US stocks head for largely flat open after down week;
NEW YORK -- U.S. stocks headed for a largely flat open Monday following a steep slide last week and as Wall Street searched for any insights that could indicate how consumers are faring amid an economic slowdown.
With little in the way of economic news slated to arrive Monday, investors examined quarterly results from Hasbro Inc. for insights into the health of consumer spending. The toy maker posted a 24 percent increase in its fourth-quarter earnings as revenue increased.
Wall Street is eager to determine how well consumers are holding up as consumer spending comprises more than two-thirds of U.S. economic activity. Later in the week, government figures are due on retail sale for January. Reports this week could reveal the extent to which concerns about rising prices, continued weakness in the housing market and an economic slowdown might be denting consumer spending.
Corporate dealmaking, often regarded by Wall Street as a barometer of the health of the economy, came into focus again over the weekend after Yahoo Inc.'s board decided to reject a $44.6 takeover offer from Microsoft Corp., a person familiar with the situation told The Associated Press.
Dow Jones industrial average futures rose 22, or 0.18 percent, to 12,199. Standard & Poor's 500 index futures rose 2.70, or 0.20 percent, to 1,333.00, and the Nasdaq composite index futures rose 2.50, or 0.14 percent, to 1,779.00.
Last week, the Dow fell 4.40 percent, the Standard & Poor's 500 index declined 4.60 percent, and the Nasdaq composite index dropped 4.50 percent. The decline has left stocks sharply below its recent highs. The Dow is 14 percent below its Oct. 9 record close of 14,164.53, but is about 4.7 percent above the 15-month lows it hit in January.
Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.66 percent from 3.65 percent late Friday.
The dollar was mixed against other major currencies, while gold prices rose.
Light, sweet crude oil fell 2 cents to $91.75 per barrel in premarket electronic trading on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average was closed for a holiday, while Hong Kong's Hang Seng index finished down 3.64 percent. In morning trading, Britain's FTSE 100 fell 0.51 percent, Germany's DAX index slid 0.02 percent, and France's CAC-40 fell 0.17 percent.