Stock Market: Futures Show Mixed Activity in Holiday Trading

U.S. stock futures seesawed Monday morning amid quiet holiday trade.

Dow Jones Industrial Average futures were trading lower by 5 points, or 0.02%, while S&P 500 futures and Nasdaq futures were both trading up 0.02%.

Futures markets will trade until 1 p.m. EST, but the major stock exchanges are closed in observance of Martin Luther King Jr. Day.

Elsewhere, energy futures were under modest selling pressure following a report from Canada’s CBC News, which said President-elect Joe Biden is considering canceling the permit for the Keystone XL Pipeline on his first day in office. The pipeline, which has been delayed by legal issues, would move 830,000 barrels per day of crude oil from Alberta, Canada, to Steele City, Neb. West Texas Intermediate crude oil was trading down 11 cents at $52.25 per barrel.

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In metals, gold was up 80 cents at $1,830.70 per ounce and silver gained 4.4 cents to $24.91 an ounce.

European markets were trading mixed with Germany’s DAX 30 edging up 0.14% while Britain’s FTSE 100 and France’s CAC 40 were weaker by 0.25% and 0.21%, respectively.

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In Asia, Japan’s Nikkei 225 slid 0.97%, China’s Shanghai Composite rallied 0.97% and Hong Kong’s Hang Seng advanced 1.01%.