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Futures Point To Lower Opening For Wall Street


Existing Home Sales for March and CFNAI are the major economic announcements on Monday.

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

Earnings will be the highlight this week. Electric car company Tesla is expected to announce its earnings report today.

As of 7.35 am ET, the Dow futures were losing 56.00 points, the S&P 500 futures were down 7.00 points and the Nasdaq 100 futures were declining 23.50 points.

U.S. major averages were all in positive territory on Friday, although the Nasdaq inched up just 1.98 points or less than a tenth of a percent to 7,998.06. The Dow climbed 110.00 points or 0.4 percent to a six-month closing high of 26,559.54 and the S&P 500 rose 4.58 points or 0.2 percent to 2,905.03.

On the economic front, the Chicago Fed National Activity Index or CFNAI for March will be published at 8.30 am ET. In the prior month, the level was down 0.29.

Existing Home Sales for March will be issued at 10.00 am ET. The consensus is for 5.300 million, down from 5.510 million in the previous month.

Asian markets ended lower on Monday. The Shanghai Composite Index ended down 55.75 points or 1.7%.

The Nikkei 225 of the Japanese market ended up 0.14%.

The markets in Australia, New Zealand and Hong Kong remained closed for the Easter Monday holiday.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 17.29 points or 0.31 percent. The German DAX is climbing 69.30 points or 0.57 percent, the U.K. FTSE 100 Index is declining 11.44 points or 0.15 percent. The Swiss Market Index is down 25.38 points or 0.26 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.63 percent.

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