U.S. stock futures lower in pre-market trading for Monday, April 23.The Dow Futures is trading at 24,395.00 with a loss of -0.16% percent or -38.00 point.The S&P 500 Futures is trading at 2,669.00 with a loss of -0.09% percent or -2.50 point.The Nasdaq Futures is trading at 6,669.25 with a loss of -0.10% percent or -7.00 point.
In overnight trading in the Eastern Hemisphere,Japan’s Nikkei 225 is trading at 22,088.04 with a loss of -0.33% percent or -74.20 point. Hong Kong’s Hang Seng is trading at 30,315.84 with a loss of -0.34% percent or -102.49 point. China’s Shanghai Composite is trading at 3,065.72 with a loss of -0.19% percent or -5.82 point. India’s BSE Sensex is trading at 34,564.52 up with +0.43% percent or +148.94 point at 12:15 PM.The FTSE 100 is trading at 7,374.62 up with +0.083% percent or +5.38 point. Germany’s DAX is trading at 12,478.47 with a loss of -0.49% percent or ?62.03 point. France’s CAC 40 is trading at 5,396.34 with a loss of -0.30% percent or -16.42 point. The Stoxx Europe 600 is trading at 380.79 with a loss of -0.28% percent or -1.08 point.
Monday’s Factors and Events
Friday’s Activity
U.S. market were lower on Friday.For the day the Dow is trading at 24,462.94 with a loss of -0.82% percent or -201.95 point. The S&P 500 is trading at 2,670.14 with a loss of -0.85% percent or -22.99 point. The Nasdaq Composite is trading at 7,146.13 with a loss of -1.27% percent or -91.93 point
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,564.12 with a loss of -0.62% percent or -9.69 point; the S&P 600 Small-Cap Index closed at 961.76 with a loss of -0.63% percent or -6.05 point; the S&P 400 Mid-Cap Index closed at 1,900.50 with a loss of -0.69% percent or -13.12 point; the S&P 100 Index closed at 1,170.45 with a loss of -0.97% percent or -11.44 point; the Russell 3000 Index closed at 1,584.38 with a loss of -0.81% percent or ?12.88 point; the Russell 1000 Index closed at 1,481.18 with a loss of -0.82% percent or ?12.28 point;
“The market is still very susceptible to technicals at this point,” said Jeff Kilburg, CEO of KKM Financial. Breaking below the 50-day moving average caused a “technical washout in the market,” he said. The Nasdaq and Dow also closed below their 50-day moving averages.
Apple shares fell 4.1 percent after Morgan Stanley said the company’s iPhone sales for the June quarter will disappoint Wall Street. The stock had already fallen more than 1 percent for the week heading into Friday’s session.
The decline in Apple offset a 4 percent gain in General Electric. The industrial giant reported quarterly earnings and revenue that beat analyst expectations and reaffirmed its outlook for the rest of 2018. Honeywell also posted stronger-than-expected earnings on Friday. Its stock rose 1.6 percent.
About 16 percent of the S&P 500 has released its quarterly results through Friday, with 81.5 percent of those companies posting better-than-expected earnings, according to FactSet. Next week will be the busiest week of the season, with more than a third of the S&P 500 set to report. Some of the companies scheduled to release their results include tech giants Alphabet, Intel and Microsoft