Wall Street Poised To Open Broadly Down

Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower. Asian shares finished up, while European shares were mixed.

After the court indictment, former U.S. President Donald Trump will appear in court on Tuesday. Trump-related stocks were soaring on Friday and are expected to fluctuate on Monday and Tuesday.

A surge in oil prices is closely watched by investors as Saudi Arabia and other major oil producers are planning to cut production by 1.15 million barrels per day from May until the end of the year.

The monthly Jobs Report might get special attention this week. The markets will be closed for the holy weekend.

Manufacturing and Service Sector activity, the U.S. trade deficit, and private sector employment also will be of interest to investors this week.

As of 7.40 am ET, the Dow futures were up 107.00 points, the S&P 500 futures were declining 5.50 points and the Nasdaq 100 futures were down 96.25 points.

The U.S. major averages closed at new highs on Friday’s session. The Nasdaq surged 208.44 points or 1.7 percent to 12,221.91, the S&P 500 shot up 58.48 points or 1.4 percent to 4,109.31 and the Dow jumped 415.12 points or 1.3 percent at 33,274.15.

On the economic front, IHS Markit’s Purchasing Managers’ Index or PMI Manufacturing Final for March will be published at 9.45 am ET. The consensus is 49.3.
ISM Manufacturing Index for March will be released at 10.00 am ET. The consensus is 47.5, while it was up 47.7 in February.

The Commerce Department’s Construction Spending for February will be issued at 10.00 am ET. The consensus is 0.0 percent, while it was down 0.1 percent in January.
The Investor Movement Index for March will be revealed at 12.30 pm ET. In the prior month, the Index was up 4.57.

Asian stocks turned in a mixed performance on Monday. Chinese shares rose notably. The Hang Seng index finished marginally higher at 20,409.18.

Japanese shares advanced on Monday. The Nikkei average rose 0.52 percent to 28,188.15. The broader Topix index settled 0.71 percent higher at 2,017.68.

Australian markets ended higher. The benchmark S&P/ASX 200 closed 0.63 percent higher at 7,223. The broader All Ordinaries index rose 0.58 percent to 7,416.40.

European shares are trading mostly higher. CAC 40 of France is up 25.63 points or 0.35 percent. DAX of Germany is declining 18.36 points or 0.12 percent. FTSE 100 of England is progressing 47.04 points or 0.62 percent. The Swiss Market Index is declining 47.47 points or 0.43 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 0.094 percent.

Source: Read Full Article