U.S. stock index futures point to a mixed open Monday as investors remained cautious waiting for the Federal Reserve to announce monetary easing measures to revive economic growth momentum.
Futures on the Dow Jones Industrial Average are down 0.05 percent, futures on the Standard & Poor's 500 Index are up 0.05 percent, and those on the Nasdaq 100 Index are up 0.3 percent.
Investors are likely to remain watchful ahead of Federal Reserve Chairman Ben Bernanke's speech at the Jackson Hole symposium in Wyoming Friday. Market players are hoping for an announcement of the monetary stimulus policy by the U.S. Fed in the face of intensifying pressures on the economy. Last month, Bernanke underlined that the Fed remained prepared to take action as needed to protect the U.S. financial system in the event of financial stresses escalating.
On Friday, U.S. markets rose as investor confidence was lifted by hopes that the Fed will soon announce stimulus measures to rejuvenate economic growth. Bernanke noted in a letter sent to the chairman of the House Oversight Committee, Rep. Darrell Issa, that there was scope for further action by the Fed to ease financial conditions and strengthen the recovery.
The Dow Jones Industrial Average rose 0.77 percent, the S&P 500 Index was up 0.65 percent, and the Nasdaq Composite Index advanced 0.54 percent.
Major European indices were in red as investors remained watchful waiting for policymakers to announce stimulus measures to boost the faltering euro zone economy. ECB President Mario Draghi will address the Jackson Hole Symposium Saturday. Investors sensed the urgency for the ECB to announce monetary easing measures to strengthen the euro zone economy.
Germany's DAX 30 Index fell 16.79 points, and France's CAC 40 declined 12.20 points. London's FTSE 100 was closed for holiday.
Most of the Asian stocks fell following global cues. The official Xinhua News Agency reported Saturday that China's Premier Wen Jiabao supported extra measures to lift exports and make sure that economic targets were achieved. However, this could not support market confidence.