Business

U.S. stock futures slip from record levels as Chinese data, Afghanistan situation take spotlight

U.S. inventory futures declined on Monday, as weaker-than-forecast Chinese language financial knowledge forged a pall on market sentiment.

What’s occurring

  • Futures on the Dow Jones Industrial Common
    YM00,
    -0.23%

    declined 77 factors;

  • Futures on the S&P 500
    ES00,
    -0.23%

    declined 0.2%;

  • Futures on the Nasdaq Composite
    NQ00,
    -0.17%

    slipped 0.1%.

Final week, the S&P 500
SPX,
+0.16%

tacked 0.7% and registered its forty eighth file shut of 2021. The Nasdaq Composite
COMP,
+0.04%

registered a 0.1% decline, its second fall in three weeks.

What’s driving markets

Knowledge launched out of China confirmed retail gross sales, industrial manufacturing and fixed-asset funding all rising slower than forecast. “The slowdown is now plain for all to see. The delta outbreak and return of shutdowns throughout China isn’t serving to both in fact,” mentioned Arne Petimezas, senior analyst at AFS.

The disappointing knowledge from the world’s second-largest economic system got here after a Friday report displaying a stunning drop in U.S. consumer sentiment. A report on New York-area manufacturing is due for launch on Monday.

Information headlines had been additionally targeted on the state of affairs in Afghanistan, the place the Taliban has swiftly taken energy after the withdrawal of U.S. forces, main some to marvel if political fallout will lengthen past overseas coverage.

“For [President Joe] Biden, the developments in Afghanistan have created some unwelcome headlines simply as additional progress was being made on his financial agenda, with the Senate passage of the infrastructure invoice with bipartisan help final week,” mentioned Henry Allen, strategist at Deutsche Financial institution.

https://www.marketwatch.com/story/u-s-stock-futures-slip-from-record-levels-as-chinese-data-afghanistan-situation-take-spotlight-11629104884?rss=1&siteid=rss | U.S. inventory futures slip from file ranges as Chinese language knowledge, Afghanistan state of affairs take highlight

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