Stock futures were trading flat to slightly down early Monday as economist Mario Monti took over as prime minister in Italy, replacing Silvio Berlusconi. Italy sold 3 billion Euros worth of bonds, at 6.29%, and the yield on five-year notes jumped to 6.57% afterward, a sign that the company’s debt problems are still far from over. European indexes fell, with France’s CAC 40 down 1.2%.
Dow futures fell 12 points to 12,100; S&P 500 futures fell 4.9 points to 1,256.7. Bank stocks, which had fallen in early trading, are climbing back. Bank of America (BAC) was up 0.2% early.
Boeing (BA) jumped 3.2% after the United Arab Emirates made an $18 billion airplane order. JC Penney (JCP) fell 2.3% after posting a loss.
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