Futures retreat after Dow close above 14,000

Stock futures retreat after Dow Jones hits post-meltdown highs; tech and health earns on deck

Associated Press

NEW YORK (AP) -- Stock futures are in retreat on the first day of trading after the Dow Jones industrial average struck a new post-meltdown high.

Dow Jones industrial futures are down 44 points to 13,886 after closing above 14,000 Friday. The broader S&P futures have lost 5 points to 1,501.70. Nasdaq futures are down 8 points to 2,748.50.

Markets have been on a five-week rally and for the year, major U.S. indexes are up between 5 percent and 7 percent.

The earnings season continues this week with technology and health companies prominently featured.

Humana reported a 3.5 percent drop in fourth-quarter net income before markets opened Monday as the health insurer absorbed higher claims payments.

Also Monday, the Commerce Department is expected to report stronger factory orders for December.

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