Stocks Set For Lower Open After BoE Warnings

Stock futures are a bit lower, taking their lead from Europe, after the Bank of England’s Mark Carney last night warned the central bank could raise interest rates sooner than expected.

Dow futures are down 14 points, S&P 500 futures are down 2 points, and Nasdaq futures are unchanged.

In Europe, England’s FTSE is down 1.2%, Germany’s DAX is down 1%, and stocks in Paris are down 0.9%.

The British Pound is at about $US1.695 against the dollar after surging last night following Carney’s comments.

On the economic front, the producer price index report is expected for 8:30 am.

At 9:55 am, we get the University of Michigan/Reuters consumer sentiment reading.

In corporate news, Priceline is buying OpenTable for $US2.6 billion, or $US103 per share.

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