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U.S. Equity Futures are trading lower ahead of Monday’s trading session on Wall Street.
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$ 34,870.16
+448.23 (+1.30%)
$ 14701.918932
+142.13 (+ 0.98%)
On Friday, the S&P 500 Index rose 1.1% to a record 4,369.55, rebounding from the previous day’s loss.
About 90% of the S&P 500 stocks closed higher. Banks, tech companies and industrials have fueled much of the recovery.
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The Dow Jones Industrial Average gained 1.3% to a record high 34,870.1. The Nasdaq composite added 1% to 14,701.92.
Investors have oscillated between optimism about the economic recovery and unease over the spread of the highly contagious delta variant.
US equity futures are trading lower ahead of Monday’s trading session on Wall Street. (Courtney Crow / New York Stock Exchange via AP)
Over the weekend, European Central Bank President Christine Lagarde asked investors to prepare for new monetary policy directions after the bank meeting on July 22. But she gave no indication whether the bank would start cutting stimulus.
The Federal Reserve rocked investors earlier by postponing the possible start of interest rate hikes until the end of 2023 from the following year. He said members of his board have started discussing when and how to cut back on bond purchases that pump money into capital markets.
This week, US banks are due to release their results as large corporations begin reporting quarterly results. Analysts expect another strong quarter for Wall Street, due to the improving economy and fewer Americans in default.
Meanwhile, Asian stock markets rose on Monday after Wall Street peaked despite nervousness over the spread of the delta variant of the coronavirus, as investors eagerly awaited reports on US earnings.
The market references in Shanghai, Tokyo, Hong Kong and Sydney increased.
On Friday, Wall Street’s benchmark S&P 500 ended up 0.4% for the week.
“Wall Street has ignored concerns about the ‘delta variant’,” Mizuho Bank said in a report. “The future suggests that optimism will trickle down to the Asian equity trading session.”
The Shanghai Composite Index rose 0.8% to 3,549.80 after China’s central bank on Friday reduced the level of reserves commercial banks must hold, freeing up money for loans. It came after forecasters saw signs that China’s economic rebound may weaken.
The Nikkei 225 in Tokyo jumped 2.2% to 28,554.56 and the Hang Seng in Hong Kong gained 0.6% to 27,495.07.
The Kospi in Seoul rose 1% to 3,249.36 and the S & P-ASX 200 in Sydney rose 0.7% to 7,326.10.
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Indian Sensex opened 0.6% to 52,674.18. The New Zealand and Southeast Asian markets also advanced.
Benchmark US crude fell 18 cents to $ 74.38 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose from $ 1.62 on Friday to $ 74.56. Brent crude, used for the price of international oils, fell 21 cents to $ 75.34. It advanced $ 1.43 the previous session to $ 75.55.
The dollar was stable at 110.17 yen. The euro fell to $ 1.1870 from $ 1.1875.
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