Here’s what’s shaking:
U.S. stock futures are edging higher ahead of reports on manufacturing in March and construction spending in February.
After a three-day Easter holiday weekend, Dow Jones industrial futures were up 10 points at 14,507. S&P 500 futures edged up 0.4 point to 1,563.10. Nasdaq futures were up 3 points to 2,814.
The Institute for Supply Management is expected to report Monday that its manufacturing index grew for the fourth consecutive month in March, albeit at a slightly slower pace than in February.
Separately, the Commerce Department is expected to report that spending on construction projects rebounded in February, after a decline in January.
Both reports are expected at 10 a.m. Eastern time
The price of oil fell Monday as traders took profits following a recent run-up in prices.
Benchmark oil for May delivery was down 40 cents to $96.87 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 65 cents to close at $97.23 a barrel on Thursday. The market was closed Friday for the holiday.
Oil gained more than $4 in recent sessions, driven by signs of strength in the U.S. economy. Higher prices motivated investors to cash in.
“Oil prices pulled back some this morning primarily due to profit-taking. Prices rose last week based on strong performance in the equities market and also a weaker dollar,” said Victor Shum, energy analyst at Purvin & Gertz in Singapore.
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The Associated Press contributed to this report.
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