Futures Pointing To A Modestly Lower Open On Wall Street

(RTTNews) - After turning in a strong performance last week, stocks may give back some ground in early trading on Monday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 17 points.

Profit taking may contribute to some early weakness on Wall Street after last week's gains lifted the Dow and the S&P 500 to new record closing highs. The tech-heavy Nasdaq also reached its best levels in over two months.

While recent economic data suggests that the U.S. economy has recovered from the winter doldrums, there is some uncertainty about whether the pace of growth supports further upside for the markets.

Nonetheless, trading activity may be somewhat subdued amid the lack of major U.S. economic due to be released on the day.

Some key data is scheduled to be released later in the week, including reports on retail sales, producer prices, and consumer sentiment.

Upbeat economic data from Japan and China may also help to limit any early downside among U.S. stocks.