Stocks rising before the bell opens could be in another roller coaster week

NEW YORK – U.S. equity futures point higher open on Monday as investors brace for another roller coaster ride on Wall Street this week after concerns mounted last week over the hedge fund fight and day traders for GameStop, AMC Entertainment and a handful of other stocks.

The S&P 500 fell 1.9% to 3,714.24, giving the benchmark its biggest weekly loss since October. The S&P 500 is still up 13.6% since the end of October.

FUTURES OF STOCK MARKETS FALL DUE TO RETAIL TRADE CONCERNS

The Dow Jones Industrial Average fell 2% to 29,982.62 and the Nasdaq composite fell 2% to 13,070.69.

Investors are also watching negotiations in Washington on the economic aid package proposed by President Joe Biden for $ 1.9 trillion. Aid hopes, along with the Federal Reserve’s pledge to keep the abundance of low-cost credit going, lifted the S&P 500 and other major indices to record highs.

On Friday, the Wall Street S&P 500 benchmark fell 1.9% after GameStop, a provider of video games, and other stocks were skyrocketed by day traders. Investors said hedge funds that bet against these stocks were losing money and selling other stocks.

U.S. equity futures point to a higher open on Monday as investors brace themselves for another roller coaster ride on Wall Street this week after concerns mounted last week over the hedge fund-day fight. traders about GameStop, AMC En

Meanwhile, Asian stock markets rose on Monday after coronavirus vaccine maker AstraZeneca agreed to increase supplies to Europe amid growing concerns over the disease.

Shanghai, Tokyo, Hong Kong and Seoul have made progress.

Markets were shaken by AstraZeneca’s announcement that it would deliver the European Union less than half of the promised doses, prompting the EU to impose export controls. On Sunday, AstraZeneca promised to increase European supplies and start delivery earlier.

“Concerns around the pandemic seemed to be coming back in force as problems with vaccine distribution and efficacy reappeared, even with the spread of the virus gathering momentum,” Mizuho Bank said in a report.

GET FOX BUSINESS ON THE ROAD BY CLICKING HEREOn Sunday, the EU announced that AstraZeneca had agreed to deliver 9 million additional doses of its coronavirus vaccine to Europe.

The new target of 40 million doses at the end of March is half of what the Anglo-Swedish company originally aimed for before announcing a shortfall due to production issues. The EU is behind the US in vaccinating its 450 million people.

The Shanghai Composite Index rose 0.1% to 3,486.46 and the Nikkei 225 in Tokyo rose 1.4% to 28,041.27. The Hang Seng in Hong Kong gained 1.9% to 28,822.61.

Seoul’s Kospi jumped 2.2% to 3,042.19 and Sydney’s S & P-ASX 200 added 0.8% to 6,661.70.

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India Sensex opened down 0.2% to 46,759.42. New Zealand and Singapore declined while Bangkok and Jakarta advanced.

A purchasing managers index published by business magazine Caixin fell to 51.5 from December 53 on a 100-point scale on which numbers above 50 reflect expanding activity. A separate PMI by the official statistics agency showed a similar weakening.

The data suggests that China’s rebound is “leveling off,” Capital Economics’ Julian Evans-Pritchard said in a report.

Investors have pushed stocks higher in hopes that the rollout of coronavirus vaccines would allow global business and travel to return to normal. This optimism has been marred by further spikes in infection and disruptions in vaccine deliveries.

In energy markets, benchmark US crude rose 21 cents to $ 52.41 per barrel on electronic trading on the New York Mercantile Exchange. The contract fell 14 cents on Friday to $ 52.20. Brent, the pricing base for international oils, gained 34 cents to $ 55.38 a barrel in London.

The dollar fell to 104.70 yen from 104.75 yen. The euro edged down to $ 1.2130 from $ 1.2132.