US pre-open: Futures mixed as major indices snap nine-week winning streak

(Sharecast News) - Wall Street futures were mixed prior to the open on Monday after major indices started the new year off by snapping their nine-week winning streak. As of 1230 GMT, Dow Jones futures were down 0.41%, while S&P 500 futures were 0.03% weaker and Nasdaq-100 futures had the index coming out the gate 0.07% firmer.

The Dow closed 25.77 points higher on Friday, eking out a small gain in what was otherwise a disappointing first week of the year as mega-cap tech stocks underperformed and Treasury yields rose on the back of elevated uncertainty around the path of future rate cuts from the FOMC.

On Monday, traders will keep one eye focussed on Washington as lawmakers attempt to avoid a government shutdown, with congressional leaders announcing a deal setting up $1.59trn in top-line spending.

Also in focus, the yield on the benchmark ten-year Treasury note swung back above the psychologically important 4% mark before the open and was sitting at 4.061%.

On the macro front, Federal Reserve Bank of Atlanta president Raphael Bostic will deliver a speech at 1330 GMT, while consumer credit chase figures for November will be published at 2000 GMT.

In the corporate space, plane builder Boeing was sharply lower in pre-market trading on the back of news that the Federal Aviation Administration had ordered a temporary grounding of dozens of its 737 Max 9 aircraft following a blowout incident on Friday.

Reporting by Iain Gilbert at Sharecast.com