Wall Street Aims To Open Lower
(RTTNews) - Monday's major highlights will be economic announcements such as New Home Sales, Durable Goods Orders, Consumer Confidence, Pending Home Sales, and Personal Income and Spending.
Caterpillar (CAT), Merck (MRK), Pfizer (PFE), Microsoft (MSFT), Boeing (BA), General Electric (GE), Ford (F), Alphabet (GOOGL), Amazon (AMZN), Facebook (FB), and Exxon Mobil (XOM) have scheduled to report their quarterly results this week.
Asian shares finished mostly lower, while European shares are trading broadly down. Initial signs from the U.S. Futures Index suggest that Wall Street might open higher. The coronavirus pandemic continues to be a major threat for all economies and the daily tally of coronavirus cases in the United States has topped 80,000 for the second straight day.
As of 8.05 am ET, the Dow futures were losing 290.00 points, the S&P 500 futures were down 33.75 points and the Nasdaq 100 futures were sliding 92.00 points.
The U.S. major indices finished broadly higher on Friday. The Dow posted a modest loss on the day, edging down 28.09 points or 0.1 percent to 28,335.57, while the broader Nasdaq and S&P 500 added to Thursday's gains. The Nasdaq climbed 42.28 points or 0.4 percent to 11,548.28 and the S&P 500 rose 11.90 points or 0.3 percent to 3,465.39.
On the economic front, the Federal Reserve Bank of Chicago's Fed National Activity Index for September will be published at 8.30 am ET. The consensus is for 0.39, down from 0.79 in the prior month.
Commerce and Housing and Urban Development department's New Home Sales for September will be released at 10.00 am ET. The consensus is for 1016K, while it was 1011K in the prior month.
Dallas Fed Manufacturing Survey for October will be issued at 10.30 am ET. In the prior month, the General Activity Index was up 13.6 and Production Index was up 22.3. Six-month Treasury Bill Auction will be held at 11.30 am ET.
Asian stocks ended mostly lower on Monday. Chinese shares fell. The benchmark Shanghai Composite index ended down 26.88 points, or 0.82 percent, at 3,251.12. Japanese shares ended little changed. The Nikkei average ended marginally lower at 23,494.34, while the broader Topix index closed 0.39 percent lower at 1,618.98.
Australian shares ended slightly lower. The benchmark S&P/ASX 200 slid 11.40 points, or 0.18 percent, to 6,155.60, while the broader All Ordinaries index ended down 16.40 points, or 0.26 percent, at 6,357.30.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is progressing 58.26 points or 1.20 percent. The German DAX is losing 309.53 points or 2.45 percent, the U.K. FTSE 100 Index is sliding 13.72 points or 0.24 percent.
The Swiss Market Index is declining 12.73 points or 0.13 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.79 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.