U.S. Market Futures Pointing Lower with Equity Momentum Slowing

U.S. stock futures are pointing lower in pre-market trading for Monday, October 17. The Dow Futures are at 18011.0 for a loss of -48.00 points. The S&P 500 Futures are at 2120.75 for a loss of -6.25 points. The Nasdaq Futures are at 4786.75 for a loss of -17.50 points. The Russell Futures are at 1206.1 for a loss of -3.80 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 16900.12 for a gain of 43.75 points or 0.26 percent. Hong Kong’s Hang Seng Index is at 23037.54 for a loss of -195.77 points or -0.84 percent. China’s Shanghai Composite is at 3041.17 for a loss of -22.64 points or -0.74 percent. India’s S&P BSE Sensex is at 27529.97 for a loss of -143.63 points or -0.52 percent. In Europe, the FTSE 100 is at 6956.98 for a loss of -56.57 points or -0.81 percent. Germany’s DAX is at 10529.21 for a loss of -51.17 points or -0.48 percent. France’s CAC 40 is at 4450.15 for a loss of -20.77 points or -0.46 percent. The Stoxx Europe 600 is at 337.78 for a loss of -2.17 points or -0.64 percent.

Monday’s Factors and Events

Stocks are pointing lower on Monday with equity momentum slowing for the fourth quarter. Monday’s leading economic reports include the Empire State Manufacturing Survey and Industrial Production. Federal Reserve official Stanley Fischer will also be speaking on Monday.

Stocks trading actively in the pre-market included the following:

Citigroup

JPMorgan

Morgan Stanley

Acuity Brands Inc.

M&T Bank

UnitedHealth Group

HP Inc.

Nordstrom

Approximately 20 companies will report earnings on Monday. IBM will report earnings on Monday from the Dow Jones Industrial Average.

Friday’s Activity

U.S. market indexes were higher Friday. For the day the Dow Jones Industrial Average closed at 18138.38 for a gain of 39.44 points or 0.22 percent. The S&P 500 was also higher, closing at 2132.98 for a gain of 0.43 points or 0.02 percent. The Nasdaq Composite closed higher at 5214.16 for a gain of 0.83 points or 0.02 percent.

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Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes included the small-cap Russell 2000 Index lower at 1212.41 for a loss of -3.34 points or -0.27 percent; the S&P 600 Small-Cap Index lower at 736.68 for a loss of -0.97 points or -0.13 percent; the S&P 400 Mid-Cap Index at 1519.82 for a gain of 0.22 points or 0.01 percent; the S&P 100 Index at 946.89 for a gain of 0.47 points or 0.05 percent; the Russell 3000 Index at 1261.09 for a loss of -0.30 points or -0.02 percent; the Russell 1000 Index at 1181.54 for a loss of -0.04 points or 0.01 percent; and the Dow Jones U.S. Select Dividend Index at 601.22 for a loss of -0.22 points or -0.04 percent.

Julie Young

julie@dowfutures.org

Julie Young is a Senior Market Reporter and Analyst

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