U.S stock futures point to a lower opening Monday morning, despite easing of Dubai financial crisis on assurance from the Central Bank of the United Arab Emirates to local and foreign banks. Weaker than expected retail sales on Thanksgiving Holiday might impact traders' sentiment. Traders will be looking at retailers' performance on the eve of Cyber Monday, following marginal rise in sales on Thanksgiving Day, for further cues on consumer spending during the holiday season.
As of 6.15 am ET, the Dow futures were down 26.00 points, the S&P futures were down 3.10 points, and the tech-heavy Nasdaq 100 futures were down 5.50 points.
Initial reports from the National Retail Federation on sales during the Thanksgiving Day revealed that the average consumer spent lesser this time around in comparison to the same period last year, though the number of shoppers on Thanksgiving Day increased over the same period last year.
Traders will also focus on the results of the Institute of Supply Management-Chicago's business survey for November, scheduled for release at 9:45 AM ET. Economists expect the business barometer index based on the survey to come in at 53.
The Central Bank of the United Arab Emirates, on Sunday, stated that it would extend additional funds for local and foreign banks to cope with the financial crisis resulting from the failure of Dubai World. Following comments, the markets across Asia reversed trend and surged up, on optimism that the crisis will not jeopardize recovery prospects for the world economy.
In other corporate news, the second largest maker of mobile phones in the world, Samsung Electronics revealed that it would surpass the expectations for the year 2009, helped by better than expected performance in the touch screen model phones.
Oil Light sweet crude oil price for January delivery is presently quoted at $76.20 a barrel, up $0.15 from its previous close of $76.05 a barrel in New York on Friday.
Dollar The US dollar is presently weakening against the euro and the yen, but gaining against the pound.
World Markets The markets across Asia recovered smartly and ended in positive territory as the financial crisis in Dubai eased considerably. The Central Bank of United Arab Emirates, on Sunday, revealed that it would extend additional funds to the local and foreign banks impacted in the crisis related to Dubai World. Banks and commodity stocks led the gains on expectations that the financial crisis in Dubai might not jeopardize the recovery prospects in the world economy. The European markets, however, are presently trading in negative territory.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.