US stock futures were slightly higher on Monday morning after closing out a solid week that took the Dow and S&P 500 green for the year.
Near 7:50 a.m. ET, futures on the three main indexes were up by less than 0.2%, with Dow futures up about 23 points, S&P 500 futures up 2, and Nasdaq futures up 6 points.
It’s a four-day trading week, as stock markets close for Good Friday. But on that morning, we’ll get the final estimate of fourth-quarter GDP, highlighting a week that’s sparse with data.
Wells Fargo’s Sam Bullard says markets will still be extra-sensitive to all the incoming data this week.
From a client note over the weekend:
As evidenced by the Fed’s downgrade to the near-term GDP growth estimate and the larger-than-expected cuts to the anticipated pace of policy rate firming, the financial markets will be on alert to incoming economic data to help validate that the moderate growth expansion remains in place.
This week we receive limited new information, but anticipated gains in home sales and a rebound in durable goods orders, as well as gains in March regional manufacturing surveys, would help alleviate some near-term concerns over the US economy.
Today, existing home sales numbers will cross at 10 a.m. ET.
A couple of mergers were announced this morning, including a revised one between Marriott and Starwood Hotels. Marriott raised its offer for Starwood in a deal worth $13.6 billion, after a consortium of companies led by Chinese insurer Anbang put out a better offer.
Crude oil was little changed in early trading, with West Texas Intermediate futures in New York down by less than 1% and just under $41 per barrel. On Friday, driller Baker Hughes said the US oil rig count rose by one, the first climb in three months.
Refresh this page for updates throughout the day.