By Oliver Gray
Investing.com - U.S stock futures fell in early APAC deals on Monday as investors digested a weaker than expected labor market report released on Friday, while remaining cautious ahead of the FOMC minutes due later in the week.
In regular trading Friday, the Dow slipped 8.69 points to 34,746.25. The S&P 500 lost 0.2% to 4,391.34. The Nasdaq Composite fell 0.5% to 14,579.54, easing from gains of 1.4%, 1% and 0.61% last week, respectively.
Dow futures fell 0.33%. S&P 500 and Nasdaq 100 futures lost 0.39% and 0.4%, respectively.
Among stocks, this week sees third-quarter earnings season beginning, with big banks such as JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS) reporting earnings results.
On the bond markets, United States 10-Year yields surged to fresh 4-month highs of 1.615%.
On the data front, The Labor Department reported Friday that the economy added just 194,000 jobs in September, coming in well below market expectations of 500,000. Meantime, market participants will be focused on the FOMC minutes due Wednesday for clues on the upcoming taper timing. At its last meeting, the Federal Reserve noted that if progress towards employment and inflation goals continues broadly as expected, a moderation in the pace of asset purchases might soon be warranted and interest rate hikes could follow more quickly than expected.