Wall Street Trends To Open Broadly Lower

The initial trend on the U.S. Futures Index suggests that Wall Street might open broadly lower.

Asian shares finished mostly up, while European shares are trading mostly down.

As of 7.45 am ET, the Dow futures were down 119.00 points, the S&P 500 futures were declining 6.50 points and the Nasdaq 100 futures were gaining 9.25 points.

The U.S. major averages finished higher on Friday. The tech-heavy Nasdaq jumped 183.02 points or 1.1 percent to 16,274.94 and the S&P 500 climbed 40.81 points or 0.8 percent to 5,137.08. The narrower Dow posted a more modest gain, rising 90.99 points or 0.2 percent to 39,087.38.

On the economic front, the six-month and 3-month Treasury bill auctions will be held at 11.30 am ET, and 3-month Treasury bill auction for the week will be held at 11.30 am ET.

Philadelphia Fed President Patrick Harker will speak on the “Economic Impact of Higher Education” before the 2024 American Council on Education Presidents and Chancellors Summit at 11.00 am ET.

Asian stocks turned in a mixed performance on Monday. China’s Shanghai Composite index rose 0.41 percent to 3,039.31. Hong Kong’s Hang Seng index finished marginally higher at 16,595.

Japanese shares advanced. The Nikkei 225 average rose half a percent to 40,109.23, surpassing the crucial 40,000 level for the first time led by tech stocks. The broader Topix index settled 0.12 percent lower at 2,706.28.

Australian markets edged down slightly. The benchmark S&P/ASX 200 dipped 0.13 percent to 7,735.80 while the broader All Ordinaries index ended down 0.13 percent at 7,996.50.

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