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U.S. stock futures inched higher, but were relatively flat, indicating investors are more cautious as they return from the holidays. Last week, markets staged a rally with all three major indexes at highs for the year. The last trading week of the year begins with Airlines, retailers, health insurers in focus following major news in each sector. Volumes are still expected to be low.An attempt to blow up a U.S. passenger Northwest Airlines Detroit-bound jet on Christmas Day caused led to new security measures and travel restrictions that increase costs and inconvenience for airlines and passengers.
Retail sales during the 2009 holiday shopping season climbed 3.6%, according to MasterCard Advisors unit SpendingPulse -- a better performance than last year. Retailers will be in focus, from high end department stores such as Saks Inc (SKS) to electronics chains such as Best Buy Co Inc (BBY) and apparel retailers such as Gap Inc (GPS).
Meanwhile, health insurers may be in focus too after the Senate passed the health care bill on Thursday.
No economic reports are scheduled for release on Monday, but plenty of indicators are on tap for the rest of the week, including housing, consumer confidence, labor and manufacturing indicators.
Overseas, Japanese shares hit a four-month high, leading gains in Asian stocks on growing investor optimism about the global economy. Sentiment was boosted as Toyota (TM) said it is increasing output in 2010 and as Japan's factory output rose the most in six months in November thanks to a recovery in export demand from Asia. European stock markets also moved higher Monday as investors came back from a long holiday weekend.
Oil prices, meanwhile, held near $78 a barrel and the dollar was stronger against the yen and the euro.
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