Markets

Futures Point To Broadly Lower Open

(RTTNews) - On a quiet day of economic announcements, investors are looking ahead to the earnings reports scheduled this week. Jobless claims report and new and existing home sales reports are expected in the coming days.

The spike in COVID -19 infections is a real concern for markets around the globe. IBM Corp. (IBM), Coca-Cola (KO), Microsoft (MSFT), AT&T (T), Twitter (TWTR), and Intel (INTC) are due to report their quarterly results this week.

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower.

As of 8.15 am ET, the Dow futures were down 44.00 points, the S&P 500 futures were declining 5.00 points and the Nasdaq 100 futures were adding 25.50 points.

The U.S. major indices were broadly higher on Friday. The Dow dipped 62.76 points or 0.2 percent to 26,671.95, the Nasdaq climbed 29.36 points or 0.3 percent to 10,503.19 and the S&P 500 rose 9.16 points or 0.3 percent to 3,224.73.

On the economic front, a six-month Treasury Bill auction will be held at 11.30 am ET.

Asian stocks ended mixed on Monday. Chinese shares rallied as the country's central bank left its key interest rates unchanged for the third consecutive month amid signs of economic recovery. The benchmark Shanghai Composite Index soared 100.02 points, or 3.1 percent, to 3,314.15, although Hong Kong's Hang Seng Index edged down 31.18 points, or 0.1 percent, to 25,057.99.

Japanese shares ended little changed. The Nikkei 225 Index fluctuated before ending marginally higher at 22,717.48. The broader Topix inched up 0.2 percent to 1,577.03. Australian markets fell. The benchmark S&P/ASX 200 Index dropped 32 points, or 0.5 percent, to 6,001.60, while the broader All Ordinaries Index ended down 32.60 points, or 0.5 percent, at 6,112.30.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 5.66 points or 0.11 percent. The German DAX is gaining 68.73 points or 0.53 percent, the U.K. FTSE 100 Index is sliding 27.43 points or 0.44 percent. The Swiss Market Index is adding 39.10 points or 0.38 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.29 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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