On a lean day of economic announcements, investors might be looking for cues from geopolitical developments. Jo Biden’s permission to Ukraine to fire US made long-range missiles inside Russia and its impacts might be influencing investor sentiments. This major policy reversal by an outgoing President will be much discussed.
The market is awaiting new announcements from the President-elect Donald Trump and his new picks to the cabinet.’
Housing starts reports, Existing Home Sales as well as the Weekly Jobless claims might be the focus this week.
In the Asian trading session, gold rose nearly 1 percent.
Asian shares finished mixed, while European shares are trading mostly lower.
As of 7.30 am ET, the Dow futures were declining 76.00 points, the S&P 500 futures were up 3.50 points and the Nasdaq 100 futures were progressing 68.75 points.
The U.S. major averages were firmly negative on Friday’s closing. The tech-heavy Nasdaq led the way lower, plunging 427.53 points or 2.2 percent to 18,680.12.
The S&P 500 also tumbled 78.55 points or 1.3 percent to 5,870.62, while the narrower Dow slid 305.87 points or 0.7 percent to 43,444.99.
On the economic front, the Housing Market Index for November will be issued at 10.00 am ET. The consensus is for an increase of 43, while it was up 43 in the previous month.
Six-month Treasury Bill auction will be held at 11.30 am ET.
The Treasury International Capital for September will be released at 4.00 pm ET. In the prior month, the Net Long Securities Transactions were $111.4 billion.
Asian stocks were mixed at the closing on Monday.
China’s Shanghai Composite index ended 0.21 percent lower at 3,323.85.
Hong Kong’s Hang Seng rose 0.77 percent to 19,576.61.
Japanese markets fell sharply. The Nikkei average dipped 1.09 percent to 38,220.85 while the broader Topix index settled 0.73 percent lower at 2,691.76.
Australian markets ended modestly higher. The benchmark S&P/ASX 200 edged up by 0.18 percent to 8,300.20 while the broader All Ordinaries index rose 0.18 percent to 8,554.40.
European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 14.30 points or 0.20 percent. The German DAX is losing 57.84 points or 0.30 percent, the U.K. FTSE 100 Index is gaining 11.01 points or 0.14 percent.
The Swiss Market Index is declining 16.16 points or 0.14 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.49 percent.
Business News
Wall Street Might Open Broadly Up
2024-11-18 13:01:30
