US stocks to start the week higher on reduced trade tensions – Fox Business

US stocks to start the week higher on reduced trade tensions – Fox Business

U.S. equity futures are pointing to a lower open on Monday after manufacturing reports in Europe indicated growth was grinding to a halt.

The three major indexes are tradingf mixed.

Concerns about those reports from Germany and France are again raising concerns about recession.


    Optimism increased over the weekend as the U.S. and China referred to last week’s trade talks as “productive” and “constructive.”

    A higher-level round of talks is still scheduled to go ahead in October.

    Wall Street ended last week with losses, snapping a 3-week winning streak for the S&P 500 after reports emerged that Chinese officials canceled a planned trip to farms in Montana and Nebraska.

    Ticker Security Last Change %Chg
    I:DJI DOW JONES AVERAGES 26935.07 -159.72 -0.59%
    SP500 S&P 500 2992.07 -14.72 -0.49%
    I:COMP NASDAQ COMPOSITE INDEX 8117.674437 -65.20 -0.80%

    The S&P 500 fell 0.5 percent, the Dow Jones Industrial Average dropped 0.6 percent and the Nasdaq lost 0.8 percent.

    In Asian trading on Monday, the Shanghai Composite index closed down 1.1 percent while Hong Kong’s Hang Seng ended the day down 0.8 percent after yet another weekend of violent protests.Tokyo’s markets were closed for a holiday.

    Fosun Tourism Group, the biggest shareholder in Thomas Cook, fell 3.8 percent in Hong Kong after the 178-year-old British tour company collapsed.

    Bookings for more than 600,000 global vacationers were canceled Monday as a result.

    Shanghai-based Fosun International dropped 1 percent.


    Britain’s Civil Aviation Authority said Thomas Cook’s four airlines would be grounded and its 21,000 employees in 16 countries, including 9,000 in the UK, will lose their jobs.

    In Europe, London’s FTSE was off 0.2 percent, Germany’s DAX was down 1 percent and France’s CAC lost 0.7 percent.

    The Associated Press contributed to this article.


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