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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to move back to the upside after moving lower over the two previous sessions.
Upbeat earnings news from companies such as Kimberly-Clark (KMB) and Halliburton (HAL) may contribute to early strength on Wall Street.
Trading activity is likely to be somewhat subdued, however, with traders looking ahead to the release of quarterly results from other well-known companies in the coming days.
Google parent Alphabet (GOOGL), Intel (INTC), Microsoft (MSFT), Coca-Cola (KO), Boeing (BA), and Verizon (VZ) are among the companies due to report their results this week.
Stocks moved notably lower over the course of the trading session on Friday, adding to the losses posted on Thursday. With the drop, the Dow pulled back further off the one-month closing high it set on Tuesday.
The major averages climbed off their worst levels going into the close but remained firmly negative. The Dow slid 201.95 points or 0.8 percent to 24,462.94, the Nasdaq tumbled 91.93 points or 1.3 percent to 7,146.13 and the S&P 500 slumped 22.99 points or 0.9 percent to 2,670.14.
Despite the weakness on the day, the major averages closed higher for the week. The Dow rose by 0.4 percent, while the Nasdaq and the S&P 500 climbed by 0.6 percent and 0.5 percent, respectively.
A continued decline by Apple (AAPL) weighed on the markets, with the tech giant slumping by 4.1 percent after tumbling by 2.8 percent on Thursday.
Apple remained under pressure after an analyst at Morgan Stanley warned of disappointing iPhone sales in the June quarter.
On the other hand, shares of General Electric (GE) moved sharply higher after the conglomerate reported better than expected adjusted first quarter earnings.
Industrial giant Honeywell (HON) also saw some strength after reporting first quarter results that beat estimates and raising its full-year guidance.
The downward move may have been exaggerated somewhat by below average volume, as some traders remained on the sidelines amid a lack of major U.S. economic data.
Extending a recent sell-off, tobacco stocks showed a significant move to the downside on the day. Reflecting the weakness in the sector, the NYSE Arca Tobacco Index fell by 1.6 percent to its lowest closing level in over two months.
Tobacco stocks have fallen sharply in recent sessions amid concerns about the impact of the growing popularity of alternatives such as electronic cigarettes.
Retail stocks also moved considerably lower over the course of the session, dragging the Dow Jones Retail Index down by 1.3 percent. The index continued to give back ground after ending Wednesday's trading at its best closing level in almost a month.
Semiconductor, housing, and computer hardware stocks also saw notable weakness, moving lower along with most of the other major sectors.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
At 10 am ET, the National Association of Realtors is scheduled to release its report on existing home sales in the month of March.
Existing home sales are expected to edge up by 0.2 percent in March after jumping by 3.0 percent to an annual rate of 5.54 million in February.
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| | Stocks in Focus |
Shares of Kimberly-Clark (KMB) are moving notably higher in pre-market trading after the consumer products company reported first quarter results that beat analyst estimates on both the top and bottom lines.
Airline Alaska Air (ALK) may also see early strength after reporting first quarter earnings that exceeded analyst estimates.
On the other hand, shares of Hasbro (HAS) are likely to come under pressure after the toy maker reported weaker than expected first quarter results.
Lululemon (LULU) may also move to the downside after Needham downgraded its rating on the yoga wear maker?s stock to Hold from Buy. |
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| | Europe |
European stocks are roughly flat on Monday as earnings results from UBS disappointed investors and a rise in U.S. Treasury yields tempered optimism over easing geopolitical risks.
While the U.K.?s FTSE 100 Index just below the unchanged line, the French CAC 40 Index and the German DAX Index are both marginally higher.
The pound hit a two-week low against the dollar following comments from the Bank of England Governor Mark Carney that market expectations over the possibility of a rate hike in May were overblown.
Swiss banking giant UBS has tumbled, as the company?s first quarter earnings topped forecasts, but investors were disappointed by the performance of its global private wealth management division.
Advertising and public relations company WPP has also moved lower after Ford (F) said it has put its creative account up for review.
Air France KLM shares have fallen in Paris. Air France said that it expects to operate 75 percent of its flights on Monday, the first day of a 48-hour strike over a wage dispute involving pilots, cabin crew and ground staff in France.
Germany's Fresenius Medical Care has also tumbled after signing a definitive agreement to divest its controlling interest in Sound Inpatient Physicians Holdings, LLC.
On the other hand, Temenos Group shares have rallied after the Swiss banking software supplier announced that it would not make a revised offer for Fidessa group.
Dutch consumer electronics giant Philips Electronics NV has also jumped after its first quarter results topped expectations.
Capita has soared as the British outsourcing firm announced a cash call to raise 701 million pounds after reporting a wider loss for last year.
On the economic front, the Eurozone private sector expanded at a steady pace in April, flash survey results from IHS Markit showed. The composite output index remained unchanged at 55.2 in March. The index was forecast to drop to 55.0.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended broadly lower on Monday as a sell-off in technology shares and rising U.S. bond yields tempered investor optimism over easing geopolitical risks.
Chinese stocks closed modestly lower as tech stocks sold off on smartphone maker ZTE Corp.'s U.S. woes. The benchmark Shanghai Composite Index dipped 2.74 points or 0.1 percent to 3,068.80, while Hong Kong's Hang Seng Index fell 163.93 points or 0.5 percent to 30,254.40.
Japanese shares retreated as technology stocks followed their U.S. peers lower and investors digested North Korea's pledge to halt nuclear tests and intercontinental missile launches ahead of summits with the U.S. and South Korea.
On the data front, the manufacturing sector in Japan expanded at a faster rate in April, the latest survey from Nikkei revealed with a PMI score of 53.3, up from 53.1 in March.
The Nikkei 225 Index slid 74.20 points or 0.3 percent to finish at 22,088.04, while the broader Topix index closed marginally lower at 1,750.79. Chipmaker Rohm tumbled 2.4 percent and electronics components maker Murata Manufacturing dropped 1.3 percent.
Drug maker Takeda rose 1.4 percent after announcing an improved offer for Shire. Lender Mitsubishi UFJ Financial climbed 2 percent, Sumitomo Mitsui Financial advanced 1.6 percent and insurer Dai-ichi Life Holdings jumped 4 percent. Steelmaker JFE Holdings added 2.2 percent.
Australian shares rose, led by miners and banks as commodity prices advanced and investors brushed off concerns of harsher punishments for corporate wrongdoing.
The benchmark S&P/ASX 200 Index rose 17.20 points or 0.3 percent to 5,886.00, while the broader All Ordinaries Index ended up 11.60 points or 0.2 percent at 5,976.
Higher iron ore prices helped lift miners, with BHP Billiton, Rio Tinto and Fortescue Metals Group all ending up more than 1 percent.
Australia and New Zealand Banking Group advanced 0.9 percent after the lender said it would book a loss of A$632 million ($484 million) on the divestment of two of its wealth businesses in its half-year results.
Gold miner Newcrest Mining rallied 2.8 percent after it received government approval to use the first 200m of the Cadia Hill open pit as a tailings facility.
Meanwhile, AMP tumbled 3 percent after law firm Quinn Emanuel Urquhart & Sullivan said it is considering a possible class action suit against the financial services giant, which has admitted to cheating customers.
iSelect's shares plunged 55.5 percent after the price comparison website cut its full-year earnings outlook and announced the resignation of chief executive Scott Wilson.
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| | Commodities |
Crude oil futures are slumping $0.99 to $67.41 a barrel after inching up $0.09 to $68.38 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,326.90, down $11.40 from the previous session?s close of $1,338.30. On Friday, gold tumbled $10.50.
On the currency front, the U.S. dollar is trading at 108.25 yen compared to the 107.66 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.2235 compared to last Friday?s $1.2288.
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