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Futures Suggest Lower Opening For Wall Street


Initial cues from the U.S. Futures Index point to a lower opening for Wall Street. Investors are still concerned about the future of U.S.-China tariff war. New developments on this front is keenly observed by the market.

Import and exports prices, retail sales, industrial production, and housing starts will be the focus in economic sector this week. Earnings from major corporates such as Walmart, Cisco Systems, Take-Two, Ralph Lauren, Tilray, Alibaba, and Nvidia are scheduled this week.

Asian shares finished mostly down, while European shares are trading in negative territory.

As of 7.50 am ET, the Dow futures were slipping 344 points, the S&P 500 futures were shedding 41.00 points and the Nasdaq 100 futures were down 141.00 points.

The U.S. major averages bounced well off their worst levels on Friday and into positive territory. The Dow climbed 114.01 points or 0.4 percent to 25,942.37, the Nasdaq inched up 6.35 points or 0.1 percent to 7,916.94 and the S&P 500 rose 10.68 points or 0.4 percent to 2,881.40.

On the economic front, Boston Federal Reserve Bank President Eric Rosengren will give opening remarks at the "New England Perspectives on Fed Policymaking" conference at 9.05 am ET. Federal Reserve Board Vice Chairman Richard Clarida will also speak at the conference at 9.10 am ET.

Asian stocks finished broadly down on Monday. China's Shanghai Composite index tumbled 35.50 points or 1.21 percent to 2,903.71. The Hong Kong market was closed for a holiday.

Japanese shares fell notably. The Nikkei average fell 153.64 points or 0.72 percent to 21,191.28, while the broader Topix index dropped 8.28 points or 0.53 percent to 1,541.14.

Australian markets fell slightly. The benchmark S&P/ASX 200 index dropped 13.30 points or 0.21 percent to 6,297.60 while the broader All Ordinaries index ended down 11.80 points or 0.18 percent at 6,381.30.

European shares are trading in the red. CAC 40 of France is declining 30.06 points or 0.56 percent. DAX of Germany is down 93.58 points or 0.78 percent. FTSE 100 of England is slipping 5.59 points or 0.08 percent. Swiss Market Index is dropping 63.67 points or 0.65 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.46 percent.

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