U.S. Stock futures fell Monday in a short session, as the weakest Chinese growth data in three decades.
Regular trading for U.S. Market will be closed Monday in honor of Martin Luther King Jr. Day. Markets will resume
How did the benchmarks fare?
Dow Jones Industrial Average Futures
Fall 87 points, or 0.4%, to 24,599, while S & P 500 futures
dropped 8.85 points, or 0.3%, to 2,662.75. Nasdaq-100
Fall 27.25 points, or 0.4%, to 6,765.50
Stocks closed for the fourth straight session The Dow Jones Industrial Average
DJIA, + 1.38%
rose 336.25 points, or 1.4%, to end at 24,706.35 for a weekly gain of 3%. The S & P 500 index
SPX, + 1.32%
advanced 1.3% to 2,670.71, up 2.9% for the week. The Nasdaq Composite
Comp, + 1.03%
added 1% to 7,157.23, finishing out the week 2.7% higher.
What's driving markets?
China's gross domestic product for 2018 rose 6.6%, the slowest annual pace that the country has recorded since 1990. The downturn deepened in the fourth quarter of last year, with growth rising 6.4% on a yearly basis. The trade conflict with the U.S. Added to the country's woes as some exporters
Read: On trade, China's private-equity king is 'hopeful for the best, ready for the worst'
The U.S. and China remains at loggerheads over a key issue with allegations that the latter has been engaged in the intellectual property for decades. Bloomberg News reportedly has very little progress Meanwhile, President Donald Trump said on Twitter that stock-rallying reports last week that the U.S. would ease tariffs on China were not correct, even as he said talks were "going very well."
A partial government shutdown stretched in its 30th day on Monday, and there was no sign of deadlock easing. Democrats rejected Trump's latest proposal to temporary compensation protections for young immigrants brought to the country illegally in exchange for $ 5.7 billion for their border wall
The shutdown has caused a backlog of economic data, with only a smattering of reports due this week, including current home sales, weekly jobless claims and Markit manufacturing and services purchasing managers index data this week.
Opinion: These 3 leading economic indicators
Earnings Will Swing In Johnson & Johnson
JNJ, + 1.24%
, IBM Corp.
IBM, + 1.33%
, Advanced Micro Devices Inc.
AMD, + 2.57%
and Ford Motor Co.
F, + 2.63%
IBM earnings: Emerging tech expected to account
What are strategists saying?
"That is still a decent expansion by any standards, with the economy growing by 6.4% in Q4, however it reinforces the concerns of a slowdown that has prompted a series of measures by Chinese authorities this month to try the worst effects of some sharp financial weakness that has spooked global investors, "said Michael Hewson, chief market analyst at CMC Markets UK, in a note to clients. Hewson was referencing the China growth data
How are other markets trading?
Markets in Asia saw a positive session, though gains were tempered by China data. The Shanghai Composite Index
SHCOMP, + 0.56%
closed up 0.5%. In Europe, the Stoxx Europe 600
was off 0.2%.
CLG9, + 0.19%
eased modestly, while gold
dipped 0.4% to $ 1,277.60 an ounce and the U.S. dollar
DXY, + 0.04%
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