National News

Apr 7, 2014 9:06 AM by Associated Press

US stock futures head lower to start the week

Technology futures are starting the week as they ended the last one, falling with the all major indexes as investors dump momentum stocks that made huge gains over the past year.

KEEPING SCORE: Nasdaq futures from the tech-heavy index have given up 30 points, or 0.8 percent, to 3,508. Dow Jones industrial average futures are down 53 points, or 0.3 percent, to 16,303 a half hour before the start of regular trading. The Standard & Poor's 500 index futures are down eight points, or 0.4 percent, at 1,853.

P&G PAYOUT: Shares in Procter & Gamble Co. are creeping up in premarket trading following news that the maker of Tide laundry detergent raised its quarterly dividend by 4 cents to 64 cents. P&G rose 25 cents, or 0.2 percent, to $79.97.

BORROWING: Later Monday afternoon, the Federal Reserve will release a report on how much consumers borrowed in February. The forecast is that borrowing increased slightly in February to $14 billion, according to FactSet. Some economists consider an increase in borrowing an encouraging sign that people are more confident and willing to take on debt to finance spending.

FED AHEAD: The U.S. Federal Reserve will release minutes on Wednesday from its meeting in mid-March and markets will be parsing words from that two-day gathering in an attempt to decipher the mood at the Fed.

EUROPE: Germany's dropped 1.4 percent and France's CAC 40 fell 0.7 percent. Britain's FTSE 100 sank 0.8 percent.

ASIA: In Japan, Tokyo's Nikkei 225 sank 1.7 percent. Hong Kong's Hang Seng rose 0.5 percent. Markets on mainland China were closed for a holiday.

BONDS AND COMMODITIES: The yield on the 10-year Treasury was unchanged from late Friday at 2.72 percent. The price of crude oil fell 57 cents to $100.56 a barrel. Gold fell $5 to $1,298.50 an ounce.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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