Stock futures slip as Iraq violence overshadows NY manufacturing data

|By:, SA News Editor

Stock futures indicate a slightly weaker open as traders contend with al-Qaeda's assault on Baghdad and Russia cutting off gas supplies to Ukraine; S&P, Dow and Nasdaq all -0.2%.

Manufacturing activity in the New York region rose unexpectedly in June even after hitting a near four-year high in May

All of Europe's major bourses trade in the red; markets ended mixed across Asia, with the Nikkei (-1.1%) lost ground as the yen strengthened.

Stocks worth watching include Medtronic after its purchase if Ireland-based rival Covidien for $42.9B in a deal that could increase concerns about U.S. companies striking deals to cut their tax bills.

Treasurys trade mixed, with selling up front while buyers are in control at the long end; the two-year note +1.7 bps at 0.468% as the 10-year trades -1.2 bps at 2.592%.

Still ahead: NAHB housing index.