Early trends on the U.S. Futures Index suggest that Wall Street might open lower on Monday. Asian shares finished broadly up, while European shares are trading mostly higher.
The Federal Reserve’s monetary policy meeting is likely to be in the spotlight this week.
In the Asian trading hours, gold edged up slightly up. Crude oil prices extended gains. The U.S. dollar hovered close to a five-month low.
As of 8.10 am ET, the Dow futures were down 186.00 points, the S&P 500 futures were declining 18.00 points and the Nasdaq 100 futures were tumbling 30.75 points.
The U.S. major averages reached new highs on Friday’s trading. The Nasdaq soared 451.07 points or 2.6 percent to 17,754.09, the S&P 500 surged 117.42 points or 2.1 percent to 5,638.94 and the Dow jumped 674.62 points or 1.7 percent to 41,488.19.
On the economic front, the Empire State Manufacturing Index for March will be issued at 8.30 am ET. The consensus is for an increase of 0.2, while it was up 5.7 in the prior month.
The Commerce Department’s Business Inventories for January will be released at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was down 0.2 in December.
The Home Builders/Wells Fargo Housing Market Index for March is scheduled at 10.00 am ET. The consensus is 42.0, while it was up 42.0 in February.
The six-month Treasury Bill auction will be held at 11.30 am ET.
Asian stocks advanced on Monday. China’s Shanghai Composite index edged up 0.19 percent to 3,426.13. Hong Kong’s Hang Seng index ended up 0.77 percent at 24,145.57.
Japanese markets rose sharply. The Nikkei average jumped 0.93 percent to 37,396.52 while the broader Topix index settled 1.19 percent higher at 2,748.12.
Australian markets advanced. The benchmark S&P/ASX 200 rose 0.83 percent to 7,854.10 while the broader All Ordinaries index closed up 0.86 percent at 8,082.10.
European shares are trading mostly higher. CAC 40 of France is adding 30.26 points or 0.38 percent. DAX of Germany is up 30.14 points or 0.13 percent. FTSE 100 of England is gaining 16.26 points or 0.19 percent. The Swiss Market Index is progressing 88.25 points or 0.68 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.26 percent.
Business News
Wall Street Poised To Open In Negative Zone
2025-03-17 12:34:02
