Investing.com – U.S. futures pointed to a flat Wall Street open on Monday as investors wait for a new batch of earnings reports.
The S&P 500 futures was down one point or 0.04% as of 6:50 AM ET (11:50 AM GMT) while Dow futures increased 19 points or 0.08%. Meanwhile tech heavy Nasdaq 100 futures was flat.
Among the biggest gainers in pre-market trading were Advanced Micro Devices (NASDAQ:AMD), which rose 5.76% after it announced it was teaming up with IBM (NYSE:IBM) to create PC chips and thwart competitor Nvidia. Communications firm Nokia (HE:NOKIA) Corp was also up 1.01% while telecommunications company Qualcomm (NASDAQ:QCOM) increased 3.14% on news that Broadcam was preparing to make a bid for the firm.
Meanwhile Sprint Corp (NYSE:S) was among those hardest hit, slumping 10.34% after it ended merger talks with T-Mobile. Instead the telecommunications firm is partnering with Altice USA, who will sell mobile service on the carrier’s network.
Earnings season continues with CVS Health (NYSE:CVS), Michael Kors Holdings Limited (NYSE:KORS), Softbank Corp. (T:9984) and Sysco (NYSE:SYY) some of the companies expected to release their earnings before the morning bell. TripAdvisor Inc (NASDAQ:TRIP), Etsy Inc (NASDAQ:ETSY), and Godaddy Inc (NYSE:GDDY) are among those set to publish their corporate earnings after the bell.
Investors will also be tuning into Federal Reserve Bank of New York President William Dudley, who speaks at 12:00 PM ET (5:00 PM GMT) for any hint of a rate hike in December and comments on the state of the U.S. economy.
In Europe, stocks were down as investors focus on a batch of earnings releases. Germany’s DAX fell 22 points or 0.17% while in France the CAC 40 slipped six points or 0.12% and in London, the FTSE 100 decreased six points or 0.08%. Meanwhile the pan-European Euro Stoxx 50 was down six points or 0.18% while Spain’s IBEX 35 slumped 33 points or 0.33%.
In commodities, gold futures rallied 0.20% to $1,271.71 a troy ounce while crude oil futures rose 0.43% to $55.88 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched forward 0.03% to 94.86.