U.S. equities rotated lower to start the week
U.S. equities rotated lower to start the week and heading towards month-end as a couple of risk events loom just over the horizon with the choppy price action in oil ahead of the OPEC meeting and the Italian constitutional referendum just a week away. The Dow is 52-points lower, S&P sank 5-points and NASDAQ is off 7-points in pre-market action. This followed hot on the heels of a downturn in Europe after a fairly subdued start in Asia. While Japan's N-225 settled just 0.13% lower and China's CSI 300 rose 0.39%, the Euro Stoxx 50 sank 0.65% and the German DAX is off 0.74%. Italian banking shares came under fresh pressure, while Bunds rallied. WTI crude is trading 0.7% firmer near $46.40 as OPEC attempts to salvage a deal from potential deal breakers of Iran and Russia, while the dollar index is consolidating 0.15% higher near 101.40. Data is limited to the Dallas Fed index later.