Futures point to lower open U.S. equity futures are pointing to a lower open as the clock continues to tick towards the fiscal cliff. The lack of progress towards a fiscal cliff deal has unnerved investors over the past week, as stocks have finished the last four trading sessions lower. Investors will be looking at several economic data points today, including the Chicago purchasing managers' report, pending home sales for November, and the weekly energy inventory reports.
BofA/Merrill to hold a conference 2015 Payments & Card Conference is being held in Scottsdale, AZ on May 18-20.
Futures slightly lower ahead of opening of new week U.S. equity futures are below fair value following a weekend of quiet news flow. The first quarter earnings season is winding down and investors are beginning to look forward to the long Memorial Day weekend. Today’s focus will be on the housing data due out at 10:00am EDT with the release of the NAHB housing market index. Many have expressed concern that the housing rebound will remain muted for the foreseeable future as the Fed gears up to begin raising interest rates.