Wall Street Sees Red At Opening


(RTTNews.com) - There are no major economic announcement on Monday, reflecting the government shutdown.

The vote on Brexit will be held on Tuesday. U.K. Prime Minister May has said if the deal is rejected at the Parliament there could be a "catastrophic storm."

Investors are closely monitoring the unexpected fall in Chinese exports and imports and a probable slowdown.

Asian shares finished broadly down, while European shares are trading in the red.

As of 7.45 am ET, the Dow futures were losing 170.00 points, the S&P 500 futures were down 18.75 points and the Nasdaq 100 futures were declining 63.50 points.

The U.S. stocks ended slightly lower on Friday. The Nasdaq fell 14.59 points or 0.2 percent to 6,971.48, the Dow and the S&P 500 both edged down by less than a tenth of a percent. The Dow dipped 5.97 points to 23,995.95 and the S&P 500 slipped 0.38 points to 2,596.26.

On the economic front, six-month bill auction will be held at 11.30 am ET. 

Asian stocks fell broadly on Monday. China's Shanghai Composite index dropped 18.07 points or 0.71 percent to 2,535.77 as the latest trade data indicated a further slowdown in the world's second-largest economy. Hong Kong's Hang Seng index fell as much as 368.94 points or 1.38 percent to 26,298.33.

China's exports unexpectedly fell 4.4 percent from a year earlier in the month - the biggest monthly drop in two years, while imports also fell 7.6 percent, marking the biggest decline since July 2016.

The Japanese market was closed for the 'Coming of Age Day' holiday.

Australian markets gave up early gains to end on a flat note. Both the S&P/ASX 200 index and the broader All Ordinaries index finished marginally lower at 5,773.40 and 5,833.20, respectively.

European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is declining 35.17 points or 0.74 percent, the German DAX is down 69.53 points or 0.64 percent, the U.K.FTSE 100 Index is falling 62.29 points or 0.90 percent. The Swiss Market Index is losing 87.16 points or 0.98 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.79 percent.


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