Stock Futures Weaken After Merck Earnings
NEW YORK ( TheStreet) -- Stock futures were falling Monday as earnings and an outlook from drug giant Merck
Futures for the S&P 500 were down 1.5 points, or 1.62 points below fair value, to 1,752.5, while futures for the Dow Jones Industrial Average were shedding 13 points, or 19.28 points below fair value, to 15,484. Futures for the Nasdaq were up 0.5 points, or 1.48 points below fair value, to 3,374.3.
The Federal Reserve is expected to kick off its two-day policy meeting Tuesday. A tapering of the Fed's bond-buying program isn't expected to be announced given the economic uncertainties caused by the fiscal overhang and government shutdown in Washington earlier this month.
Markets on Friday finished a choppy week in positive territory, boasting three weeks of consecutive gains, after Amazon
iPod and iPhone maker Apple is expected by analysts after Monday's closing bell to report fiscal fourth-quarter earnings of $7.94 a share on revenue of $36.86 billion. Apple remains the world's most valuable public company, but the earnings are expected to mark Apple's third consecutive quarter of declining earnings from the previous year. In the year-earlier fourth quarter, Apple posted earnings of $8.2 billion, or $8.67 a share, on revenue of $36 billion. Shares were rising 0.48% to $528.50 in premarket trading.
The spotlight Monday was also on AMC Networks