U.S. Stock futures posted a lower start for Wall Street on Monday as global equities rallied late last week following a multi-session flop that left major indexes on their worst weekends since March.
Investors We also awaited retail sales and profits from financials such as the Bank of America.
Need to Know: Do not exclude $ 400 of oil if US Sanctions Saudi Arabia
How are the major benchmarks trading?
Dow Jones Industrial Average Futures
fell 20.65 points or 0.8% to 2,747.75. Nasdaq-100
dropped 78 points or 1% to 7,094.50
On Friday, the
DJIA, + 1.15%
Dow Jones Industrial Average
DJIA, + 1.15%
finished the day at 287.16 points or 1.2% at 25.339,99 in the whip-hoon trade. The S & P 500
SPX, + 1.42%
surged 1.4% to 2,767.13, grabbing a six-day losing streak that marked the longest such series since a nine-day decline in November 2016. The Nasdaq Composite Index
COMP, + 2.29%
rose 2.3%, in its best daily performance since March 26.
But for the week, the Dow fell 4.2%, the S & P lost 4.1% and the Nasdaq fell 3.7%, the worst weekly performance since March.
Read: So much damage was done to the stock market during a powerful curse
What drives the market?
Investors continued to be scared after last week's two-week sell-off on its market wiped 1,400 points from the Dow, pushing the Nasdaq toward the correction area. Losses were associated with nervousness through a sudden rise in interest rates, such as the 10-year US Treasury yield
reached a seven-year high over 3.25% last week. This yield was 3.15% on Monday.
Higher returns increase corporate borrowing costs and lure investors away from perceived riskier assets such as equities. Yields are reversed to the price.
Next week's earnings season for the third quarter will be seen as the main driver for the shares, namely Goldman Sachs Group Inc.
GS, + 0.42%
among the major bank names, while streaming video group Netflix Inc.
NFLX, + 5.75%
will also be a highlight.
Netflix Revenues: Was the rape in the second quarter of the streaming giant really just a blip?
Geopolitical tensions have been another concern for investors, starting with Saudi Arabia, which is trapped in a growing diplomatic dispute with the US. On Sunday, President Donald Trump threatened "severe punishment" for the Saudis, when a connection between the kingdom and a missing dissident journalist. This country reacted with an immediate threat of retaliation, triggering a rally in oil prices, although profits have since declined.
Saudi backlash: Major General, JP Morgan is the last to leave the conference in Riyadh, but Mnuchin plans to attend
Need to know: Close $ 400 oil does not matter if USA sanctions Saudi Arabia
Trump made these comments in a "60 Minutes" interview, in which he also said the US could drop a third round of tariffs against China, which, like him said, did not have enough ammunition to take revenge.
And concerns over a Brexit that failed to reach agreement have reappeared after the United Kingdom and the European Union failed to reach a compromise on the Irish border issue. Both sides hoped that an agreement on a resignation agreement in the run-up to an EU summit starting on Wednesday will be largely completed.
Need to know: Do not exclude $ 400 of oil if US Saudi Arabia sanctions
What dates are from the tap?
Retail sales for September at 8:30 am Eastern Time, along with the October Empire State Index, which specifies the manufacturing conditions in the New York area.
What do analysts say?
Investors need two things to buy the dips on the stock market, Hussein Sayed, chief market strategist at FXTM, said in a statement to clients.
"One of the most important is that corporate earnings remain robust, surpassing 20% earnings growth forecast for the third quarter, while the outlook for the coming quarters looks bright, with two, the US and China having to close a deal Sayed, "If these two criteria are not met, inventories could peak in as early as 2018."
What Inventories Are in Focus?
Bank of America Corp.
and Charles Schwab Corp.
SCHW, + 1.83%
will report the results before opening on Monday.
How are other markets traded?
19659005] Shares in Asia were lower as they did not pick up the US dollar on Friday, led by a 1.9% decline in the Nikkei 225 Index
The major European indices were consistently weaker.
Crude oil prices remained tight between US and Saudi Arabia and gold
GCZ8, + 1.09%
climbed nearly 1%. The US Dollar Index
Providing critical information for the US trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.