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US STOCKS-Futures slightly higher in bright start to Q4
October 2, 2017 / 11:38 AM / 2 months ago

US STOCKS-Futures slightly higher in bright start to Q4

* Futures: Dow up 46 pts, S&P 3.75 pts, Nasdaq up 12.25 pts

By Ankur Banerjee

Oct 2 (Reuters) - U.S. stock index futures were slightly higher on Monday, the first trading day of the fourth quarter, amid expectations of a more hawkish successor to Fed Chair Janet Yellen.

* Shares of Casino operators MGM Resorts International , Melco Resorts & Entertainment, Wynn Resorts and Las Vegas Sands dipped premarket after a gunman killed at least 50 people and wounded more than 200 at a country music festival on the Las Vegas Strip on Sunday.

* The S&P 500 and the Nasdaq advanced to record levels on Friday, while each of the major indexes closed out the third quarter with solid gains.

* President Donald Trump has met with former Federal Reserve Governor Kevin Warsh and three others and has promised a decision this month as the search for a new chief for the U.S. central bank gathers steam.

* President Trump would soon have to announce who would chair the Fed and many do think that he may favor someone who would take a more aggressive approach towards monetary policy, said Naeem Aslam, chief market analyst at ThinkMarkets UK.

* The dollar soared on Monday as U.S. Treasury yields hit their highest in almost 12 weeks, while Spanish stocks fell as a police crackdown on a unilateral independence vote in Catalonia rattled investors.

* Oil slipped as an increase in U.S. drilling and higher OPEC output put the brakes on a rally that saw prices score their biggest third-quarter gain in 13 years.

* ISM will likely report that its national manufacturing index dipped to a reading of 58.0 in September from 58.8 in August. Data is expected at 10:00 a.m ET (1400 GMT)

* Federal Reserve Bank of Dallas President Robert Kaplan scheduled to participate in a moderated Q&A session hosted by the Dallas Federal Reserve at 2:00 p.m ET.

* Shares of Nordstrom slipped in premarket following a New York Post report that talks to take the department store operator private are faltering.

Futures snapshot at 7:07 a.m. EDT:

* Dow e-minis were up 46 points, or 0.21 percent, with 16,420 contracts changing hands.

* S&P 500 e-minis were up 3.75 points, or 0.15 percent, with 107,301 contracts traded.

* Nasdaq 100 e-minis were up 12.25 points, or 0.2 percent, on volume of 20,110 contracts. (Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)

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