Initial cues on the U.S. Futures Index suggest that Wall Street might open in the negative zone. Global markets continue to react to the new policies, especially the imposition of new tariffs, announced by President Donald Trump.
Asian shares finished lower, while European shares are trading in the negative territory.
The Labor Department’s monthly Jobless Claims report will be issued on Thursday the Employment Situation report will be published on Friday.
Major corporates such as Alphabet (GOOGL), Amazon (AMZN), Pfizer (PFE), and Disney (DIS) are expected this week.
In the Asian trading session, the dollar rallied, while oil prices jumped.
As of 7.45 am ET, the Dow futures were down 655.00 points, the S&P 500 futures were declining 103.50 points and the Nasdaq 100 futures were sliding 414.50 points.
The U.S. major averages finished lower on Friday. The Dow slid 337.47 points or 0.8 percent to 44,544.66, the S&P 500 fell 30.64 points or 0.5 percent to 6,040.53 and the Nasdaq dipped 54.31 points or 0.3 percent to 19,627.44.
On the economic front, the PMI Manufacuturing Final for January will be issued at 9.45 am ET. The consensus is for an increase of 50.1, while it was up 50.1 in the prior month.
The ISM Manufacturing Index for January will be released at 10.00 am ET. The consensus is for an increase of 49.5, while it was up 49.3 in December.
The Construction Spending for December will be published at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was at 0.0 percent in the prior month.
Atlanta Fed President Raphael Bostic will speak on the economic outlook in a moderated conversation hosted by the Rotary Club of Atlanta at 12.30 pm ET.
St. Louis Fed President Alberto Musalem gives welcome remarks before the 2025 Homer Jones Memorial Lecture at 6.30 pm ET.
Asian stocks slumped on Monday. China markets remained closed for the Lunar New Year holiday.
Hong Kong’s Hang Seng index finished marginally lower at 20,217.26.
Japanese markets finished lower. The Nikkei average fell 2.66 percent to 38,520.09 while the broader Topix index settled 2.45 percent lower at 2,720.39.
Australian markets declined. The benchmark S&P/ASX 200 closed 1.79 percent lower at 8,379.40. The broader All Ordinaries index fell 1.84 percent to 8,628.40.
European shares are trading lower. CAC 40 of France is falling 146.78 points or 1.85 percent. DAX of Germany is declining 401.90 points or 1.85 percent. FTSE 100 of England is sliding 123.15 points or 1.42 percent. The Swiss Market Index is lower by 120.06 points or 0.95 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.79 percent.
Business News
Wall Street Sees Red
2025-02-03 13:13:05
