Futures Suggests Wall Street To Open In Negative Territory

The Commerce Department’s Factory Orders for January, and the Investor Movement Index or IMX for February will be the major focus on Monday.

The congressional testimony by Federal Reserve Chair Jerome Powell and the monthly jobs report might get special attention this week.

Asian shares finished mostly higher, while European shares are mostly down.

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

As of 7.05 am ET, the Dow futures were down 42.00 points, the S&P 500 futures were declining 2.75 points and the Nasdaq 100 futures were sliding 0.25 points.

The U.S. major averages finished Friday’s session higher. The Dow jumped 387.40 points or 1.2 percent to 33,390.97, the Nasdaq soared 226.02 points or 2.0 percent to 11,689.01 and the S&P 500 surged 64.29 points or 1.6 percent to 4,045.64.

For the week, the tech-heavy Nasdaq spiked by 2.6 percent, while S&P 500 and the Dow shot up by 1.9 percent and 1.8 percent, respectively.

On the economic front, the Commerce Department’s Factory Orders for January will be published at 10.00 am ET. The consensus is for a decline of 1.8 percent, while it was up 1.8 percent in December.

The Investor Movement Index or IMX for February will be released at 12.30 am PM ET. In the prior month, the Index was up 4.31.

The six-month Treasury bills auction will be held at 11.30 am ET.

Asian stocks rose broadly on Monday. Chinese stocks ended a tad lower.

China’s Shanghai Composite index slipped 0.19 percent to 3,322.03 while Hong Kong’s Hang Seng index recovered from an early slide to close 0.17 percent higher at 20,603.19.

Japanese shares posted strong gains. The Nikkei average jumped 1.11 percent to 28,237.78 ahead of the BOJ’s policy decision due on Friday. The broader Topix index closed 0.84 percent higher at 2,036.49.

Australian markets began the week on a positive note. The benchmark S&P/ASX 200 rose 0.62 percent to 7,328.60 while the broader All Ordinaries index ended 0.56 percent higher at 7,525.70.

European shares are trading mostly lower. CAC 40 of France is adding 3.17 points or 0.04 percent. DAX of Germany is progressing 11.55 points or 0.07 percent. FTSE 100 of England is declining 43.62 points or 0.55 percent. The Swiss Market Index is down 44.53 points or 0.40 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.11 percent.

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