Equity indexes lower on China, Italy
U.S. equity indexes are down this morning after hitting record levels last week as the market digests disappointing reports overseas.
S&P 500 futures are down 0.2 percent after the benchmark index closed at its highest levels since late 2007. Nasdaq 100 futures are off by about the same margin. The indexes have been paring back their pre-market losses in the last hour.
China's industrial output and retail sales came in lower than expected in data released over the weekend, while inflation climbed. The Shanghai Composite dropping 0.35 percent in reaction to the news, while Hong Kong's Hang Seng was off fractionally.
Most European indexes are lower, with Germany's DAX is down 0.25 percent and the CAC-40 falling 0.4 percent. The U.K. FTSE 100 is about flat.
European bourses are lower after Fitch downgraded Italy's credit rating to BBB-plus on Friday after the markets closed. The ratings agency cited political instability after the country's recent elections failed to declare a clear winner for prime minister.
Japanese indexes were among the few to show strength globally as the yen continues to fall. The Nikkei up 0.53 percent.
Commodities are mixed, with oil futures up fractionally. Gold is ticking higher, while silver and platinum are both down about 0.4 percent.
In company-specific news, Dick's Sporting Goods is down this morning after missing earnings and revenue estimates. The specialty retailer saw bullish option activity on Friday .
Sony may move this morning after Chairman Howard Stringer announced his resignation over the weekend. The stock gained in Japanese markets after that news.
More From optionMONSTER