U.S. equity futures are roughly unchanged this morning after pulling back last week on increasing concerns about global growth. The S&P 500 futures trade two points, or 0.1%, above fair value.
After weak manufacturing data out of Germany fueled these global growth fears last Friday, the outlook for its manufacturing sector continued to weaken, according to Germany's ifo Business Climate Index. The index did increase for the first time in seven months, though, helped by positive responses from retail and construction sectors.
Separately, Special Counsel Robert Mueller's investigation did not find that the Trump campaign conspired or coordinated with Russia, according to Attorney General William Barr's summary of the report. Mr. Mueller did not draw a conclusion on whether President Trump committed an obstruction-of-justice offense, as evidence was insufficient.
In U.S. corporate news, Apple (AAPL 192.35, +1.30, +0.7%) will host a services event at 1:00 p.m. ET today, where it is expected to introduce a new subscription service and a TV streaming service. Thermo Fisher (TMO 263.81, unch, unch), meanwhile, said it will acquire Brammer Bio for approximately $1.7 billion in cash to expand its presence into the gene therapy field.
U.S. Treasuries have reversed course and now trade higher, pushing yields even lower across the curve. The 2-yr yield is down three basis points to 2.29%, and the 10-yr yield is down two basis points to 2.44%. The U.S. Dollar Index is down 0.2% to 96.46. WTI crude is down 0.5% to $58.78/bbl.