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U.S. stocks set to start week lower in shadow of U.K. terror attacks

U.S. stock futures slipped Monday, as investors tried to look
past a fresh terror attack in the U.K. to potentially
market-moving events later in the week, and as oil prices rose
on a rift among Gulf states.

This week will deliver testimony by Federal Bureau of
Investigation Director James Comey, as well as the U.K. general
election and a European Central Bank meeting.

Dow Jones Industrial Average futures


 fell 20 points to 21,183, while S&P 500


 eased 2.7 points to 2,435. Nasdaq-100 futures

NQM7, -0.12%

 dropped 6.75 points to 5,879.25.

On Friday, the three major indexes closed at records for a
second straight session, as investors
brushed aside a weaker-than-expected May jobs report. The
S&P 500


 rose 1% for the week, the DJIA


 gained 0.6%, and the Nasdaq Composite Index

COMP, +0.94%

 surged 1.5%.

The FTSE 100 index

UKX, -0.21%

 and European stocks were weaker on Monday, after Saturday
evening’s terror attack near London Bridge. Three assailants in
a van mowed down pedestrians, then went on a knife rampage in
Borough Market. Seven people died and dozens were injured, 21

Read: Police arrest 12 in London raids after terror

The terror incident comes just days ahead of the U.K. election
on Thursday. Investors will watch to see whether Prime Minister
Theresa May’s Conservative Party, which is looking for backing
for its strategy for exiting the European Union, will manage to
keep its majority in parliament. The vote could lead to more
uncertainty over Brexit.

Read: U.K. election—the worst, best and most likely
scenarios for stocks world-wide

And see: 5 things to know about the U.K. general
election this week

Economic docket: A revision
to first-quarter productivity numbers, along with unit-labor
costs for the same period, is due at 8:30 a.m. Eastern Time.
The final Markit services purchasing managers index for May is
due at 9:45 a.m. Eastern.

That’s followed at 10 a.m. Eastern by the May update of the
Institute for Supply Management’s nonmanufacturing index, with
a reading on factory orders for April due at the same time.

A turbulent week ahead: The U.K. election is
just one of three key events expected on Thursday.

Former FBI head Comey, who was fired by U.S. President Donald
Trump last month, is due to testify before the Senate
Intelligence Committee on Russia’s role in the U.S.
presidential election on Thursday. Of key interest will be
comments by Comey as to whether he was pressured to drop a
probe into possible collusion between the Trump campaign and
Russian officials.

See: Top Democrat says there’s smoke, but ‘no
smoking gun’ yet in Russia probe

And check out: Trump weighing whether to block Comey
testimony to Senate

A European Central Bank meeting in Talinn, Estonia is scheduled
on the same day. Investors will be watching to see if the
central bank offers any clues about when it will begin tapering
its stimulus program.

In addition, stocks are entering a traditionally turbulent
period, with Bespoke Investment noting that equities tend to
fall around 0.79% in the two-week span between May 30 and June

Read: Stock market bracing for potentially the
stormiest stretch of trading this year

Stocks to watch: Shares of TG
Therapeutics Inc.


 rose 11% on Monday after the company
announced positive trial news over the weekend
regarding a combination treatment for patients with previously
treated high-risk Chronic Lymphocytic Leukemia.

The drugmaker said it would share the data with the Food and
Drug Administration later this year to discuss filing for
accelerated approval.

Apple Inc.


 shares slipped 0.8% in premarket trading
after Pacific Crest downgraded shares to sector weight from
, saying all the good news from the iPhone 8 has
been priced in, but not enough risk..

U.S. private-equity firm Blackstone Group


 has made a $1.98 billion takeover bid for
real-estate investor Sponda PLC

SDA1V, +20.81%

  sending the Finnish company’s shares surging over 20%
on Monday.

Other markets: Gold prices


 inched higher. The British pound

GBPUSD, +0.1551%

slipped after Saturday evening’s terror
. Asian stocks

ADOW, -0.23%

 finished the day largely weaker.

Oil prices


  pared a gain of more than 1% seen earlier
in the European session and in Asian trading. The rise was
driven by news that Saudi Arabia, Egypt, Bahrain and the United
Arab Emirates had cut relations with Qatar after accusing the
country of interfering in internal affairs and
supporting terrorism

That news left the Qatar QE index down more than 7% on Monday.

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