Wall Street Sees Red

wallstreet aug22 02feb23 lt

Earnings might be the highlight on Monday. Early cues from the U.S. Futures Index suggest that Wall Street might open lower.

The economic calendar this week will be relatively quiet.

Asian shares finished lower, while European shares are trading on a negative tone.

As of 7.10 am ET, the Dow futures were declining 192.00 points, the S&P 500 futures were sliding 31.00 points and the Nasdaq 100 futures were down 120.00 points.

The U.S. major averages finished lower on Friday. The Nasdaq tumbled 193.86 points or 1.6 percent to 12,006.95. The S&P 500 also slumped 43.28 points or 1.0 percent to 4,136.48, pulling back off its best closing level in over five months.

On the economic front, Investor Movement Index for January will be published at 12.30 pm ET. In the prior month, the Index was up 4.17.

Six-month Treasury Bill Auction will be held at 11.30 am ET.

Asian stocks fell broadly on Monday. Chinese and Hong Kong stocks finished lower.

The benchmark Shanghai Composite index dropped 0.76 percent to 3,238.70 while Hong Kong's Hang Seng index plunged 2.02 percent to close at 21,222.16.

Japanese shares rose on Monday. The Nikkei average climbed 0.67 percent to 27,693.65 while the broader Topix index added 0.45 percent to close at 1,979.22. Mobility supplier Denso Corp rallied 3.1 percent after unveiling its third-quarter financial results.

Australian markets fell modestly. The benchmark S&P/ASX 200 slipped 0.25 percent to 7,539 and the broader All Ordinaries index ended 0.33 percent lower at 7,745.90.

European shares are trading lower. CAC 40 of France is down 100.38 points or 1.39 percent. DAX of Germany is declining 156.70 points or 1.01 percent. FTSE 100 of England is down 56.60 points or 0.72 percent. The Swiss Market Index is sliding 72.30 points or 0.64 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.35 percent.

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