US stocks are trading lower ahead of the bell opening on Monday
U.S. Equity Futures traded lower ahead of Monday’s session after mostly posting gains on Friday as the Labor Department released a better-than-expected employment report as employers added a net 943,000 jobs.
Wall Street finished at a new high on Friday after a government report showed the United States in July was stronger than expected.
Investors were encouraged by rising corporate profits in the United States and the global spread of coronavirus vaccinations. But the spread of the delta variant has prompted some governments to reimpose controls on business and travel.
AMC, DISNEY EARNINGS, JOB OFFERS, INFLATION DATA TOP COMING WEEK
On Friday, Wall Street’s benchmark S&P 500 rose 0.2% to 4,436.52 after the Labor Department said employees added 943,000 workers in July, well above expectations, and that wages had increased. The index finished up 0.9% for the week.
Economists said the report would give the Federal Reserve yet another reason to cut back on bond purchases that pump money into the financial system.
The Dow Jones Industrial Average gained 0.4% to 35,208.51. The Nasdaq fell 0.4% to 14,835.76.
Meanwhile, Asian stock markets followed Wall Street higher on Monday after improving hiring in the United States and tightening anti-virus checks on China and Australia that threaten to weigh on economic recovery. .
Shanghai, Hong Kong and Sydney advanced. South Korea declined. Japanese markets were closed for a public holiday.
China has canceled airline flights as it tries to stop a wave of epidemics. Australia’s two most populous states have told the public to stay home except to go to work or for a handful of other reasons.
“The right question for everyone, including participants in financial markets, is when the lockdowns will occur in other economies,” Carl B. Weinberg of High Frequency Economics said in a report. “It’s central bankers’ worst nightmare coming true.”
THE PRICES OF CAR PARTS ON THE RISE
The Shanghai Composite Index gained 1.1% to 3,496.60 after Chinese exports rose 18.9% in July from a year earlier. The country’s global trade surplus was $ 56.6 billion.
Hong Kong’s Hang Seng gained 0.8% to 26,386.21. The Kospi in Seoul fell 0.3% to 3,261.57 and the S & P-ASX 200 in Sydney gained 0.1% to 7,546.90.
Indian Sensex opened 0.3% to 54,439.58. New Zealand and Jakarta fell while Bangkok gained.
China has cut most access to a city of 1.5 million people, canceled airline flights and told the public to avoid travel if possible after a series of cases linked to travelers from across the country -sea infected with the delta variant.
Australia’s central bank governor Philip Lowe on Friday warned the economy is expected to contract in the quarter ending September after health emergencies were declared in New South Wales, where the population is located populated by Sydney, and Victoria, with Melbourne and big business.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In energy markets, benchmark US crude fell $ 1.49 per barrel to $ 66.79 in electronic trading on the New York Mercantile Exchange. The contract fell 81 cents on Friday to $ 68.28. Brent crude, the standard for international oil prices, fell $ 1.50 to $ 69.20 a barrel in London. It fell 59 cents the previous session to $ 70.62.
The dollar edged down to 110.21 yen from 110.23 on Friday. The euro gained $ 1.1762 against $ 1.1758.