Stocks: Looks to be a dour day

By CNNMoney.com staff


NEWYORK(CNNMoney.com) -- U.S. stocks looked set to start the week on a dour note Monday, as investors remained anxious about the economic outlook.

At 7:05 a.m. ET, Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down about 1%, with Dow futures off 101 points.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.

U.S. stocks have been volatile amid concerns about global growth. Although stocks gained Friday, they ended the week lower, with the Dow and S&P 500 both down around 4% and the Nasdaq off 5%.

Economy: Investors will digest a report on existing home sales in April.

The report from the National Association of Realtors is expected to show that sales rose to a seasonally adjusted 5.65 million unit rate last month, according to a consensus of economists surveyed by Briefing.com.

Companies: The U.S. Justice Department will not pursue criminal charges against AIG (AIG, Fortune 500) or its executives due to insufficient evidence, according to several published reports.

World markets: Markets were mixed in Europe. The CAC 40 in France was flat in morning trading, while Britain's FTSE 100 fell 0.3% and Germany's DAX dipped 0.9%.

In Asia, the Shanghai Composite surged 3.5% and the Hang Seng ended the session 0.6% higher. Japan's benchmark Nikkei index fell 0.3%.

Dollar and commodities: The euro slumped against the dollar, after the shared currency made some gains last week. The euro fell 1.5% against the U.S. currency.

The greenback was up 0.7% on the British pound, and it rose 0.2% versus the Japanese yen.

U.S. light crude oil for July delivery rose 4 cents to $70.08 a barrel.

Bonds: Treasury prices were higher early Monday, pushing the benchmark 10-year note's yield down to 3.17%. Bond prices and yields move in opposite directions. To top of page

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