Futures Pointing To Initial Weakness On Wall Street

(RTTNews) - Stocks are likely to come under pressure in early trading on Monday following the rally seen in the previous week. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 75 points.

Profit taking may contribute to early weakness on Wall Street, as traders cash in on the strong gains posted last week.

Trading activity is likely to be relatively subdued, however, with some traders still away from their desks following the Christmas holiday.

The upcoming week will also be holiday-shortened due to the New Year's Day holiday, which will keep the markets closed on Friday.

The economic calendar for the week is relatively light, although traders are likely to keep an eye on reports on consumer confidence, pending home sales, and Chicago-area business activity.