Wall Street Might Open Lower

Early signs from the U.S. Futures Index suggest that Wall Street might open lower on Monday.

Consumer, and Producer prices as well as Inflation data will be of interest to investors this week.

Networking major Cisco (CSCO), retail giants Walmart (WMT), Home Depot (HD) and Target (TGT) have scheduled their quarterly results this week.

U.S. President Joe Biden and his Chinese counterpart Xi Jinping will be meeting in San Francisco this week.

As of 6.35 am ET, the Dow futures were declining 25.00 points, the S&P 500 futures were down 10.25 points and the Nasdaq 100 futures were sliding 46.50 points.

The U.S. major averages ended Friday’s session near their best levels of the day. The Nasdaq soared 276.66 points or 2.1 percent to 13,798.11, the S&P 500 spiked 67.89 points or 1.6 percent to 4,415.24 and the Dow jumped 391.16 points or 1.2 percent to 34,283.10.

On the economic front, the Treasury Statement for October will be issued at 2.00 pm ET. The consensus is for a deficit of $49.8 billion, while the deficit in the prior month was $170.9 billion.

The six-month Treasury bills auction will be held at 11.30 am ET. Three-month Treasury Bill Auction will be held at 11.30 am ET.

Asian stocks turned in a mixed performance on Monday.

China’s Shanghai Composite index rose 0.25 percent to 3,046.53. Hong Kong’s Hang Seng index gained 1.30 percent close at 17,426.21.

Japanese shares gave up early gains to end on a flat note. The Nikkei average finished marginally higher at 32,585.11. The broader Topix index settled with a negative bias at 2,336.62.

Australian markets closed lower. The benchmark S&P/ASX 200 dropped 0.40 percent to 6,948.80. The broader All Ordinaries index settled 0.44 percent lower at 7,145.

European shares are trading mostly higher. CAC 40 of France is down 35.73 points or 0.50 percent. DAX of Germany is adding 45.32 points or 0.30 percent. FTSE 100 of England is progressing 41.94 points or 0.57 percent. The Swiss Market Index is up 27.90 points or 0.26 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.55 percent.

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