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Market Hustle: Futures Slip on Weak Jobs Report, Ahead of Bank Earnings

Tickers in this article: BAC F GM JPM WFC ^DJI ^GSPC ^IXIC

NEW YORK (The Street) -- Major U.S. stock futures were pointing to a lackluster start Monday amid investor caution ahead of fourth-quarter bank earnings and uncertainties surrounding the pace of Federal Reserve tapering following last week's disappointing jobs market report.

  • S&P 500 futures were falling 4.75 points, or 3.22 points below fair value, to 1,833, Dow Jones Industrial Average futures were slipping 25 points, or 12.05 points below fair value, to 16,356, and Nasdaq futures were dipping 9.2 points, or 5.88 points below fair value, to 3,552.3.

  • Markets closed mixed on Friday after a worse-than-expected December jobs report underlined the rocky nature of the economic recovery. The addition of 74,000 jobs missed expectations by a wide margin and was the worst monthly government job report in three years.

  • The December Treasury budget statement is to be released at 2 p.m. EST.

  • Atlanta Fed Bank President Dennis Lockhart is scheduled to speak on the economic outlook in Atlanta at 12:40 p.m.

  • December retail sales data will be out on Tuesday and December inflation reports are due on Tuesday and Wednesday.

  • Fourth-quarter earnings reports in focus this week include banks such as JPMorgan Chase  and  Wells Fargo on Tuesday, Bank of America on Wednesday, Goldman Sachs and Citigroup on Thursday, and Morgan Stanley on Friday.

  • General Motors was adding 0.55% to $40.25 after Chief Financial Officer Dan Ammann told reporters the automaker is "the closest it has ever been" to reinstating a dividend.

  • Ford was gaining 0.44% to $16.14 on expectations that the automaker will reveal a new F-150 pickup truck with a body built almost entirely out of aluminum, cutting about 700 pounds off the weight of the truck.

  • The benchmark Shanghai Composite index shed 0.19% to a five-month low of 2,009.56 after plans by China's securities regulator to tighten its supervision of initial public offerings did little to ease liquidity concerns.

-- Written by Andrea Tse in New York.

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