Wall Street Might Open In Negative Territory

A global alert is on in view of more than 50 deaths in China after the new wave of COVID-19. The country has introduced new restrictions.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower on Monday.

Asian shares were down on the day, and European shares are trading lower.
Earnings reports might be the focus on Monday. Durable goods orders, new home sales, first-quarter GDP as well as personal income and spending might get special attention.

As of 7.45 am ET, the Dow futures were sliding 211.00 points, the S&P 500 futures were declining 35.00 points and the Nasdaq 100 futures were losing 116.25 points.

The stocks moved steadily lower throughout the trading session on Friday, extending the sharp pullback seen on Thursday. With the steep drop on the day, the major averages slumped to their worst closing levels in over a month.

The U.S. major averages slumped on Friday. The Dow plummeted 981.36 points or 2.8 percent to 33,811.40, the Nasdaq plunged 335.36 points or 2.6 percent to 12,839.29 and the S&P 500 dove 121.88 points or 2.8 percent to 4,271.78.

On the economic front, the Chicago Fed National Activity Index for March will be published at 8.30 am ET. The consensus is for 0.40, while it was up 0.51 in the prior month.

The Dallas Fed Manufacturing Survey reports for April will be released at 10.30 am ET. The consensus is for 10.0, while it was up 8.7 in March.

Six-month Treasury bill auction will be held at 11.30 am ET.

Asian stocks finished lower on Monday. China’s Shanghai Composite index plunged 5.13 percent to 2,928.51.

Hong Kong’s Hang Seng index tumbled 3.73 percent to 19,869.34.

Japanese shares fell lower on Monday. The Nikkei average fell 1.90 percent to 26,590.78 – marking the biggest percentage decline since March 11.

Australia and New Zealand markets were closed for a holiday.

European shares are trading higher. CAC 40 of France is declining 130.80 points or 1.30 percent. DAX of Germany is sliding 183.29 points or 0.89 percent. FTSE 100 of England is down 144.09 points or 1.91 percent. Swiss Market Index is losing 172.55 points or 1.42 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.85 percent.

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