Before the bell: U.S. stock futures were little changed
U.S. stock futures were little changed before a report that may show manufacturing expanded at a slower pace in June.
A report today may show that manufacturing expanded in June at a slower pace as shortages of parts and components from Japan prompted factories to limit production. The Institute for Supply Manangement’s manufacturing index fell to 52 last month, its lowest level since August 2009, according to the median estimate of economists. Figures greater than 50 signal expansion.
The Thomson Reuters/University of Michigan’s final survey of consumer confidence will show a reading of 72, compared with a preliminary reading of 71.8, according to the median estimate of economists.
In corporate news:
Shares of Eastman Kodak tumbled 16% after the U.S. International Trade Commission ruled against the company in its patent dispute with Apple Inc. and Research in Motion.
Currently S&P futeres at 1315.50 (0.0%). Crude oil futures fell below $95 a barrel, while gold futures slide to around $1,490 an ounce.