* Futures: Dow up 17 pts, S&P down 0.5 pts, Nasdaq down 20
By Tanya Agrawal
Dec 12 S&P 500 and Dow futures were little
changed while Nasdaq futures were lower on Monday, after the
three major indexes registered fresh record highs on Friday.
* President-elect Donald Trump's expected agenda of economic
stimulus and reduced taxes and regulations has fueled a market
rally, with the S&P rising 5.6 percent since Nov. 8 to Friday's
* Investors are keeping an eye on the U.S. Federal Reserve's
last meeting for the year, beginning Tuesday, with a statement
from Fed Chair Janet Yellen on Wednesday. The central bank is
widely expected to raise benchmark interest rates, with market
participants looking for clues about the pace of future hikes.
* Traders are pricing in a 94.3 percent chance of a hike
this month, according to Thomson Reuters data.
* "The most recent 'dot plot' from the September meeting
shows another two rate hikes are projected for 2017, which is in
line with markets expectations, and investors are wondering if
these dots are going to move higher when released on Wednesday,"
said Hussein Sayed, chief market strategist at forex broker
* The dollar rose to its highest since February
against the yen on Monday as U.S. bond yields climbed on the
back of expectations of broadly higher inflation, driven by a
rise in global oil prices.
* Oil rose by as much as 6.5 percent to an 18-month high
after OPEC and some of its rivals reached their first deal since
2001 to jointly reduce output to try to tackle global oversupply
and boost prices.
* Ophthotech slumped 78.3 percent to $8.40 in
premarket trading after Novartis said a combination of
its eye drug along with Ophthotech's did not produce better
* Oil majors Exxon Mobil Corp and Chevron
were up 1.5 percent and 1.7 percent, respectively, after a jump
in oil prices.
Futures snapshot at 7:06 a.m. ET (1206 GMT):
* Dow e-minis were up 17 points, or 0.09 percent,
with 14,976 contracts changing hands.
* S&P 500 e-minis were down 0.5 points, or 0.02
percent, with 166,234 contracts traded.
* Nasdaq 100 e-minis were down 20 points, or 0.41
percent, on volume of 12,813 contracts.
(Reporting by Tanya Agrawal; Editing by Sriraj Kalluvila)