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NEW YORK – US equities futures hint at higher openings on Monday as investors prepare for another rollercoaster ride on Wall Street this week, following concerns over the battle between hedge funds and day traders over GameStop last week, AMC Entertainment and a handful of shares.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 29982.62 | -620.74 | -2.03% |
| SP500 | S&P 500 | 3714.24 | -73.14 | -1.93% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13070.69452 | -266.46 | -2.00% |
The S&P 500 fell 1.9% to 3,714.24, giving the benchmark index its biggest weekly loss since October. The S&P 500 has continued to rise by 13.6% since the end of October.
STOCK STOCKS FALL ON TRADE RELATIONS
The Dow Jones industrial average fell 2% to 29,982.62 and the Nasdaq Composite lost 2% to 13,070.69.
Investors are also watching the negotiations in Washington over President Joe Biden’s proposed package of $ 1.9 billion in economic aid. The hope for help, coupled with the Federal Reserve’s promise to keep low-cost credit plentiful, has brought the S&P 500 and other major indices to a record high.
On Friday, the Wall Street S&P 500 index lost 1.9% after GameStop, a video player and other stocks soared through day traders. Investors say the hedge funds betting on these stocks are losing money and selling other stocks.
US stock futures are set to open higher on Monday as investors prepare for another rollercoaster ride on Wall Street this week after concerns arose last week over the battle between hedge funds and day traders over GameStop, AMC And.
Meanwhile, Asian stock markets rose on Monday after coronavirus vaccine maker AstraZeneca agreed to increase supplies to Europe amid growing concern about the disease.
Shanghai, Tokyo, Hong Kong and Seoul progressed.
AstraZeneca announced that the markets would supply less than half of the promised doses to the European Union, which the EU has asked to apply export controls. AstraZeneca on Sunday promised to increase European stocks and start delivery earlier.
“It seems that concerns surrounding the pandemic are back in full force as problems with vaccine distribution and efficacy re-emerge, even as the virus has spread,” Mizuho Bank said in a report.
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The EU announced on Sunday that AstraZeneca has agreed to deliver 9 million additional doses of its coronavirus vaccine to Europe.
The new target of 40 million doses by the end of March is half of the target the British-Swedish company originally aimed for before announcing a shortage due to production problems. The EU stands behind the United States in vaccinating its 450 million people.
The Shanghai Composite Index rose 0.1% to 3,486.46 and the Nikkei 225 in Tokyo added 1.4% to 28,041.27. Hong Kong’s Hang Seng rose 1.9% to 28,822.61.
The Kospi in Seoul rose 2.2% to 3,042.19 and Sydney and S&P-ASX 200 added 0.8% to 6,661.70.
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India’s Sensex declined by 0.2% to 46,759.42. New Zealand and Singapore declined as Bangkok and Jakarta progressed.
A purchasing manager index released by business magazine Caixin dropped from December 53 to 51.5 on a 100-point scale on which numbers above 50 reflect activity expansion. A separate PMI by the official statistics agency shows similar weakening.
The data suggests that China’s setback is ‘declining’, Capital Economics Julian Evans-Pritchard said in a report.
Investors are offering shares in the expectation that the introduction of coronavirus vaccines will bring global business and travel back to normal. That optimism was averted by new infection spikes and interruptions in the delivery of vaccines.
In the energy markets, standard US crude rose 21 cents to $ 52.41 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 14 cents to $ 52.20 on Friday. Brent crude, the base for international oil prices, rose 34 cents to $ 55.38 a barrel in London.
The dollar fell to 104.70 yen from 104.75 yen. The euro rose lower to $ 1.2130 from $ 1.2132.