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Stocks May Move Back To The Upside In Early Trading - U.S. Commentary


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(RTTNews.com) - After moving lower in the two previous sessions, stocks are likely to move back to the upside in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 44 points.

Upbeat earnings news from companies such as Kimberly-Clark (KMB) and Halliburton (HAL) may contribute to early strength on Wall Street.

Trading activity is likely to be somewhat subdued, however, with traders looking ahead to the release of quarterly results from other well-known companies in the coming days.

Google parent Alphabet (GOOGL), Intel (INTC), Microsoft (MSFT), Coca-Cola (KO), Boeing ( BA ), and Verizon (VZ) are among the companies due to report their results this week.

Shortly after the start of trading, the National Association of Realtors is scheduled to release its report on existing home sales in the month of March.

Existing home sales are expected to edge up by 0.2 percent in March after jumping by 3.0 percent to an annual rate of 5.54 million in February.

Stocks moved notably lower over the course of the trading session on Friday, adding to the losses posted on Thursday. With the drop, the Dow pulled back further off the one-month closing high it set on Tuesday.

The major averages climbed off their worst levels going into the close but remained firmly negative. The Dow slid 201.95 points or 0.8 percent to 24,462.94, the Nasdaq tumbled 91.93 points or 1.3 percent to 7,146.13 and the S&P 500 slumped 22.99 points or 0.9 percent to 2,670.14.

Despite the weakness on the day, the major averages closed higher for the week. The Dow rose by 0.4 percent, while the Nasdaq and the S&P 500 climbed by 0.6 percent and 0.5 percent, respectively.

In overseas trading, stock markets across the Asia-pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index fell by 0.3 percent, while Hong Kong's Hang Seng Index dropped by 0.5 percent.

Meanwhile, the major European markets are roughly flat on the day. While the U.K.'s FTSE 100 Index just below the unchanged line, the French CAC 40 Index and the German DAX Index are both marginally higher.

In commodities trading, crude oil futures are slumping $0.99 to $67.41 a barrel after inching up $0.09 to $68.38 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,326.90, down $11.40 from the previous session's close of $1,338.30. On Friday, gold tumbled $10.50.

On the currency front, the U.S. dollar is trading at 108.25 yen compared to the 107.66 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.2235 compared to last Friday's $1.2288.


Read the original article on RTTNews (http://www.rttnews.com/2884737/stocks-may-move-back-to-the-upside-in-early-trading-u-s-commentary.aspx)


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This article appears in: Stocks , Politics
Referenced Symbols: BA ,


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