New York - US stock index futures were slightly lower on Monday ahead of business activity and home sales data, with the S&P 500 and Nasdaq Composite indexes set to close a sixth straight quarter of gains - a streak not seen in more than 14 years.
The Chicago Purchasing Manager Index is due to be released at 9:45 a.m. EDT (15:45 SA time) and the National Association of Realtors will publish its pending home sales index at 10:00 a.m. (16:00 SA time).
The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS
With an abbreviated week due to the US Independence Day holiday on Friday and a ream of data due Wednesday and Thursday, there may be increased volatility in a market that has been frustratingly placid for some time.
S&P 500 e-mini futures were down 2 points and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a slightly lower open.
Dow Jones industrial average e-mini futures fell 24 points and Nasdaq 100 e-mini futures lost 1 point.
Barring a market slide on Monday, the S&P and Nasdaq will close up for a sixth straight quarter.
That's the longest streak of quarterly advances for the Nasdaq since 2000, while for the S&P, it's the best run of quarters since 1998. The Dow will close its fifth higher quarter of the last six.
US regulators on Friday approved MannKind Corp's inhaled insulin, saying the device offered a new treatment option for patients with diabetes. MannKind shares jumped 12 percent in premarket trading.
Markets will continue to keep an eye on the Middle East as Iraqi troops battle for Tikrit after the leader of an al Qaeda splinter group was declared caliph of a new Islamic state in lands seized this month across a swathe of Iraq and Syria. - Reuters