US STOCKS-Wall St to fall at open, weighed by energy stocks

lunes 5 de enero de 2015 10:13 GYT
 

* Futures off: Dow 69 pts, S&P 9 pts, Nasdaq 13.5 pts (Updates prices, adds comment)

By Rodrigo Campos

NEW YORK Jan 5 (Reuters) - U.S. stock index futures fell on Monday as volume returned to markets after the New Year holiday, with energy shares sliding again as crude prices fell to fresh 5-1/2 year lows.

Crude oil futures prices dropped to their lowest since May 2009 amid a global supply glut and lackluster demand. Russia's oil output hit a post-Soviet high last year, and Iraq's oil exports in December were at the highest since 1980.

Oil and other commodities are likely to be pressured further by the strength in the U.S. dollar. A measure of the greenback against a basket of major currencies hit its highest since December 2005.

The fall in futures is "driven quite a bit by the slump in energy prices," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

He said aside from the positive effect it has on consumers, the plunge in energy could have a negative effect in other sectors of the market.

"You also have a very strong dollar," he said. "Multinationals will have their earnings decreased if they aren't fully hedged."

S&P 500 e-mini futures were down 9 points and fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract, indicated a lower open. Dow Jones industrial average e-mini futures fell 69 points and Nasdaq 100 e-mini futures lost 13.5 points.   Continuación...