Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly down, while European shares are trading positive.
The U.S. economic calendar for next week is relatively quiet. The weekly Jobless Claims, Service Sector activity and the U.S. Trade Deficit might of interest to investors.
Major corporates such as Caterpillar, McDonald’s, Amgen, Ford, Disney and PepsiCo have scheduled their quarterly earnings this week.
As of 7.35 am ET, the Dow futures were down 39.00 points, the S&P 500 futures were declining 6.00 points and the Nasdaq 100 futures were declining 2.75.
The U.S. major averages remained in positive territory at the close on Friday. The Nasdaq surged 267.31 points or 1.7 percent to 15,628.95, the S&P 500 jumped 52.42 points or 1.1 percent to 4,958.61 and the S&P 500 climbed 134.58 points or 0.4 percent to 38,654.42.
On the economic front, the PMI Composite Final for January will be published at 9.45 am ET. The consensus for the Services Index is 52.9.
The ISM Services Index for January will be issued at 10.00 am ET. The consensus is 52.1, while it was up 50.6.
Atlanta Fed President Raphael Bostic will give welcome remarks before a virtual conference hosted by the Fed Governors and the Federal Reserve Banks of Atlanta, Boston, Cleveland, Philadelphia, San Francisco, and St. Louis at 2.00 pm ET.
Asian stocks ended broadly lower on Monday. Chinese markets led losses, with the benchmark Shanghai Composite ending 1.02 percent lower at 2,702.18.
Hong Kong’s Hang Seng finished down 0.15 percent at 15,510.01.
Japanese markets advanced. The Nikkei average rose 0.54 percent to 36,354.16 while the broader Topix index settled 0.67 percent higher at 2,556.71.
Australian markets fell sharply ahead of an interest rate decision from the Reserve Bank of Australia, due Tuesday. The benchmark S&P ASX 200 fell 0.95 percent to 7,625.90, dragged down by resources stocks. The broader All Ordinaries index closed 0.96 percent lower at 7,855.40.
European shares are trading higher. CAC 40 of France is gaining 6.74 points or 0.09 percent. DAX of Germany is adding 28.84 points or 0.17 percent. FTSE 100 of England is progressing 43.22 points or 0.57 percent. The Swiss Market Index is up 51.55 points or 0.46 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.21 percent.
Business News
Wall Street Poised To Open In Negative Territory
2024-02-05 13:01:37
