US futures flat ahead of Geithner-Draghi meeting

NEW YORK (AP) ? U.S. stock futures were flat Monday as Treasury Secretary Timothy Geithner headed to Europe, where the latest economic data suggested a tricky path to recovery.

Dow Jones industrial futures fell 20 points to 13,013 and the broader S&P futures gave up 3.4 points to 1,379.10. Nasdaq futures gained 2.75 points to 2,644.75.

The European Commission released a report Monday showing that economic sentiment dipped, with pessimism growing in both the industrial and service sectors. There were sharp declines in Germany, France and in Spain. The report was released on the same day that Spain's National Statistics Institute said that its economy contracted for the third straight quarter.

Geithner is meeting his German counterpart and the head of the European Central Bank on Monday, whose comments last week sent markets sharply higher.

European Central Bank President Mario Draghi pledged to do what was needed to save the euro, at least within the organization's mandate.

Those comments appeared to buoy markets in Europe for a second week.

In Europe, Germany's DAX rose 62.22 points to 6751.62 while the CAC-40 in France rose 0.5 percent higher at 3,295. The FTSE 100 index of leading British shares gained 54.05 points to 5627.21.

U.S. markets appeared to focus on the latest economic data out of Europe, however, with no major U.S. corporate earnings Monday and no economic indicators at home.

Later this week, the Labor Department releases its July employment report, and many investors may be staying on the sidelines until then.

Hiring has slowed sharply compared with the first three months of the year. Employers added only 80,000 jobs in June, the third straight month of weak hiring. The unemployment rate seems stuck around 8 percent.

Source: http://news.yahoo.com/us-futures-flat-ahead-geithner-draghi-meeting-123523357--business.html

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