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PreMarket: Crude oil on the move

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WORLD HEADLINES – Stocks dropped in Asia and Europe and futures foreshadowed losses in U.S. equities as investors weighed prospects of major oil producers agreeing output curbs at talks this week.

STOCKS – Futures on the S&P 500 Index fell 0.2 percent following a 0.6 percent drop in the benchmark on Friday.

BONDS –  The yield on U.S. Treasuries due in a decade declined by one basis point to 1.60 percent after sliding seven basis points last week.

COMMODITIES –  Algeria’s Energy Minister said Saudi Arabia, the world’s No. 1 oil exporter, has offered to cut production to January levels to help convince other major producers to agree output curbs this week in Algiers.

CURRENCIES – The US dollar was little changed following a 0.6 percent loss last week.

ECONOMIC DATA –  US New Home Sales due at 10:00, ECB President Draghi Speaks at 11:05, FOMC Member Tarullo Speaks at 11:45, BOC Gov Poloz Speaks at 19:10 ET.


 

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