US Futures Fall as Busy Earnings Week Kicks Off With Disappointing Earnings from Caterpillar

US stock futures fell on Monday as disappointing earnings from industrial giant Caterpillar (CAT) signaled a gloomy start for the busiest week of the corporate earnings season.

Oil prices nudged lower with global benchmark Brent crude down 1.51%, while US crude West Texas Intermediate was down 1.69% recently after data from late last week showed an increase in the number of operating rigs in the US.

At 8:30 am, data are expected to show the Chicago Fed National Activity Index coming in at 0.15% for December vs 0.22 in November, according to data compiled by Econoday.

At 10 am, the general activity index based on the Dallas Fed manufacturing survey is expected to come in at a minus 4.6 in January vs minus 5.1 in December.

In equities, shares of Trevena Inc. (TRVN) were 27.5% higher pre-bell after the biopharmaceutical company said that the US Food and Drug Administration has agreed to the company’s current safety database for its new drug application for oliceridine.

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