Wall Street Poised To Open In Negative Territory

Reaction to the inflation data, reports on retail sales and consumer sentiment might get attention this week.

Major corporates such as Citigroup, JPMorgan Chase, Morgan Stanley, and Wells Fargo will be published this week.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished in the negative territory and the European shares are trading broadly lower.

As of 7.40 am ET, the Dow futures were down 36.00 points, the S&P 500 futures were declining 8.25 points and the Nasdaq 100 futures were down 32.25 points.

The U.S. major averages posted steep losses on Friday. The Dow tumbled 630.15 points or 2.1 percent to 29,296.79, the Nasdaq plummeted 420.91 points or 3.8 percent to 10,652.40 and the S&P 500 plunged 104.86 points or 2.8 percent to 3,639.66.

On the economic front, the Investor Movement Index for September will be published at 12.30 pm ET. In the prior month, the Index was 4.82.

Chicago Federal Reserve Bank President Charles Evans will speak in person on current economic conditions or monetary policy before the National Association for Business Economics (NABE) 64th Annual Meeting, Shocks and Aftershocks: Finding Balance in an Unstable World at 12.30 pm ET.

Asian stocks fell on Monday. Japanese and South Korean markets were closed for the holidays.

Chinese shares tumbled. China’s Shanghai Composite index fell 1.66 percent to 2,974.15. Hong Kong’s Hang Seng index dropped 2.95 percent to close at 17,216.66.

Australian markets fell sharply. The benchmark S&P ASX 200 closed 1.40 percent lower at 6,667.80 while the broader All Ordinaries index slipped 1.49 percent to end at 6,872.

European shares are trading mostly lower. CAC 40 of France is down 4.05 points or 0.07 percent. DAX of Germany is adding 82.76 points or 0.67 percent. FTSE 100 of England is declining 16.39 points or 0.23 percent. The Swiss Market Index is sliding 55.78 points or 0.55 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.012 percent.

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