Home / Business / MARKET SNAPSHOT: U.S. Stock Futures Follow Oil Lower

MARKET SNAPSHOT: U.S. Stock Futures Follow Oil Lower

Shutterstock photo

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 (http://www.marketwatch.com/story/dow-futures-rise-by-triple-digits-as-stocks-aim-for-4th-straight-weekly-gain-
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
Tuesday.

“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
96.39.

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/
chipotle-bosses-will-now-see-pay-linked-to-share-price-performance-2016-03-14).

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
billion.

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.





Article source: http://www.nasdaq.com/article/market-snapshot-us-stock-futures-follow-oil-lower-20160314-00428

InterNations.org