|Published:||Apr 12, 2010 11:39 AM EDT|
|Updated:||Apr 12, 2010 11:39 AM EDT|
NEW YORK (AP) â€” Stock futures are trading in a narrow range Monday after concerns about Greece's debt problems eased further over the weekend.
Investors looking for signs of domestic growth will get plenty of data to sort through this week, including the start of earnings season.
Over the weekend, European leaders agreed to make loans available to Greece to help the country ease its debt burden. The 16 countries that use the euro agreed to provide 30 billion euro ($40.49 billion) in loans to Greece if the country asks for money. The International Monetary Fund would contribute another 10 billion euro ($13.5 billion) if needed.
The loans would carry interest rates below what private lenders had been demanding in recent days to hold Greek debt.
The details help calm ongoing worries that have been one of the few drags on stocks. There has been concerns in recent months that mounting debt in Greece and other European nations like Spain and Portugal would stunt an economic recovery in Europe.
European markets were trading in a narrow range following the bailout deal. The euro rose against the dollar.
Ahead of the opening bell, Dow Jones industrial average futures were unchanged at 10,953. Standard & Poor's 500 index futures fell 0.60, or 0.1 percent, to 1,192.00, while Nasdaq 100 index futures fell 1.00, or 0.1 percent, to 1,991.00.
The Dow is coming off its sixth straight weekly gain and is at its highest level in 18 months. The Dow climbed above 11,000 for the first time since September 2008 in the final moments of trading Friday before ending the session just below that threshold.
Easing concerns about Greece's debt problems on Friday helped push shares higher.
With stocks rising steadily in recent months, investors could take a cautious approach to trading Monday heading into earnings season. Traders will want to see fresh signs of economic growth as first-quarter results are announced in the coming weeks.
Dow component Alcoa Inc. kicks of earnings season after the market closes Monday. Intel Corp., JPMorgan Chase & Co., Bank of America Corp., Google Inc. and General Electric Co. all also report earnings this week.
Reports on inflation, retail sales, manufacturing and housing will be released throughout the week as well. Stocks have been rising steadily in recent months as reports show steady but slow economic growth.
A panel of academics that pinpoints the length of recessions said it's still too early to put an end-date on the most recent recession based on current economic reports.
Bond prices fell Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.88 percent late Friday.
Oil fell while gold rose slightly.
Overseas, Britain's FTSE 100 fell less than 0.1 percent, Germany's DAX index dipped less than 0.1 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average rose 0.4 percent.