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Wall Street Set To Open On Negative Note

wallstreet aug22 11oct21 lt

On a very lean day of economic announcements, investors might be looking ahead to this week's earnings reports.

Financial giants, JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Morgan Stanley (MS), Wells Fargo (WFC), and Goldman Sachs (GS) are among the companies due to report their quarterly results this week.

Reports on consumer and producer prices, retail sales, and import and exports as well as the minutes of the latest Fed meeting might get special attention.

Asian shares finished mixed, while European shares are trading mostly lower.

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

As of 7.45 am ET, the Dow futures were down 73.00 points, the S&P 500 futures were declining 17.25 points and the Nasdaq 100 futures were down 101.00 points.

The U.S. major averages finished Friday in negative territory, with the Nasdaq underperforming its counterparts. The Nasdaq fell 74.49 points or 0.5 percent to 14,579.54, the Dow edged down 8.69 points or less than a tenth of a percent to 34,746.25 and the S&P 500 dipped 8.42 points or 0.2 percent to 4,391.34.

On the economic front, Chicago Federal Reserve Bank President Charles Evans will give introductory remarks before the 2021 Lawrence R. Klein Award ceremony at 6.00 pm ET.

Asian stocks ended Monday's session on a mixed note. Chinese shares ended marginally lower. Hong Kong's Hang Seng Index jumped 487.24 points, or 2 percent, to 25,325.09.

Japanese shares rose for the third day. The Nikkei 225 Index surged 449.26 points, or 1.6 percent, to 28,498.20, while the broader Topix ended 1.8 percent higher at 1,996.58.

Australian markets ended slightly lower. The benchmark S&P/ASX 200 Index ended down 20.30 points, or 0.3 percent, at 7,299.80. The broader All Ordinaries Index slipped 16.20 points, or 0.2 percent, to settle at 7,601.10.

European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 21.51 points or 0.33 percent. The German DAX is losing 64.85 points or 0.36 percent, the U.K. FTSE 100 Index is gaining 18.57 points or 0.26 percent.

The Swiss Market Index is sliding 42.29 points or 0.36 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.49 percent.

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