US equity futures It is likely to decline ahead of Monday’s release of earnings reports from the country’s largest retailer.
The week ahead will see a number of retail industry reports, including from Walmart, Home Depot, Lowe’s, Macy’s, Target and TJX Brands. The companies reporting January-March results next week will also include three Dow members: Walmart and Home Depot on Tuesday and Cisco Systems on Wednesday.
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Wall Street’s benchmark S&P 500 index rose on Friday. But ended the week down 1.4%
Wall Street earnings on Friday were led by technology stocks. Retailers, banks and industrial stocks also soared.
The S&P 500 rose 1.5% to 4,173.85.The Dow Jones Industrial Average added 1.1% to 34,382.13, down 1.1% this week.The Nasdaq rose 2.3% to 13,429.98 for its weekly loss of 2.3%.
It was after three days of heavy sell-off, boosted by investors worried about a spike in inflation in the United States. The major indexes hit an all-time high in the previous week. Wall Street, however, turned down its biggest weekly drop in three months last week.
Apple, Microsoft, Facebook, Amazon and the parent company of Google Alphabet rose 1% or so.
Government data on Friday showed US retail spending was flat in April at the previous month’s levels. But below expectations for a 1% increase in March.
DOORDASH ATTRIBUTES Q1 Sales grow to stimulating audit.
Meanwhile, Asian stock markets mixed Monday after Taiwan and Singapore tightened their efforts to combat the coronavirus.
Shanghai and Hong Kong progressed, while Tokyo and Seoul fell.
Taiwan and Singapore announced restrictions on public assembly and other controls over the weekend after an increase in new infections raised concerns that the region’s economic recovery could be pushed back.
“Concerns about the virus recovery may continue to exist in the region,” IG’s Yeap Jun Rong said in the report.
The Shanghai Composite Index rose 1 percent to 3,524.04 after the Chinese government reported a slowdown in retail spending growth, factory output and investment in April from earlier explosive rates.
The Nikkei 225 in Tokyo was down 0.8% to 27,867.96, while Hong Kong’s Hang Seng was up 0.6% to 28,204.14.
Seoul’s Kospi slid 0.4% to 3,139.93, while Sydney’s S & P-ASX 200 increased 0.3% to 7,036.70.
India’s Sensex opened up 1 percent at 49,207.64, New Zealand and Singapore gained, while Bangkok and Jakarta retreated.
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There are 180 cases of the novel coronavirus in Taiwan and 15 in Singapore, the number is very small compared to thousands of India. But the economic recovery that appears to have the disease is under control has raised concerns. Malaysia, Thailand and the Philippines have previously imposed new controls in response to increasing infections.
Thailand, which has been largely under control by closing borders and setting quarantines, reported nearly 10,000 new confirmed cases Monday. About two-thirds of them were in prison.
“You don’t have much time to catch this before you can deal with an Indian-like situation,” ING’s Robert Carnell said in a report. Economic impact “Much will depend on the success of the measures being implemented now.”
In energy markets, U.S. crude rose 3 cents to $ 65.40 a barrel in electronic trading on the New York Mercantile Exchange.The contract gained $ 1.55 on Friday to $ 65.37. The country fell 3 cents to $ 68.68 a barrel in London. It closed higher $ 1.66 earlier at $ 68.71.
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The dollar rose at 109.36 yen.The euro fell to $ 1.2129 from $ 1.2143.