Monday April 10th

10-04-2017

Futures point to flat open on Wall Street as geopolitical risks continue to dominate

U.S. stock index futures pointed to a flat open on Monday as increased geopolitical risks continued to dominate headlines, prompting investors to head for safe-haven assets. Investors will be keenly watching events in Italy on Monday, where G7 foreign ministers will begin a two-day meeting. U.S. Secretary of State Rex Tillerson may provide more clarity on an array of international issues, including the latest developments in Syria, following the U.S.'s decision to fire cruise missiles at a Syrian airfield late Thursday. Elsewhere, the calendar on Monday is light, with no planned data or earnings announcements. The Federal Reserve Chair Janet Yellen delivers remarks at the University of Michigan Ford School of Public Policy at 4 p.m. ET. In Europe, the pan-European Stoxx 600 index fell 0.05 percent on Monday. In Asia, the Shanghai Composite in China closed 0.5 percent lower, while the Nikkei in Japan closed 0.71 percent higher. In oil markets, Brent crude traded at around $55.90 a barrel on Monday, up 1.2 percent, while U.S. crude was around $52.86 a barrel, up 1.2 percent. Gold steadied on Monday after dropping back sharply from the previous session's five-months highs, with a firmer dollar counterbalancing concerns over geopolitical tensions in North Korea and the Middle East. Spot gold fell slight to $1,250.30 an ounce, little changed from late on Friday, while U.S. gold futures for June delivery were down 0.39 percent to $1,252.40.