U.S. Equity-Index Futures Trade Little Changed
U.S. equity-index futures were little changed after the Standard & Poor’s 500 Index finished last week near the highest level since 2007. Gold fell.
Futures on the S&P 500 rose less than 0.1 percent to 1,453.1 as of 7:19 a.m. in Tokyo. Gold retreated 0.2 percent to $1,774 an ounce. The euro was at $1.2975.
U.S. stocks declined last week as concern about slowing global growth overshadowed optimism about central bank stimulus. Financial and commodity shares dropped the most for the week among 10 industry groups in the S&P 500 as Bank of America Corp. and Alcoa Inc. declined more than 4.6 percent. The S&P 500 slipped 0.4 percent to 1,460.15, snapping a two-week rally.
Chancellor Angela Merkel and President Francois Hollande underlined Franco-German disagreement over the weekend as they clashed on a timetable to introduce joint oversight of the region’s banking sector, with Merkel rebuffing Hollande’s appeal to activate it “the earlier, the better.”
Consumer spending in the U.S. probably stagnated in August after adjusting for inflation, showing the expansion is struggling to gain momentum, economists said before a report this week. Household purchases, which account for about 70 percent of the economy, rose 0.5 percent last month after a 0.4 percent increase in July, according to the estimate of economists surveyed by Bloomberg ahead of Sept. 28 figures from the Commerce Department.
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