Wall Street Set To Open In The Red

The strain on the coronavirus pandemic eased in the U.S. as the total death toll came up to around 81,000. The number of infections climbed to around 13,70,000. However, investors are still really concerned about the revival of the economy.

Initial signs from the U.S. Futures Index suggest that Wall Street Might open lower on Monday. Asian shares finished mostly higher, while European shares are trading lower.

Reports on consumer and producer price inflation, retail sales and initial jobless claims might attract attention this week.

As of 8.10 am ET, the Dow futures were declining 224.00 points, the S&P 500 futures were sliding 29.50 points and the Nasdaq 100 futures were down 70.00 points.

The U.S. major averages ended Friday’s session higher. The Dow jumped 455.43 points or 1.9 percent to 24,331.32, the Nasdaq surged up by 141.66 points or 1.6 percent to 9,121.32, and the S&P 500 shot up by 48.61 points or 1.7 percent to 2,929.80.

On the economic front, Chicago Federal Reserve Bank President Charles Evans will speak in a Lansing Regional Chamber Virtual Presentation, with the audience at 12.30 pm ET.

Three year Treasury Note auction will be held at 1.00 pm ET. Six-month Treasury Bill auction will be held at 11.30 am ET.

Asian stocks ended broadly higher on Monday. Chinese shares ended little changed despite signs of support measures from China’s central bank.

China’s Shanghai Composite index ended marginally lower at 2,894.80 while Hong Kong’s Hang Seng index climbed 1.53 percent to 24,602.06.

Japanese shares hit a two-month high. The Nikkei average rallied 211.57 points, or 1.05 percent, to 20,390.66, the highest level since March 6. The broader Topix index closed 1.53 percent higher at 1,480.62.

Australian markets followed Wall Street higher. The benchmark S&P/ASX 200 climbed 70.10 points, or 1.30 percent, to 5,461.20, while the broader All Ordinaries index ended up 71.10 points, or 1.30 percent, at 5,559.10.

European shares are trading lower. CAC 40 of France is losing 64.49 points or 1.42 percent. DAX of Germany is down 116.42 points or 1.06 percent. FTSE 100 of England is declining 16.14 points or 0.29 percent. Swiss Market Index is sliding 59.17 points or 0.61 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone is down 1.34 percent.

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