July 17, 2024

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Wall Street Poised To Open Lower

2 min read

Geo-political developments are of interest to investors on Monday, especially given the extension of ground operations to the whole of Gaza.

The Labor Department’s closely watched monthly jobs report, job openings, and consumer sentiment reports are of interest this week.

Early trends on the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares finished mixed, while European shares are trending mostly up.

As of 7.10 am ET, the Dow futures were down 95.00 points, the S&P 500 futures were declining 18.50 points and the Nasdaq 100 futures were sliding 88.00 points.

The U.S. major averages finished higher on Friday. The Dow and the S&P 500 reached their best closing levels since early 2022, while the tech-heavy Nasdaq ended the day at a four-month closing high.

The Dow jumped 294.61 points or 0.8 percent to 36,245.50, the S&P 500 advanced 26.83 points or 0.6 percent to 4,594.63 and the Nasdaq climbed 78.81 points or 0.6 percent to 14,305.03.

On the economic front, the Factory Orders for October will be released at 10.00 am ET. The consensus is down 2.6 percent, while it was up 2.8 percent in September.

The Investor Movement Index for November will be issued at 12.30 pm ET. In the prior month, the Index was up 5.64.

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

Asia markets closed on a mixed note on Monday. China’s Shanghai Composite Index slipped 0.29 percent to finish at 3,022.91.

The Hang Seng Index of Hong Kong lost 184 points or 1.1 percent to finish trading at 16,646.05.

The Japanese benchmark Nikkei 225 lost 233.71 points or 0.70 percent to end trading at 33,197.80.

Australia’s S&P/ASX200 closed trading at 7,124.70, adding 52 points or 0.73 percent.

European shares are trading mostly higher. CAC 40 of France is gaining 18.48 points or 0.25 percent. DAX of Germany is progressing 195.27 points or 1.20 percent. FTSE 100 of England is declining 26.55 points or 0.35 percent. The Swiss Market Index is up 51.50 points or 0.47 percent.


2023-12-04 07:31:53

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