Wall Street Poised To Open In Negative Territory

Reports on durable goods orders, consumer confidence, new home sales, and personal income and spending report this week might get special attention from investors.
Initial signs from the U.S. Futures Index suggest that Wall Street might open in negative territory.

Asian shares finished lower, while European shares are trading broadly up.

As of 7.45 am ET, the Dow futures were declining 166.00 points, the S&P 500 futures were tumbling 25.25 points and the Nasdaq 100 futures were down 63.25 points.

The U.S. major averages were lower at the close on Friday. The Dow tumbled 486.27 points or 1.6 percent to 29,590.41, the Nasdaq dove 198.88 points or 1.8 percent to 10,867.93 and the S&P 500 plunged 64.76 points or percent to 1.7 percent to 3,693.23.

On the economic front, Boston Federal Reserve Bank President Susan Collins will speak on the strengths and challenges in the national and regional economy.

Cleveland Federal Reserve Bank President Loretta Mester will speak on the economic outlook and monetary policy before the hybrid Massachusetts Institute of Technology Golub Center for Finance and Policy Distinguished Speaker Series.

Asian stocks fell on Monday. China's Shanghai Composite index fell 1.20 percent to 3,051.23. Hong Kong's Hang Seng index hit an 11-year low before recouping some losses to end the session 0.44 percent higher at 17,855.14.

Japanese shares finished lower. The Nikkei average tumbled 2.66 percent to 26,431.55 as traders returned to their desks after a long weekend. The broader Topix index ended 2.71 percent lower at 1,864.28.

Australian markets ended at a three-month low. The benchmark S&P ASX 200 dropped 1.60 percent to 6,469.40 while the broader All Ordinaries index closed 1.79 percent lower at 6,667.50.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT