After ending last Friday’s highly volatile session mostly higher, stocks are likely to come under pressure during trading on Monday. The major index futures are currently pointing to a sharply lower open for the markets, with the S&P 500 futures down by 1.5 percent.
Concerns about the impact of President Donald Trump’s tariff policies may continue to weigh on Wall Street amid increasing worries the U.S. is headed for a recession.
In a Fox News interview on Sunday, Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.
“There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America,” Trump told the “Sunday Morning Futures” program.
However, overall trading activity may be somewhat subdued as traders look ahead to the release of some key U.S. economic data in the coming days.
Reports on consumer and producer price inflation are likely to be in focus along with readings on consumer sentiment and inflation expectations.
Stocks saw significant volatility over the course of the trading session on Friday, as the major averages swung back and forth across the unchanged line before eventually closing firmly positive.
The major averages came under pressure after initially showing a lack of direction, with the Nasdaq and the S&P 500 hitting five-month intraday lows before rebounding in afternoon trading.
The major averages held onto their gains going into the close of trading. The Nasdaq advanced 126.97 points or 0.7 percent to 18,196.22, the S&P 500 climbed 31.68 points or 0.6 percent to 5,770.20 and the Dow rose 222.64 points or 0.5 percent to 42,801.72.
Despite ending the day higher, the major averages all posted steep losses for the week. The Nasdaq plunged by 3.5 percent, the S&P 500 tumbled by 3.1 percent and the Dow slumped by 2.4 percent.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. Japan’s Nikkei 225 Index rose by 0.4 percent, while China’s Shanghai Composite Index dipped by 0.2 percent and Hong Kong’s Hang Seng Index dove by 1.9 percent.
Meanwhile, the major European markets have all moved to the downside on the day. While the German DAX Index is down by 1.6 percent, the U.K.’s FTSE 100 Index and the French CAC 40 Index are both down by 0.7 percent.
In commodities trading, crude oil futures are rising $0.50 to $67.54 a barrel after climbing $0.68 to $67.04 barrel last Friday. Meanwhile, after falling $12.50 to $2,914.10 an ounce in the previous session, gold futures are edging down $0.90 to $2,913.20 an ounce.
On the currency front, the U.S. dollar is trading at 146.90 yen versus the 148.04 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0847 compared to last Friday’s $1.0833.
Business News
U.S. Stocks May Move Back To The Downside Amid Recession Worries
2025-03-10 12:54:41
