Stock futures fell in a wave of political news ahead of Monday's brief trading session on Monday, as the Dow Jones Industrial Average and other leading benchmarks declined to the worst monthly performance in more than a decade.
Trade It was generally a mild Monday, so the day's market moves less likely to merge into regular trading. Chipmakers declined sharply, with leading the early sale of Advanced Micro Devices (AMD) and Nvidia (NVDA). Financials were hit early after the Treasury apparently reviewed the bank's liquidity status on Sunday. Bank Of America (BAC), JPMorgan (JPM) and Citigroup (C) fell.
FANG stocks were traded lower, with Facebook (FB) and Amazon.com (AMZN) at the heaviest early punches. Drugmaker Perrigo (PRGO) recorded the strongest early move among S & P 500 stocks, rebounding after a sharp decline on Friday.
Futures for the Dow Jones Industrial Average fell 1
The Nasdaq 100 futures lost 0.6%. Nvidia posted the lowest price drop before the market.
The stock and bond markets close at 13:00. ET today and will be reopened on Wednesday after the Christmas holidays on Tuesday.
Stock Futures: Apple, Tesla, Medpace
Dow Jones Stock Apple lost 1.1% on Monday. The shares have fallen in five of the last six sessions and dropped almost 9% in the last week. Apple shares were down 36% from their highs in early October, triggering their gains since September 2017.
Under the IBD 50 shares MedPace Holdings (MEDP) were able to reverse early gains and fell 4.9%. Standard & Poor & # 39; s announced late Friday that the stock would be included in the S & P Smallcap 600 Index on January 2. At the beginning of December, MedPace anticipated a three-month basic effort.
Tesla (TSLA) also returned earlier earlier and fell by 2%. The electric luxury car maker fell nearly 13% last week, so that the Tesla share in a cup with Henkel was more than 8% below a buying point of 366.85. This triggered the automatic sales rule.
Dow Jones: The worst month since October 2008
A closure of some federal offices and functions due to a Senate budget, new information about the sudden resignation of Defense Secretary James Mattis, an unusual statement by the Treasury on Sunday and reports that President Trump investigated the possibility of shooting Fed chairman Jerome Powell in a weird cocktail that markets could digest on Monday's brief holiday sessions.
The industrial average of Dow Jones ended Friday declined 12.1% in December. The S & P 500 fell 12.5% this month and the Nasdaq lost 13.6%. All three benchmarks hit the worst month since October 2008.
Finance Minister Steven Mnuchin spoke on Sunday with senior politicians at six major US banks, including Goldman Sachs and JPMorgan Chase. The calls were apparently designed to conduct a review of the vital signs of the banking system to ensure that last week's stock market selloff did not affect liquidity or other factors in any bank. A statement by the US Treasury states that banks "have not experienced any clearing or margin problems" and "markets continue to function properly."
Chinese stock markets mixed, Europe Slides
China's markets then popped up in early trading, rebounding on Monday to a broadly mixed target. Calls from Chinese regulators to speed up the introduction of 5G mobile networks in the country raised telecom stocks, causing the Shanghai Composite to rise 0.4%. Hong Kong Hang Seng Index fell 0.4% in a pre-holiday session. The Hong Kong Stock Exchange is closed on Tuesday.
In Japan, where the Nikkei 225 is 17.5% below its high in October and could be the next major global market to conquer the market area, the Tokyo Stock Exchange closed on vacation. It will be reopened on Tuesday.
In Europe, London and Paris traded lower as investors nervously monitored events in the US CAC-40, down 1.1%. The London FTSE 100 had fallen by 0.4%.
The Frankfurt Stock Exchange will be closed until Wednesday. The stock exchanges of London and Paris are closed on Tuesday and Wednesday.
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