The main headlines of Fox Business Flash are here. Check out what is clicking on FoxBusiness.com.
NEW YORK – U.S. stock futures are aiming for a wider opening on Monday as investors prepare for another roller coaster ride on Wall Street this week after anxiety increased last week about the hedge fund fight and day traders on GameStop, AMC Entertainment and a handful of other stocks.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 29982,62 | -620.74 | -2.03% |
| SP500 | S&P 500 | 3714.24 | -73.14 | -1.93% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13070,69452 | -266.46 | -2.00% |
The S&P 500 fell 1.9% to 3,714.24, giving the benchmark its biggest weekly loss since October. The S&P 500 is still up 13.6% since the end of October.
FUTURE SHARES FALL INTO RETAIL TRADING ISSUES
The Dow Jones Industrial Average fell 2% to 29,982.62 and the Nasdaq compound lost 2% to 13,070.69.
Investors are also watching negotiations in Washington over President Joe Biden’s $ 1.9 trillion economic aid package. Hopes for help, coupled with the Federal Reserve’s pledge to keep low-cost credit abundant, took the S&P 500 and other key indices to record highs.
On Friday, Wall Street’s S&P 500 benchmark fell 1.9% after GameStop, a video game provider, and other stocks soared by day traders. Investors said that hedge funds that bet against these stocks are losing money and selling other stocks.
U.S. stock futures are aiming for a higher opening on Monday, with investors gearing up for another roller coaster ride on Wall Street this week after anxiety increased last week over the fight between hedge funds. and traders of the day on GameStop, AMC En
Meanwhile, Asian stock markets rose on Monday after the coronavirus vaccine maker AstraZeneca agreed to increase supplies to Europe amid growing concerns about the disease.
Shanghai, Tokyo, Hong Kong and Seoul moved forward.
The markets were shaken by AstraZeneca’s announcement that it would supply the European Union with less than half of the promised doses, prompting the EU to impose export controls. On Sunday, AstraZeneca promised to increase European supply and start delivery earlier.
“Concerns about the pandemic appeared to return in full force as vaccine distribution and efficacy problems re-emerged, even as the virus spreading to gain momentum,” said Mizuho Bank in a report.
DISCOVER FOX BUSINESS ON THE MOVE BY CLICKING HERE
On Sunday, the EU announced that AstraZeneca has agreed to supply 9 million additional doses of its coronavirus vaccine to Europe.
The new target of 40 million doses by the end of March is half what the Swedish-British company intended before announcing a deficit due to production problems. The EU supports the United States in vaccinating its 450 million people.
The Shanghai Composite Index rose 0.1% to 3,486.46 and the Nikkei 225 in Tokyo added 1.4% to 28,041.27. Hang Seng in Hong Kong gained 1.9% to 28,822.61.
The Kospi in Seoul rose 2.2% to 3,042.19 and the S & P-ASX 200 in Sydney added 0.8% to 6,661.70.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
India’s Sensex opened 0.2% at 46,759.42. New Zealand and Singapore declined, while Bangkok and Jakarta advanced.
An index of purchasing managers published by the business magazine Caixin dropped to 51.5 from December 53 on a 100-point scale where numbers above 50 reflect the expansion of activity. Another PMI from the official statistics agency showed a similar weakness.
The data suggest that China’s recovery “is stabilizing,” said Julian Evans-Pritchard of Capital Economics in a report.
Investors stepped up stocks in the expectation that the launch of coronavirus vaccines would allow global business and travel to return to normal. This optimism was hampered by new peaks of infection and interruptions in the distribution of vaccines.
In the energy markets, US reference oil rose 21 cents to $ 52.41 a barrel in e-commerce on the New York Mercantile Exchange. The contract fell 14 cents on Friday to $ 52.20. Brent crude oil, the basis for pricing international oils, gained 34 cents to $ 55.38 a barrel in London.
The dollar fell to 104.70 yen from 104.75 yen. The euro fell to $ 1.2130 from $ 1.2132.