US stock futures drift ahead of opening bell

Associated Press

NEW YORK (AP) — U.S. stock futures are barely moving ahead of the opening bell, as the stock market appears set to close out June with a modest gain.

KEEPING SCORE: A half hour before the opening bell, Dow Jones industrial average futures are down nine points at 16,748.

Standard & Poor's 500 index futures are down less than a point at 1,952, while Nasdaq 100 futures are up two points at 3,833.

The stock market ended last week with a slight loss. But that was a minor setback. The S&P 500 has managed a gain of 1.9 percent in June, despite rising oil prices and signs of tepid economic growth.

A DEAL: Pittsburgh-based PPG Industries announced plans to buy Mexico's Comex Consorcio Comex SA de CV for $2.3 billion. The maker of paints wants to bolster its business in Mexico and Central America. Shares PPG Industries rose $5.95, or 3 percent, to $210 in premarket trading.

DATA: Two snapshots on housing and manufacturing come out Monday. Just after the opening bell, the Institute for Supply Management will release its reading of business activity in the Chicago area. At 10 a.m. EDT, the National Association of Realtors releases its pending home sales index for May.

EUROPE: Major European markets barely budged Monday. France's CAC 40 slipped 0.2 percent, while Germany's DAX added 0.2 percent. The FTSE 100 index of leading British companies was down 0.1 percent.

BONDS AND COMMODITIES: In the market for government bonds, the yield on the 10-year note dipped to 2.52 percent from 2.54 percent late Friday. Bond yields fall when prices rise. The price of crude oil slipped 52 cents to $105.22 a barrel.