained some strength on Monday, with
the euro (EURUSD) pulling back to $1.114, a 0.5% drop. Oil prices
(CLM5) also moved higher, along with gold (GCM5).
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