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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 after ending last Friday?s trading mostly higher.
Traders may be reluctant to make any significant moves amid a lack of major U.S. economic news following the slew of data and events last week.
The economic calendar remains relatively light throughout the week, although traders are likely to keep an eye on reports on producer and consumer price inflation.
On the earnings front, Disney (DIS), Tyson Foods (TSN), Tenet Healthcare (THC), Office Depot (ODP), CVS Health (CVS), and 21st Century Fox (FOXA) are among the companies due to report their quarterly results this week.
Stocks moved mostly higher over the course of the trading session on Friday, as traders digested to the Labor Department's closely watched monthly jobs report. The tech-heavy Nasdaq fluctuated as the day progressed but managed to close in positive territory.
The major averages all closed higher, although the Nasdaq underperformed its counterparts after Thursday's rally. While the Nasdaq inched up 9.33 points or 0.1 percent to 7,812.01, the Dow climbed 136.42 points or 0.5 percent at 25,462.58 and the S&P 500 rose 13.13 points or 0.5 percent to 2,840.35.
For the week, the Dow crept slightly higher, while the S&P 500 advanced by 0.8 percent and the Nasdaq jumped by 1 percent.
Before the start of trading, the Labor Department released a report showing weaker than expected job growth in the month of July due in part to a drop in government employment and the closing of Toys "R" Us stores.
The report said non-farm payroll employment climbed by 157,000 jobs in July compared to economist estimates for a jump of about 190,000 jobs.
However, the report also showed upward revisions to the increases in employment in May and June, which surged up by 268,000 jobs and 248,000 jobs, respectively.
With the upward revisions, employment gains in May and June combined were 59,000 more than previously reported.
The report also showed a modest decrease in the unemployment rate, which edged down to 3.9 percent in July from 4.0 percent in June. The drop matched economist estimates.
Meanwhile, the Labor Department said the annual rate of average hourly employee earnings growth was unchanged from the previous month at 2.7 percent.
Gregory Daco, Chief U.S. Economist at Oxford Economics, said gradually firming wages, steady labor force participation, and falling unemployment is expected to persist into the second half of the year.
"We expect around 180,000 jobs per month to be added through the rest of 2018," Daco said. "In this context, we continue to foresee four Fed rate hikes in 2018, unless trade policy foils these plans."
A separate report from the Commerce Department showed the U.S. trade deficit widened in the month of June amid an increase in imports and a decrease in exports.
The report said the trade deficit widened to $46.3 billion in June from a revised $43.2 billion in May. The deficit had been expected to widen to $46.5 billion from the $43.1 billion originally reported for the previous month.
The Institute for Supply Management also released a report showing growth in U.S. service sector activity slowed by much more than anticipated in the month of July.
The ISM said its non-manufacturing index dropped to 55.7 in July after rising to 59.1 in June. A reading above 50 still indicates service sector growth, although economists had expected a much more modest drop to 58.6.
Despite the notable advance by the broader markets, many of the major sectors ended the day showing only modest moves.
Steel stocks saw considerable strength, however, with traders going bargain hunting following yesterday's sell-off. Reflecting the strength in the sector, the NYSE Arca Steel Index climbed by 1.1 percent.
Utilities, retail, and chemical stocks also move to the upside on the day, while significant weakness was visible among biotechnology stocks.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
Following the slew of economic data and events last week, the calendar for this week is relatively quiet. There are no major economic reports scheduled to be released today. |
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| | Europe |
European stocks have fallen on Monday as the U.S.-China trade tensions showed little sign of easing and investors factored in a greater chance of a no-deal Brexit.
While the U.K.?s FTSE 100 Index has dipped by 0.2 percent, the German DAX Index and the French CAC 40 Index are both down by 0.2 percent.
The U.K. appears set to crash out of the EU without a Brexit deal due to the "intransigence" of the European Commission, U.K. Trade Secretary Liam Fox said over the weekend.
Chinese state media has unleashed an unusually brutal and personal attack on U.S. President Donald Trump, raising investor concerns that the risks from the U.S.-China trade war will be a drag on overall global growth.
HSBC Holdings has moved lower in London. After reporting a 5 percent rise in first-half profit before tax, the lender said it remains cautiously optimistic for global growth in the remainder of the year.
Italian bank Banco BPM has also come under pressure after its earnings fell short of market expectations due to higher loan loss provisions.
German industrial gases group Linde has tumbled after U.S. regulators raised an unexpected hurdle to its planned tie-up with Praxair.
On the other hand, John Laing Infrastructure Fund has rallied. Dalmore Capital and Equitix Investment Management are set to acquire the company for £1.45bn.
German factory orders declined 4 percent month-on-month in June, reversing a 2.6 percent increase in May. This was the biggest fall since January 2017.
Elsewhere, Eurozone confidence among investors improved to a 3-month high in August as they see signs of relief in the EU's trade dispute with the US, survey data published by think tank Sentix showed.
The investor sentiment index climbed to 14.7 in August from 12.1 in July. This was the highest score since June.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Monday as investors digested a mixed U.S. jobs report and kept an eye on intensifying trade tensions between the U.S. and China.
Chinese shares fell after Beijing's latest tariff threats escalated the tit-for-tat U.S.-China trade war. The benchmark Shanghai Composite Index gave up early gains to close 2,705.16 points or 1.3 percent lower at 2,705.16. Meanwhile, Hong Kong's Hang Seng Index rose 243.24 points or 0.5 percent to 27,819.56.
The overseas edition of the ruling Communist Party's People's Daily newspaper said U.S. President Donald Trump was "starring in his own carefully orchestrated street fighter-style deceitful drama" in which diplomacy had been reduced to a "trading game in which everything should follow the rule of America first".
The yuan also weakened despite China's central bank late on Friday raising the reserve requirement on foreign exchange forward positions.
Japanese shares fell in cautious trade as investors looked forward to a raft of corporate earnings as well as this week's bilateral talks between Washington and Tokyo. The Nikkei 225 Index fluctuated before finishing marginally lower at 22,507.32, while the broader Topix Index ended down 0.6 percent at 1,732.90.
Taisei Corp plunged 13 percent after its quarterly profit fell over 34 percent from last year. Foster Electric plummeted as much as 23 percent after predicting a net loss of 2.5 billion yen for the year ending March 2019. NTT Data jumped 7.5 percent after its April-June profit grew 23 percent.
Australian shares finished modestly higher as a rebound in commodity prices on Friday helped lift miners. The benchmark S&P/ASX 200 Index climbed 38.20 points or 0.6 percent to 6,273, while the broader All Ordinaries Index ended up 32.60 points or 0.5 percent at 6,359.
Mining heavyweights BHP Billiton and Rio Tinto rose 2.2 percent and 0.6 percent, respectively. Commonwealth Bank of Australia gained 1 percent ahead of its annual results due on Wednesday, while the other three banks rose between 0.3 percent and 1 percent. Wealth manager AMP dropped 1.4 percent.
Galaxy Resources shares rallied 3.3 percent. The company said its agreement with Posco for the sale of certain Argentinean assets was ahead of schedule.
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| | Commodities |
Crude oil futures are climbing $0.76 to $69.25 a barrel after falling $0.47 to $68.49 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,2115.70, down $7.50 from the previous session?s close of $1,223.20. On Friday, gold rose $3.10.
On the currency front, the U.S. dollar is trading at 111.49 yen compared to the 111.25 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1544 compared to last Friday?s $1.1568.
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