US futures point lower before Wall Street open

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Wall Street was pointed toward a lower open Monday after last week’s furious rally that gave the major stock indexes their biggest gains of the year. On Wall Street, futures for the benchmark S&P 500 index was down 0.4% while futures for the Dow Jones Industrial Average declined 0.7%. London and Frankfurt opened higher. Tokyo and Hong Kong advanced while Sydney declined. Investors have been rattled by the Federal Reserve’s decision to try to cool inflation by accelerating plans to raise interest rates and wind down bond purchases and other stimulus that have boosted stocks.