LONDON (ShareCast) - US stock markets were expected to open slightly lower on Monday as investors paused for breath following five weeks of gains that sent the S&P 500 to another all-time high.
S&P 500 futures were 0.1% lower ahead of the opening bell in New York as the index looked set to retreat from a record 2,007.71 reached on Friday.

Dow Jones Industrial Average futures were also down 0.1%, while the Nasdaq was broadly flat.

Market analyst Craig Erlam from Alpari UK said that Monday's session in the States is "looking very quiet" with no major economic data due out.

"This means the major drivers for US markets are likely to be developments around geopolitical events, with the newly agreed ceasefire in eastern Ukraine already coming under threat after shelling was reported in two cities."

Ukraine and Russia have accused each other of violating the ceasefire that was agreed on Friday, as shelling and gunfire in eastern Ukraine resumed over the weekend.

The city of Mariupol, where a woman was killed on Sunday night, remains in Ukrainian hands but reports say the town on the Sea of Azov could soon come under assault from pro-Russian rebels. Meanwhile, blasts were also heard in Donetsk with both parties reciprocally accusing each other of firing first and threatening the truce.

In corporate news, shares of General Electric were on the rise in pre-market trade after Swedish group Electrolux agreed to pay the conglomerate $3.3bn for its appliance division. GE has been trying to offload the division for several years.

Apple will be in focus ahead of the widely-anticipated launch of its iPhone 6 on Tuesday, as well as a "new product category" of device that it has promised in recent months.

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