U.S. stocks are seen opening lower Monday, as investors continue profit-taking amid worries that recent improved earnings are based on cost-cutting, not productivity and demand.
Dow Jones futures fell 28 points recently to 9,315. Nasdaq futures lost 2.5 points to 1,302.5, and S&P futures were 3.2 points lower at 989.2.
Britain is enjoying a banking holiday Monday, although European stocks are trading lower, following U.S. weakness.
In Japan, the benchmark Nikkei 225 Stock Average fell 4.53 points to close at 10,276.64 as players cashed in on recent blue chip gains.
In U.S. corporate news, Intel raised its revenue forecast, citing demand for computers from U.S. consumers and buyers in Asia. But most corporate customers are refraining from major purchases or upgrades, suggesting that a broad-based tech-sector recovery may be months or quarters away.
Late Friday, Exxon Mobil said a court has been ordered to reconsider its $4 billion punitive damages award stemming from the Valdez oil spill. Also, the Department of Justice and the Securities and Exchange Commission are investigating Lucent Technologies operations in Saudi Arabia.
Analysts expect automobile finance company Americredit Corp. to report fourth-quarter earnings of 16 cents a share after Monday's closing bell.
Wall Street will be eyeing a 10 a.m. EDT report on existing home sales, which is expected to show sales rose to 5.90 million in July, up slightly from 5.83 million last month.
The Dow Jones industrial average closed down 74.81 points, or 0.79 percent, on Friday to close at 9,348.87. The Nasdaq composite index ended the day at 1,765.32, down more than 12 points, or 0.7 percent. The Standard & Poor's 500 Index fell 10.21 points, or 1.02 percent, to 993.06.
Dow Jones futures fell 28 points recently to 9,315. Nasdaq futures lost 2.5 points to 1,302.5, and S&P futures were 3.2 points lower at 989.2.
Britain is enjoying a banking holiday Monday, although European stocks are trading lower, following U.S. weakness.
In Japan, the benchmark Nikkei 225 Stock Average fell 4.53 points to close at 10,276.64 as players cashed in on recent blue chip gains.
In U.S. corporate news, Intel raised its revenue forecast, citing demand for computers from U.S. consumers and buyers in Asia. But most corporate customers are refraining from major purchases or upgrades, suggesting that a broad-based tech-sector recovery may be months or quarters away.
Late Friday, Exxon Mobil said a court has been ordered to reconsider its $4 billion punitive damages award stemming from the Valdez oil spill. Also, the Department of Justice and the Securities and Exchange Commission are investigating Lucent Technologies operations in Saudi Arabia.
Analysts expect automobile finance company Americredit Corp. to report fourth-quarter earnings of 16 cents a share after Monday's closing bell.
Wall Street will be eyeing a 10 a.m. EDT report on existing home sales, which is expected to show sales rose to 5.90 million in July, up slightly from 5.83 million last month.
The Dow Jones industrial average closed down 74.81 points, or 0.79 percent, on Friday to close at 9,348.87. The Nasdaq composite index ended the day at 1,765.32, down more than 12 points, or 0.7 percent. The Standard & Poor's 500 Index fell 10.21 points, or 1.02 percent, to 993.06.
3287.99
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