S&P 500 futures down 9.4 points after 8.1 point gain on Friday
US stock futures were already in negative territory but a soft Empire Fed reinforced the negative tone to start the week.
The NAHB housing market index is due at 10 am ET (1400 GMT) but it's rarely a market mover so it will be the ebb and flow of sentiment driving markets today. The third week of August is traditionally one of the quietest of the year and low volumes have tended to lead to a slow increase in stocks over the past few years.
S&P 500 futures
One thing weighing on sentiment is the lack of profit growth in the S&P 500. The WSJ reports today that with about 93% of companies reporting second quarter earnings, profit growth was down 15.8% from Q2 2014 on a GAAP basis.
