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U.S. stock futures signal weaker Wall St open

Source : REUTERS
Last Updated: Mon, Jul 16, 2012 10:05 hrs

LONDON, July 16 (Reuters) - * U.S. stock index futures pointed to a weaker open on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.2-0.3 percent.

* GlaxoSmithKline is expected to announce an agreement to acquire Human Genome Sciences for about $2.8 billion as soon as Monday, ending three months of its hostile pursuit of the U.S. biotechnology company, sources familiar with the situation said.

* New York Federal Reserve releases its Empire State Manufacturing Survey for July at 1230 GMT. Economists expect a reading of 4.00, compared with 2.29 in June.

* The earnings season focus will be on Citigroup, which is expected to report a decline in its investment banking revenue.

* The Commerce Department releases June retail sales figures at 1230 GMT. Economists predict a 0.2 percent rise, against a 0.2 percent decrease in May.

* Comcast Corp, the parent company of NBC, has bought out Microsoft Corp's 50 percent stake in MSNBC.com for about $300 million to assume full control of the news website, the New York Times said, citing people with knowledge of the deal.

* U.S. Commerce Department issues Business Inventories for May at 1400 GMT. Economists expect a rise of 0.2 percent, versus a 0.4 percent rise in the prior month.

* The chief executive of Airbus said U.S. rival Boeing has slashed the prices of Boeing 737 Max aircraft in a bid to grab market share from Airbus's A320neo, a German newspaper reported on Sunday.

* Ford Motor Co is recalling some of its 2013 Escape compact sport-utility vehicles because a carpeting flaw may cause drivers to apply the brakes improperly, increasing stopping distances and the risk of crashes.

* Nokia has cut the U.S. price of its flagship smartphone in half, barely three months after its launch, in an effort to stanch losses in market share to rivals such as Apple Inc and Samsung Electronics Co .

* European shares steadied on Monday, with investors reluctant to push the market higher after six weeks of gains in the early stages of a second quarter earnings season that is signalling that the euro zone crisis is weighing on profits.

* The Dow Jones industrial average rose 1.6 percent on Friday, the Standard & Poor's 500 Index gained 1.7 percent and the Nasdaq Composite Index climbed 1.5 percent.



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