WASHINGTON (dpa-AFX) - After turning in a strong performance last week,
stocks may show a lack of direction in early trading on Monday. The major index
futures are currently pointing to a slightly higher open for the markets, with
the S&P 500 futures up by 0.1 percent.

Traders may be reluctant to make significant moves ahead of several key economic
events this week that could have a significant impact on the outlook for
interest rates.

While the economic calendar gets off to a slow start today, reports on consumer
and producer prices in June will be in the spotlight in the coming days.

The Labor Department's report on consumer prices is expected to show a slowdown
in the pace of annual price growth, which could bolster optimism about a rate
cut in September.

Traders are also likely to pay close attention to Federal Reserve Chair Jerome
Powell's congressional testimony this week, looking for clues about the interest
rate outlook.

Stocks moved mostly higher over the course of the trading day on Friday, with
the major averages all moving to the upside after turning in a mixed performance
early in the session. The Nasdaq and the S&P 500 closed higher for the fourth
straight session, once again reaching new record closing highs.

The major averages reached new highs for the session going into the close of
trading. The Nasdaq jumped 164.46 points or 0.9 percent to 18,352.76, the S&P
500 climbed 30.17 points or 0.5 percent to 5,567.19 and the Dow rose 67.87
points or 0.2 percent to 39,375.87.

For the holiday-interrupted week, the Nasdaq spiked by 3.5 percent, the S&P 500
surged by 2.0 percent and the Dow advanced by 0.7 percent.

In overseas trading, stock markets across the Asia-Pacific region moved mostly
lower during trading on Monday. Japan's Nikkei 225 Index fell by 0.3 percent,
China's Shanghai Composite Index slid by 0.9 percent and Hong Kong's Hang Seng
Index tumbled by 1.6 percent.

Meanwhile, the major European markets are seeing modest strength on the day.
While the German DAX Index is up by 0.3 percent, the U.K.'s FTSE 100 Index is up
by 0.2 percent and the French CAC 40 Index is just above the unchanged line.

In commodities trading, crude oil futures are slipping $0.53 to $82.63 a barrel
after falling $0.72 to $83.16 a barrel last Friday. Meanwhile, after surging
$28.30 to $2,397.70 an ounce in the previous session, gold futures are sliding
$14.90 to $2,382.80 an ounce.

On the currency front, the U.S. dollar is trading at 160.77 yen versus the
160.75 yen it fetched at the close of New York trading on Friday. Against the
euro, the dollar is trading at $1.0839 compared to last Friday's $1.0840.



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