Wall Street Might Open In Negative Territory

On a lean day of economic announcements, investors might be focusing on geopolitical developments on Monday. Consumer Price Inflation reports might get attention this week.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly lower, while European shares are broadly in a negative trend.

As of 7.40 am ET, the Dow futures were down 38.00 points, the S&P 500 futures were sliding 4.75 points and the Nasdaq 100 futures were declining 12.00 points.

The U.S. major averages closed narrowly mixed on Friday. The Nasdaq dipped 44.80 points or 0.3 percent to 15,996.82, the Dow rose 62.42 points or 0.2 percent to 39,131.53 and the S&P 500 inch up 1.77 points or less than a tenth of a percent to 5,088.80.

On the economic front, the New Home Sales for January will be published at 10.00 am ET. The consensus is for 685K, while it was up 664K in the prior month.

The Dallas Fed Manufacturing Survey report for February will be released at 10.30 am ET. In the prior month, the general activity index was down 27.4 and the production index was down 15.4.

The Two-year Treasury Note auction will be held at 11.30 am ET and the 5-year Treasury Note auction will be held at 1.00 pm ET.

Kansas City Fed President Jeffrey Schmid will speak on the economic and monetary policy outlook before the Economic Club of Oklahoma City at 7.40 pm ET.

Asian stocks ended mostly lower on Monday. Chinese markets fell sharply. The benchmark Shanghai Composite index dropped 0.93 percent to 2,977.02.

Hong Kong’s Hang Seng index ended 0.54 percent lower at 16,634.74 ahead of Chinese manufacturing data due this week.

Japanese markets hit a new high. The Nikkei average rose 0.35 percent to 39,233.71 while the broader Topix index settled 0.49 percent higher at 2,673.62.

Australian markets rose slightly. The benchmark S&P/ASX 200 edged up 0.12 percent to 7,652.80 while the broader All Ordinaries index closed 0.11 percent higher at 7,908.10.

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