Futures Pointing To Lower Open On Wall Street

[ADVFN]() [[Global Email] World Daily Markets Bulletin]() Monday, 21 September 2020 11:01:32 [Twitter]( [Facebook]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [The Ultra-Wealthy Use this Indicator]( Only ONE thing moves stock prices. The super-rich "get" this (and profit from it). Now finally you can too. You need to see this ASAP. [Click here to read more.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a sharply lower opening on Monday, with stocks likely to extend the downward move seen over the past few sessions. Stocks initially showed a lack of direction but came under pressure over the course of the trading session on Friday. The major averages slid firmly into negative territory, extending the pullback seen over the two previous sessions. The major averages climbed well off their worst levels late in the session but remained firmly negative. The Dow slid 244.56 points or 0.9 percent to 27,657.42, the Nasdaq tumbled 116.99 points or 1.1 percent to 10,793.28 and the S&P 500 slumped 37.54 points or 1.1 percent to 3,319.47. For the week, the Dow edged down by less than a tenth of a percent, while the broader Nasdaq and S&P 500 both fell by 0.6 percent. The weakness that emerged on Wall Street was partly due to a continued slump by technology stocks, with tech giant Apple (AAPL) showing a significant drop. Shares of Apple, which have been a key driver of the markets in most recent sessions, tumbled by 3.2 percent to their lowest closing level in well over a month. Big-name tech companies like Google parent Alphabet (GOOGL), Amazon (AMZN), and Microsoft (MSFT) also posted notable losses. Traders also continued to express renewed concerns about the economic outlook following the Federal Reserve's monetary policy announcement on Wednesday. While the Fed indicated it plans to leave interest rates at near-zero levels for years to come, traders seem skeptical that will be enough to support the economy. With the elections less than two months away, lawmakers currently seem unlikely to pass another stimulus bill to help the economy recover from the coronavirus pandemic. Recent economic data suggests the rebound from the lockdown-induced economic collapse may be plateauing, raising concerns about the possibility of a double-dip. A report released by the Conference Board showed a continued increase by its reading on leading U.S. economic indicators in the month of August, although the pace of growth slowed compared to recent months. The Conference Board said its leading economic index jumped by 1.2 percent in August after surging up by 2.0 percent in July and spiking by 3.1 percent in June. Economists had expected the index to increase by 1.3 percent. Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the slowdown in the pace of improvement "suggests that this summer's economic rebound may be losing steam heading into the final stretch of 2020." Meanwhile, a separate report from the University of Michigan showed a much bigger than expected improvement in consumer sentiment in the month of September. Airline stocks moved sharply lower over the course of the session, dragging the NYSE Arca Airline Index down by 3.2 percent. The index continued to give back ground after reaching a three-month closing high on Wednesday. Substantial weakness was also visible among commercial real estate stocks, as reflected by the 2.1 percent slump by the Dow Jones U.S. Real Estate Index. Interest rate-sensitive commercial real estate stocks extended the steep drop seen in the previous session despite indications the Fed plans to keep rates low for a long time. Oil service stocks also came under pressure as the day progressed, with the Philadelphia Oil Service Index falling by 1.4 percent despite a modest increase by the price of crude oil. Chemical, gold and utilities stocks also saw considerable weakness on the day, moving lower along with most of the other major sectors. --------------------------------------------------------------- [Man Who Predicted 2020 Gold Rally Issues New Call]( Gold expert explains why massive shift happening right now in the financial markets could create biggest opportunity in last 100 years. [Click here to know more.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( Federal Reserve Board Governor Lael Brainard is due to speak about the ?Community Reinvestment Act? via livestream before The Urban Institute in Washington, D.C. at 12 pm ET. At 6 pm ET, New York Federal Reserve President John Williams is scheduled to speak in a moderated discussion on "Examining the Financial Burdens of Inequality and Striving for an Equitable COVID-19 Recovery". Dallas Fed President Robert Kaplan is also due to discuss national and global economic issues with Richard Fisher, chair of the City of Dallas Economic Recovery Task Force and former president of the Dallas Fed, at 6 pm ET. --------------------------------------------------------------- --------------------------------------------------------------- Europe European stocks slumped on Monday to hit two-week lows as surging cases of Covid-19 in Europe prompted renewed lockdown measures in some countries and cast doubt over the economic recovery. A lack of U.S. stimulus as well as rising tensions between Washington and Beijing also weighed on markets. The pan-European Stoxx 600 fell 2.6 percent to 359.33, while the German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were down between 2.9 percent and 3.3 percent. Banks were among the worst hit amid reports that several global banks moved large sums of allegedly illicit funds over nearly two decades. Commerzbank, Deutsche Bank, BNP Paribas, Standard Chartered and Lloyds Banking Group lost 5-7 percent. HSBC Holdings gave up 5.5 percent on reports the Asia-focused lender could be a possible candidate for inclusion in China's 'unreliable entity list'. Travel-related stocks were coming under selling pressure as several countries across Europe announced new coronavirus restrictions in some of their largest cities after recent surges in infections. British-Airways owner IAG plunged 14 percent, easyJet declined 9 percent and Lufthansa shed 8.4 percent. Rolls-Royce Holdings plunged 8.6 percent after the aero-engine maker detailed a plan to raise up to 2.5 billion pounds to strengthen its balance sheet. Informa, the world's largest exhibitions group, tumbled 3.5 percent after posting a half-year loss and cutting its FY revenue outlook. LVMH shares fell 3 percent. The French luxury goods giant said it has submitted its $16.2 billion takeover deal for Tiffany & Co for an EU antitrust review. German telecommunication service provider 1&1 Drillisch plummeted 26 percent after revising its EBITDA forecast for 2020 downwards. Its parent United Internet was down nearly 23 percent. --------------------------------------------------------------- --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks edged lower on Monday in thin trade with Japan's market closed for a holiday. Investors kept a watchful eye on U.S. fiscal stimulus negotiations, Covid-19 vaccine development and escalating tensions between Washington and Beijing. Worries about the global economic recovery and a surge in novel coronavirus cases across Europe also weighed on markets. China's Shanghai Composite index fell 0.63 percent to 3,316.93 as the country's central bank kept its benchmark lending rate for corporate and household loans steady for the fifth straight month. Hong Kong's Hang Seng index fell as much as 2.06 percent to 23,950.69. HSBC Holdings shares tumbled 5.3 percent on reports the Asia-focused lender could be a possible candidate for inclusion in China's 'unreliable entity list'. Seoul shares ended a choppy session lower even as new Covid-19 cases remained below 100 for the second day and data showed the country's exports for the first 20 days of September rose for the first time since March. The benchmark Kospi dipped 0.95 percent to 2,389.39, with bio and chemical stocks pacing the declines. Samsung Biologics gave up 2.4 percent, Celltrion declined 4.5 percent and LG Chem slumped 5.9 percent. Australian markets fell notably, dragged down by financials and miners. The benchmark S&P/ASX 200 slipped 0.71 percent to 5,822.60, while the broader All Ordinaries index ended down 0.73 percent at 6,013.50. BHP and Rio Tinto fell over 1 percent while the big four banks ended down between 1.3 percent and 1.5 percent. Gold miners Evolution Mining, Newcrest and Northern Star Resources fell over 2 percent despite an increase in gold prices on Friday. New Zealand's benchmark NZX-50 index dropped 0.81 percent to 11,539.10 as Prime Minister Jacinda Ardern lifted all coronavirus restrictions across the country, except in Auckland. With a global recession in progress, investors struggled to find a rationale for buying. Travel software provider Serko lost 4.6 percent on the first day of listing. --------------------------------------------------------------- Do you have a full view of the market? Level 2 lets you see all of the orders to buy and sell shares, allowing you to see what is really going on in the market. If you don?t have this in your trading toolkit, you?re at a serious disadvantage. [Learn More / Upgrade]( --------------------------------------------------------------- Commodities Crude oil futures are sliding $0.91 to $40.20 a barrel after inching up $0.14 to $41.11 a barrel last Friday. Meanwhile, after climbing $12.20 to $1,962.10 an ounce in the previous session, gold futures are plunging $35.10 to $1,927 an ounce. On the currency front, the U.S. dollar is trading at 104.21 yen versus the 104.57 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1768 compared to last Friday?s $1.1840. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49