Early indicators for the U.S. Futures Index suggest a potential downturn for Wall Street on Monday. As of 7:40 a.m. ET, Dow futures had dropped by 316 points, S&P 500 futures by 131.25 points, and Nasdaq 100 futures by 831 points.
Key economic reports to watch include December's New Home Sales and January's Dallas Fed Manufacturing Survey. This week, attention is expected to pivot towards the Federal Reserve's monetary policy announcement, along with data on Personal Income and Spending.
On the corporate earnings front, major companies such as Apple (AAPL), Intel (INTC), Microsoft (MSFT), Tesla (TSLA), IBM Corp. (IBM), Exxon Mobil (XOM), Boeing (BA), General Motors (GM), and Starbucks (SBUX) are set to disclose their quarterly results.
While Asian stock markets ended largely on the upside, European markets are predominantly trading in the red. In terms of commodities, gold retreated, the U.S. dollar appreciated, and oil prices experienced a decline.
The major U.S. stock averages closed negatively on Friday, with the Dow decreasing by 148.82 points (0.3%) to 44,424.25, the Nasdaq falling by 99.38 points (0.5%) to 19,954.30, and the S&P 500 sliding by 17.37 points (0.3%) to 6,101.24.
In economic news, the Chicago Fed National Activity Index for December will be released at 8:30 a.m. ET. The previous month saw a decline of 0.12. December's New Home Sales data is expected at 10:00 a.m. ET, with a consensus estimate of 672,000, slightly up from November's 664,000. The Dallas Fed Manufacturing Survey for January is due at 10:30 a.m. ET. Last month's general activity index was 3.4, and the production index stood at 3.9.
Treasury auctions are also on the calendar, with the two-year note auction at 11:30 a.m. ET and the five-year note auction at 1:00 p.m. ET.
Asian markets experienced a mixed session on Monday. China's Shanghai Composite closed slightly down at 3,250.60, while Hong Kong's Hang Seng index rose by 0.53% to 20,172.10. Japanese markets faced significant losses, with the Nikkei average decreasing by 0.92% to 39,565.80, though the broader Topix index edged up by 0.26% to 2,758.07.
In Europe, markets are largely negative. France's CAC 40 has dipped by 51.76 points (0.65%), Germany's DAX has fallen by 194.05 points (0.91%), and England's FTSE 100 has decreased by 20.52 points (0.24%). However, the Swiss Market Index has risen by 47.73 points (0.39%). The Euro Stoxx 50, which tracks leading Eurozone supersector leaders, is down 0.94%.
