Wall Street Poised To Open In Negative Territory

The monthly Jobs report, Consumer Confidence, Personal Income, and Spending as well as Manufacturing Activity reports might be of special attention this week.

Fed Chair Jerome Powell’s speech and the Fed’s Beige Book also will be closely watched by investors.

Geopolitical developments are getting attention. The mass protests across China, requesting to lift COVID – 19 restrictions, are swelling day by day. Authorities started to take strong action against the protesters.

Early trends on the U.S. Futures Index suggest that Wall Street might open lower.
Asian shares finished mostly down, while European shares are trading on the negative zone.

As of 7.00 am ET, the Dow futures were down 178.00 points, the S&P 500 futures were declining 29.00 points and the Nasdaq 100 futures were sliding 85.50 points.

The U.S. major averages eventually finished the shortened session mixed on Friday.

The Dow climbed 152.97 points or 0.5 percent to 34,347.03, the S&P 500 edged down 1.14 points or less than a tenth of a percent to 4,026.12 and the Nasdaq slid 58.36 points or 0.5 percent to 11,226.36.

On the economic front, Dallas Fed Manufacturing Survey for November will be published at 10.30 am ET. The consensus is a decline of 20.5, while it was down 19.4 in the prior year. Production Index in the previous month was up 6.0.

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

New York Federal Reserve Bank President John Williams will participate in a virtual conversation organized by the Economic Club of New York at 12.00 pm ET.

Asian stocks plunged on Monday. China’s Shanghai Composite Index dropped 23 points or 0.75 percent to finish at 3,078.55.

The Japanese benchmark Nikkei 225 lost 120 points or 0.42 percent to end trading at 28,162.83.

The Hang Seng Index of the Hong Kong Stock Exchange lost 276 points or 1.6 percent from the previous close to finish trading at 17,297.94. The day’s trading range was between a high of 17,364.21 and a low of 16,833.68.

Australia’s S&P/ASX200 closed trading at 7,229.10 after shedding 30 points or 0.42 percent. The day’s trading was between 7,216.00 and 7,259.50.

European shares are trading mostly lower. CAC 40 of France is down 60.77 points or 0.89 percent. DAX of Germany is declining 128.74 points or 0.88 percent. FTSE 100 of England is sliding 28.32 points or 0.38 percent. The Swiss Market Index is losing 20.42 points or 0.18 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.78 percent.

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