US futures point to dip

New York - US stock index futures pointed to modest losses at the open on Monday, as a rash of corporate deals weren't enough reason for investors to keep buying following a rally that has taken major indexes to repeated record highs.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

On Friday, the benchmark index was lifted by the May payroll report, which pointed to improving economic conditions, though it was slightly weaker than expected.

While Wall Street's upward trend looks intact, traders may need new catalysts to maintain its momentum.

Merck dipped 0.8 percent to $57.40.

Hittite popped 29 percent to $78.12.

The “fear index” is almost half of its historical average, which some analysts worry is a signal that the market is not fully accounting for issues that could derail the rally.

The tech titan fell 0.4 percent to $91.89 before the bell.

The Nikkei on Friday reported that Apple was preparing to sell its first wearable device this October, aiming to produce 3 million to 5 million smartwatches a month in its initial run.

Dow Jones industrial average futures fell 10 points and Nasdaq 100 futures fell 4 points.

Hillshire rose 4.9 percent to $61.83 before the bell. - Reuters