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Market futures for monday hint at sideways trading

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Market futures for Monday hint at sideways trading, with traders assessing inflation risk versus corporate earnings strength. Bond yields have eased slightly, opening room for equity markets to recover from last week’s profit-taking. Another indicator is also flashing similar warnings as the turn of the century. The Shiller P/E ratio has topped 40. The metric takes the 10-year moving average of inflation-adjusted earnings for the S&P 500, and divides that number into the current index value. The only other time valuations were this high was amid the dot-com bubble. Exxon Mobil is cutting 2,000 positions worldwide as part of an ongoing restructuring plan, a company spokesperson confirmed to CNBC. Market futures for Monday indicate mild gains in tech-related ETFs as cloud computing earnings last week beat consensus estimates. Futures activity remains strong in this subsector.