The fear of the Russian invasion of Ukraine is likely to impact the stock movements on Monday. The global oil future prices aggravated in view of the geopolitical tensions.
Producer prices, retail sales, and industrial production as well as the minutes of the latest Federal Reserve meeting might get special attention this week. Retail giant Walmart (WMT) has scheduled to report quarterly results this week.
Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
As of 7.10 am ET, the Dow futures were declining 272.00 points, the S&P 500 futures were declining 41.25 points and the Nasdaq 100 futures were losing 170.75 points.
The U.S. major averages all finished lower on Friday. The Nasdaq plummeted 394.49 points or 2.8 percent to 13,791.15, the Dow slumped 503.53 points or 1.4 percent to 34,738.06 and the S&P 500 tumbled 85.44 points or 1.9 percent to 4,418.64.
On the economic front, a Six-month Treasury bill auction will be held at 11.30 am ET. The 3-month treasury bill auction will be held at 11.30 am ET.
Asian stocks fell broadly on Monday. China’s Shanghai Composite index fell 34.07 points, or 0.98 percent, to 3,428.88 while Hong Kong’s Hang Seng index ended down 350.09 points, or 1.41 percent, at 24,556.57.
Japanese shares lost the most in three weeks. The Nikkei average plunged 616.49 points, or 2.23 percent, to 27,079.59. The broader Topix index closed 1.63 percent lower at 1,930.65.
Australian markets bucked the weak trend to end slightly higher. The benchmark S&P/ASX 200 index rose 26.60 points, or 0.37 percent, to 7,243.90. The broader All Ordinaries index edged up 19.30 points, or 0.26 percent, to 7,535.10.
European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is sliding 247.43 points or 3.53 percent. The German DAX is losing 507.34 points or 3.29 percent, the U.K. FTSE 100 Index is falling 152.14 points or 1.99 percent.
The Swiss Market Index is lowering 233.06 points or 1.91 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 3.57 percent.
Business News
Wall Street Targets To Open In Negative Territory
2022-02-14 12:35:51
