US pre-open: Futures higher following last week's heavy sell-off

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday as major indices look set to try and reclaim some of last week's heavy losses. As of 1255 GMT, Dow Jones futures were up 0.74%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.51% and 0.43% firmer, respectively.

The Dow closed 748.63 points lower on Friday, extending losses recorded in the previous session as investors again grew concerned about the state of the US economy.

Trade Nation's David Morrison said: "It's difficult to pinpoint a specific catalyst for the souring sentiment, although Walmart's downbeat guidance and the slump in Palantir, a traders' favourite, didn't help. But tariffs are also a major concern, even though the only tariff implemented so far is the relatively modest additional 10% on Chinese imports.

"Friday saw a big drop in the US Services PMI, taking it below 50 and into contraction territory. This was partially offset by an uptick in the Manufacturing PMI. But the change in both numbers was attributed to political uncertainty, with tariff threats and Federal spending cuts dampening Services, while Manufacturing benefitted from businesses boosting orders to get ahead of possible trade levies."

On the macro front, the Chicago Federal Reserve's national activity index will be released at 1330 GMT.

Still to come, Donald Trump will deliver a speech at 1900 GMT.





Reporting by Iain Gilbert at Sharecast.com