Futures on major U.S. indices point to a slight rebound on Wall Street Monday after a string of losses last week amid worries Greece might leave the euro and an emerging debt crisis in Spain.
Futures on the S&P 500 are up 0.64 percent, futures on the Dow Jones Industrial Average are up 0.55 percent and Nasdaq 100 futures are down 0.64 percent.
Sentiment slightly improved Monday as leaders of G8 nations at the Camp David summit over the weekend expressed their desire to keep Greece in the euro zone and vowed to address the issue of financial market turmoil and stagnant economic growth.
Our imperative is to promote growth and jobs. The global economic recovery shows signs of promise, but significant headwinds persist. We agree on the importance of a strong and cohesive euro zone for global stability and recovery, and we affirm our interest in Greece remaining in the euro zone while respecting its commitments, G8 leaders said in a joint statement released after the summit at the presidential retreat in Maryland.
Meanwhile, Chinese Premier Wen Jiabao, during a visit to Hubei Province over the weekend, said China would focus more on maintaining growth.
Remarks from the premier made during field trips are always in recognition that policymakers have noticed changes in economic fundamentals and are ready to respond. At this stage 'bigger' priority means biggest priority, which is a clear signal of more policy is easing to come, said a note from Societe Generale.
Last week, U.S. stocks posted their third weekly losses in a row as the possibility of Greece exit from the euro zone and downgrades of the banking system in other peripheral economies coupled with weak U.S. economic data weighed on markets. The Dow Jones Industrial Average and the S&P 500 suffered their third weekly losses in a row, with S&P 500 dipping below the 1,300 mark for the first time since January.
On the corporate front, shares of Facebook (Nasdaq: FB) will be in focus after a modest debut last week. The shares closed at $38.23 on Friday, almost four points lower than its opening level of $42.05. In premarket trading Monday, the shares rose 1 cent to $38.24.
In Europe, stock markets were mixed. Germany's DAX 30 rose by 52.51 points, France's CAC 40 rose by 11.89 points and London's FTSE 100 index fell by 46.89 points.