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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 roughly flat opening on Monday, with stocks likely to show a lack of direction following the lackluster performance seen last week.
After seeing modest strength for much of the session, stocks pulled back near the unchanged line in afternoon trading on Friday before closing slightly lower. The major averages added to the losses posted in the previous session.
The major averages ended the day just below the unchanged line. The Dow edged down 6.38 points or less than a tenth of a percent to 25,058.12, the Nasdaq slipped 5.10 points or 0.1 percent to 7,820.20 and the S&P 500 dipped 2.66 points or 0.1 percent to 2,801.83.
For the week, the major averages turned in a mixed performance. While Nasdaq edged down by 0.1 percent, the S&P 500 inched up less than a tenth of a percent and the Dow rose by 0.2 percent.
The modestly lower close on Wall Street came after President Donald Trump continued to urge the Federal Reserve to refrain from raising interest rates.
Trump suggested the Fed's plan to gradually raise rates could hurt recent economic progress, claiming the rate hikes penalize the U.S. for doing well.
"The United States should not be penalized because we are doing so well," Trump tweeted. "Tightening now hurts all that we have done."
He added, "The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates - Really?"
In an interview with CNBC, Trump also indicated a willingness to impose tariffs on all Chinese imports to the U.S.
"I'm ready to go to 500," Trump said, apparently referring to the $505.5 billion of Chinese imports to the U.S. in 2017.
"I'm not doing this for politics, I'm doing this to do the right thing for our country," Trump said. "We have been ripped off by China for a long time."
The Trump administration previously imposed tariffs of $34 billion worth of Chinese imports and has threatened to impose tariffs on another $200 billion worth of goods.
Trump argued the strength in the stock market since his election has allowed him to be more aggressive on trade, claiming, "We're playing with the bank's money."
The modest strength seen earlier in the day came amid a positive reaction to earnings news from big-name companies like Microsoft (MSFT), with the software giant climbing 1.8 percent.
The advance by Microsoft came after the company reported better than expected fiscal fourth quarter results and provided upbeat guidance for the current quarter.
Industrial conglomerate Honeywell (HON) also moved notably higher after reporting second quarter results that exceeded analyst estimates and raising its full-year guidance.
On the other hand, shares of General Electric (GE) moved to the downside even though the industrial conglomerate reported second quarter results that beat expectations on both the top and bottom lines.
Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.
Housing, oil service and real estate stocks moved to the downside on the day, while tobacco stocks continued to recover from the early sell-off seen in the previous session.
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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 June. Existing home sales are expected to climb by 0.5 percent in June after falling by 0.4 percent in May. |
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| | Europe |
European stocks have fallen on Monday as trade tensions persisted and investors braced for a busy week of corporate earnings.
The U.S. dollar slumped after U.S. President Donald Trump accused the European Union and China of manipulating their currencies.
In addition, Trump talked of more tariffs on China and continued his attack on the Federal Reserve for raising interest rates, saying tightening penalizes the U.S. for doing well.
Meanwhile, the weekend's G20 meeting of finance ministers in Argentina did little to allay fears of a global trade war.
Investors looked ahead to an important meeting on trade between Trump and European Commission President Jean-Claude Juncker at the White House on Wednesday, with EU officials saying they have low expectations for a positive outcome.
While the French CAC 40 Index has fallen by 0.5 percent, the U.K.?s FTSE 100 Index and the German DAX Index are both down by 0.2 percent.
Fiat Chrysler Automobiles NV has moved to the downside after the company replaced ailing CEO Sergio Marchionne with Mike Manley.
Dutch consumer electronics giant Philips has also declined after reporting a drop in second quarter net profits, reflecting a loss from discontinued operations.
Julius Baer Gruppe has fallen more than 4 percent. The Swiss private bank warned that clients are becoming more cautious due to rising trade tensions.
On the other hand, WPP has jumped more than 2 percent in London. Sky News reported that the British advertising giant is in talks to sell a minority stake in its Chinese unit to Alibaba, Tencent and China Media.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks fell broadly on Monday after U.S. President Donald Trump threatened to slap punitive tariffs on all Chinese imports and the Group of G20 finance ministers warned of increased risks to global economic growth.
Trump's remarks criticizing the Federal Reserve for raising interest rates and accusations that the European Union and China are manipulating their currencies to gain on edge in global trade also weighed on markets.
China's Shanghai Composite index reversed early losses to end higher by over 1 percent at 2,859.54. Hong Kong's Hang Seng index closed up about 0.1 percent at 28,256.
Japanese shares hit a ten-day low as the yen surged against the dollar on speculation the Bank of Japan might announce changes to its ultra-loose monetary policy.
The Nikkei average ended the session down 300.89 points or 1.33 percent at 22,396.99 after hitting as low as 22,341.87 earlier in the day, its weakest level since July 13. The broader Topix index closed 0.36 percent lower at 1,738.70.
Fast Retailing plummeted 5.7 percent on speculation of BoJ shift in ETF purchases. Exporters Panasonic, Honda Motor, Toyota Motor and TDK Corp declined 1-2 percent. Financials rose, with lender Mitsubishi UFJ Financial Group climbing as much as 3.6 percent.
Australian shares tumbled as investors fretted over Trump's more aggressive protectionist policies. The benchmark S&P/ASX 200 index and the broader All Ordinaries index both lost about 0.9 percent to finish at 6,227.60 and 6,320.10, respectively.
Financials were among the worst hit, with the big four banks ending down between half a percent and 0.9 percent. Mining heavyweight BHP Billiton dropped 1.4 percent. The company is facing a class action lawsuit in an Australian court regarding the 2015 Samarco dam failure in Brazil.
Wesfarmers fell 1.3 percent after unveiling more details on the Coles spin-off deal. Gold miner Evolution gave up 1 percent and Newcrest shed 0.7 percent after the gold index lost nearly 6 percent last week.
Nufarm plunged 11 percent. The agricultural chemicals supplier forecast a sharp fall in full-year earnings, saying that extended dry conditions due to a lack of autumn rain across Australia resulted in a poor winter growing season.
Seoul stocks closed lower as trade tensions intensified between the U.S. and China. The benchmark Kospi dropped 19.88 points or 0.87 percent to 2,269.31, dragged down by technology heavyweights.
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| | Commodities |
Crude oil futures are climbing $0.91 to $69.17 a barrel after inching up $0.02 to $68.26 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,229, down $2.10 from the previous session?s close of $1,231.10. On Friday, gold climbed $7.10.
On the currency front, the U.S. dollar is trading at 111.25 yen compared to the 111.41 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1722 compared to last Friday?s $1.1724.
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