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A worker operates on a picture and mirror frame assembly line at a factory in Zibo, Shandong Province May 28, 2012. (ALY SONG/REUTERS)
A worker operates on a picture and mirror frame assembly line at a factory in Zibo, Shandong Province May 28, 2012. (ALY SONG/REUTERS)

Premarket: Hoping for good factory numbers Add to ...

Investors are hoping that a rise in U.S. factory orders will buoy markets Monday after last week’s selloff. The latest economic data isn’t due until half an hour after North American markets open, and index futures were mixed in advance of the opening bell, with S&P 500 and TSX futures edging forward and Dow Jones futures off a fraction.

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Economists are forecasting that U.S. factory orders rose 0.2 per cent in April after a 1.5 per cent decline the previous month. Investors are looking for some positive data after a wave of disappointing reports. On Sunday, China said growth in its services industries weakened. On Friday, the U.S. reported that job growth had slowed and manufacturing output last month was less than expected.

European markets are mixed today. Lending costs for Spain and Italy declined slightly, but any good news has been overshadowed by the growing rift between Germany and the rest of the euro zone over a bailout. German Chancellor Angela Merkel has become more outspoken against debt-sharing arrangements, saying on the weekend that she should will never agree to German-backed euro bonds.

Markets:

China’s Hang Seng index down 2 per cent

Japan’s Nikkei 225 index down 1.7 per cent

London’s markets are closed today

France’s CAC 40 up 0.7 per cent

Germany’s DAX index down 0.7 per centSpain’s IBEX 35 index up 2.7 per cent

Commodities:

Oil down 1.7 per cent to $81.82 (U.S.) a barrel

Gold up 0.02 per cent at $1,622.50 an ounce

Copper futures down 0.8 per cent to $3.288 (July delivery)

Canadian dollar up 0.3 per cent to 96.36

Economic data:

10 a.m. (ET) U.S. factory orders are expected to have risen 0.2 per cent in April, following a 1.5 per cent decrease the previous month, which was the steepest decline in two years.

Stocks to watch:

There are no major earnings reports today.

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