U.S. Stock Futures Struggle After Weak Manufacturing Data

Oil gains after Goldman turns upbeat on supply

by Anora Mahmudova and Barbara Kollmeyer
Market Watch

U.S. stock futures were fighting to advance Monday, hovering near the flatline after a reading of New York-area manufacturing conditions fell sharply in May.

The Empire State general business-conditions index nose-dived to a reading of negative 9, from positive 9.6 in April. Against that weak-data backdrop. some investors believe the probability for an increase of benchmark interest rates by the Federal Reserve as a low.

Stock futures were already struggling after Chinese economic indicators pointed to more weakness, overshadowing a renewed push higher for oil prices.

Still mergers and acquisitions news jolted a handful of stocks, including Anacor Pharmaceuticals Inc.

Continue Reading at MarketWatch.com…