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Futures point to lower open on Wall Street; earnings in focus

Sam Meredith
Updated
Futures point to lower open on Wall Street; earnings in focus

U.S. stock index futures pointed to a lower open on Monday as traders paused for breath after the inauguration of President Donald Trump .

Trump is expected to sign an executive order as early as Monday that will put in motion the renegotiation of the North America Free Trade Agreement (NAFTA).

President Trump is also expected to sign an executive order announcing his intention to withdraw from the Trans-Pacific Partnership (TPP) , a trade agreement among 11 other Pacific Rim countries.

On the earnings front, McDonald (NYSE: MCD)'s and Halliburton reported before the bell. Yahoo (NASDAQ: YHOO) and ResMed (NYSE: RMD) are both due to report after the market close.

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There are no major U.S. economic data reports scheduled to be released on Monday.


In Europe, the pan-European Stoxx-600 index was around 0.4 percent lower on Monday. In Asia, the Shanghai Composite in China closed 0.43 percent higher, while the Nikkei in Japan closed 1.29 percent lower.

In oil markets, prices eased on Monday as the likelihood of rising U.S. production weighed on the market. Energy companies in the U.S. added the most rigs drilling for new production in nearly four years.

Brent crude (Intercontinental Exchange Europe: @LCO.1) traded at around $54.80 a barrel on Monday, down 1.24 percent, while U.S. crude (New York Mercantile Exchange: @CL.1) was around $52.33 a barrel, down 1.67 percent.



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