By Anora Mahmudova and Sara Sjolin, MarketWatch
Oil prices slip forward of OPEC report
U.S. batch futures, that have been resolutely correlated with crude-oil prices over a past several months, followed
oil reduce on Monday, pulling behind from their top levels of a year.
Dow Jones Industrial Average futures slipped 26 points, or 0.2%, to 17,157, while those for a SP 500 index fell 5
points, or 0.3%, to 2,014. Futures for a Nasdaq-100 index gave adult 10 points, or 0.2%, to 4,342.
The shelter came after a SP 500 index and Dow normal rallied on Friday. They sealed during their top levels in
2016-03-11) on a behind of resilient oil prices.
Investors competence be discreet forward of a Federal Reserve’s rate preference on Wednesday.
Fed ahead: The executive bank is widely approaching to keep seductiveness rates on hold, even as new mercantile information support
the box for a rate travel in a brief term, analysts during Daiwa Capital Markets said. The Fed’s two-day assembly starts
“Although a equity marketplace has calmed, financial conditions are still tighter than they were in December, when the
Fed started a normalization process,” a Daiwa analysts pronounced in a note. “The SP 500 is down some-more than 2% since
liftoff, and credit spreads in a corporate bond marketplace sojourn tighten to a six-year high reached in February.”
The Fed in Dec lifted seductiveness rates for a initial time in roughly a decade (http://www.marketwatch.com/story/
text-of-fomc-decision-on-interest-rate-hike-2015-12-16), fueling expectations that some-more tightening would come in 2016.
The misunderstanding in financial markets during a commencement of a year, however, has pushed out forecasts for a subsequent rate rise.
“It’s usually recently that a markets have started pricing one in for September, though even this is usually a slim
majority,” pronounced Craig Erlam, comparison marketplace researcher during Oanda, in emailed comments.
“This is where there is intensity for a markets to get a bit of a shock, if a Fed stays unrelenting that 3 or
four hikes this year is on a table. Of course, a ability of executive banks to successfully promulgate their message
to a markets is questionable,” he added.
There are no Fed speakers on daub forward of a meeting. Monday is a still day on a information front, with no vital releases
on a calendar.
Other markets: Hesitation forward of a Fed assembly mostly overshadowed developments in other financial markets on
Monday. Asian bonds sealed resolutely aloft (http://www.marketwatch.com/story/asian-markets-up-as-chinese-real-estate-
stocks-surge-2016-03-13), with a Shanghai Composite finale 1.8% higher, driven by a swell in skill stocks.
In Europe , bonds rallied opposite a board, as investors eaten an assertive turn of easing measures from the
European Central Bank announced on Thursday.
Oil prices slumped forward of OPEC’s monthly report, due before a U.S. marketplace opens. Metals were mixed, while a ICE
Dollar Index climbed 0.2% (http://www.marketwatch.com/story/dollar-steady-ahead-of-boj-fed-meetings-2016-03-14) to
Movers shakers: Shares of Starwood Hotels Resorts jumped 8.4% after receiving a takeover offer from a organisation led by
China’sAnbang Insurance Group, melancholy to invert Starwood’s $12.2 billion tie-up with Marriott International Inc.
Marriott shares were adult 1% premarket.
Shares of Chipotle Mexican Grill Inc. (CMG) could be active in Monday’s event after a bonds filing late Friday
showed a company’s bosses now will see their compensate related to share-price opening (http://www.marketwatch.com/story/
Blackstone Group LP (BX) might also pierce after news over a weekend a genuine estate private-equity account is offered a
portfolio of U.S. oppulance hotels (http://www.marketwatch.com/story/blackstone-group-to-sell-luxury-hotel-portfolio-to-
chinese-group-2016-03-13) to a Chinese owners of New York’s Waldorf Astoria, only months after shopping it for $4
Ahead of a marketplace open, biotech association MannKind Corp. (MNKD) is slated to news earnings, while extract builder Jamba
Inc. (JMBA) releases formula after a marketplace closes.
(END) Dow Jones Newswires 03-14-160901ET Copyright (c) 2016 Dow Jones Company, Inc.