FX.co ★ Wall Street Might Open In Negative Territory

Initial indications from the U.S. Futures Index suggest a potential lower opening for Wall Street on Monday. Asian markets mostly concluded on an upward trend, whereas European equities are experiencing declines. This week, investor focus is expected to turn towards earnings reports. Additionally, recent U.S. economic data could play a significant role in steering market activities.

During the Asian trading session, gold achieved another record high, while oil prices showed recovery.

As of 8:20 AM ET, Dow futures had decreased by 73 points, S&P 500 futures were down by 16 points, and Nasdaq 100 futures saw a decline of 92.25 points.

On Friday, major U.S. indexes closed higher. The Nasdaq climbed by 115.94 points, or 0.6%, reaching 18,489.55. The S&P 500 increased by 23.20 points, or 0.4%, achieving a new record closing high of 5,864.67. Meanwhile, the Dow, after an initial dip, rose by 36.86 points, or 0.1%, to close at 43,275.91.

Looking ahead, the Conference Board will release its Leading Indicators Index for September at 10:00 AM ET, with expectations pointing to a 0.3% decline, following a 0.2% decrease the previous month.

A six-month Treasury bill auction is scheduled for 11:30 AM ET.

San Francisco Fed President Mary Daly will engage in a Q&A session with Nick Timiraos of the Wall Street Journal at the 2024 WSJ Tech Live event, taking place at 6:40 AM ET.

Dallas Fed President Lorie Logan is set to take part in a moderated Q&A session at the 2024 Securities Industry and Financial Markets Association (SIFMA) Annual Meeting at 8:55 AM ET.

Minneapolis Fed President Neel Kashkari will participate in a town hall event organized by the Chippewa Falls Chamber of Commerce at 1:00 PM ET.

Moreover, Kansas City Fed President Jeffrey Schmid will address economic and monetary policy outlooks during a hybrid event hosted by the Chartered Financial Analyst Society in Kansas City at 5:05 PM ET.

On Monday, Asian stocks exhibited a mixed performance. China's Shanghai Composite Index rose by 0.20% to 3,268.11 after a volatile session, while Hong Kong's Hang Seng Index fell by 1.6%, settling at 20,478.46. Japanese markets showed little change, with the Nikkei 225 Index marginally lower at 38,954.60 and the broader Topix Index down by 0.3% at 2,679.91. In Australia, markets advanced, as the benchmark S&P/ASX 200 Index increased by 0.7% to 8,344.40 and the broader All Ordinaries Index closed 0.6% higher at 8,604.10.