Futures Point To Lower Open For Wall Street

Initial cues from the U.S. Futures Index suggest that Wall Street might open in negative territory. On a lean day of economic announcements, the U.S. Treasury’s monthly account statement for December might get attention.

Geopolitical developments and the upcoming inauguration of the new President are keenly observed by investors. The Los Angeles wildfire is expected to be at a critical stage as winds are returning.

Asian shares finished mostly lower, while European shares are trading down.

As of 7.50 am ET, the Dow futures were down 36.00 points, the S&P 500 futures were declining 33.00 points and the Nasdaq 100 futures were falling 177.75 points.

The U.S. major averages all closed sharply lower on Friday. The Dow settled with loss of 696.75 points or 1.63 percent, at 41,938.45. The S&P 500 closed down 91.21 points or 1.54 percent, at 5,827.04, while the Nasdaq ended lower by 317.25 points or 1.63 percent, at 19,161.62.

On the economic front, the three-month and six-month Treasury Bill auction will be held at 11.30 am ET.

The U.S. Treasury’s monthly account statement for December will be released at 2.00 pm ET. In the prior month, the deficit was $366.8 billion.

Asian markets were down significantly on Monday. China’s Shanghai Composite Index edged down 0.27 percent to finish trading at 3,159.84. The Hang Seng Index of the Hong Kong Stock Exchange also dropped 190 points or 1 percent from the previous close to finish trading at 18,874.14.

Australia’s S&P/ASX200 closed trading at 8,191.90, dropping 102 points or 1.2 percent from the previous close of 8,294.10.

European shares are trading lower. CAC 40 of France is down 39.36 points or 0.53 percent. DAX of Germany is declining 69.05 points or 0.34 percent. FTSE 100 of England is sliding 32.40 points or 0.39 percent. The Swiss Market Index is falling 98.41 points or 0.83 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.59 percent.

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