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U.S. equity futures fell slightly on Monday and oil prices fell after data showed a slowing Chinese economy.
Futures contracts for the S&P 500 fell 0.4%. The broad gauge of large-cap stocks hit their 48th all-time high for 2021 on Friday.
Contracts for the Dow Jones Industrial Average slipped 0.4% on Monday. The blue chip index also finished last week at a record high. Futures for the tech-focused Nasdaq-100 fell 0.3%.
Stocks soared in thin summer trading, supported by an outstanding set of quarterly US corporate earnings reports. However, investors remain cautious about the moderating effect of the Delta variant of Covid-19 on business activity, and potential pitfalls, including geopolitical uncertainty and a possible end of the asset purchase program of the Federal Reserve by mid-2022.
The highly contagious variant took a toll on China’s economic recovery, where data released on Monday showed growth in industrial activity, consumption and investment slowed in July. Investors said the world’s second-largest economy likely continued to falter in August. following the closure of a major port and the introduction of travel restrictions to contain the virus.
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