Early indications from the US Futures Index suggest that Wall Street may begin the day on a downward trend. Investors will likely pay attention to this week's reports on New Home Sales, Durable Goods Orders, Consumer Confidence, and Pending Home Sales. Mostly negative trade results were seen in both Asian and European markets. As of 8 a.m. ET, the Dow futures dropped by 72.00 points, the S&P 500 futures dwindled by 16.25 points, while the Nasdaq 100 futures fell by 96.50 points.
In the previous trading session, the major US averages showed variable results. There was a slight improvement in Nasdaq performance with an increase of 26.98 points or 0.2 percent, reaching a record high of 16,428.82. However, the S&P 500 hit a low of 7.35 points or 0.1 percent at 5,234.18, and the Dow fell 305.47 points or 0.8 percent to 39,475.90.
Despite the varying results of the day, there was a significant increase in the week's performance for all major averages. The Nasdaq surged by 2.9 percent, the S&P 500 rose by 2.3 percent, and the Dow jumped by 2.0 percent.
Economic indicators are suggesting that the Chicago Fed National Activity Index for February will record a reading of minus 0.50, down from minus 0.30 the prior month. Additionally, the New Home Sales for February are predicted to hit 675K, up from 661K in the preceding month.
The Dallas Fed Manufacturing Survey for March release shows a consensus of minus 10.5, following the general activity index’s drop of 11.3 in February.
Finally, a two-year Treasury Note auction is scheduled for 1 p.m. ET.
Meanwhile, Asian stocks mainly descended on Monday, with Chinese markets showing noticeable downturns. The Shanghai Composite index fell by 0.71 percent to 3,026.31, and Hong Kong's Hang Seng index dipped by 0.16 percent to 16,473.64.
Japanese markets also showed a sharp decline. The Nikkei average dipped 1.16 percent down to 40,414.12, and the broader Topix index landed at 1.26 percent lower, settling at 2,777.64.
In contrast to the overall regional trend, Australian markets managed to rise. The benchmark S&P/ASX 200 recorded an increase of 0.53 percent to 7,811.90, while the broader All Ordinaries index elevated by 0.56 percent, closing at 8,071.50.
