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Jul 30, 2018

Open Expectation of Wall Street: US stocks set for a weak open, as fresh earnings, data roll in I CNBC

Alexandra Gibbs

U.S. stock index futures pointed to a muted open on Monday as negative trade from international markets weighed on sentiment.
Around 6:50 a.m. ET, Dow Jones Industrial Average futures gained 9 points, but indicated a decline of 4.06 points at the open. Nasdaq 100 pointed to slight declines while S&P 500 futures indicated a relatively flat start to their respective sessions.
Pedestrians walk along Wall Street near the New York Stock Exchange in New York. Michael Nagle | Bloomberg | Getty Images
Pedestrians walk along Wall Street near the New York Stock Exchange in New York.
On Monday, a slew of corporates are due to report their earnings, with investors keeping a close eye on updates out of Caterpillar, Simon Property Group, Bloomin' Brands, Samsung Electronics and AK Steel.
In data, pending homes sales are due out at 10 a.m. ET, followed by the Dallas Fed's manufacturing survey at 10:30 a.m. ET.
This comes just days after the advance reading of the U.S.' gross domestic product (GDP) for the second quarter, which showed Friday that the economy had grown by 4.1 percent, in line with estimates.
While no speeches by the Federal Reserve are scheduled to take place Monday, investors will be gearing up for the latest Federal Open Market Committee (FOMC), which is due to take place Tuesday and Wednesday.
A policy decision is set to be announced Wednesday afternoon and should provide some insight into the performance of the U.S. economy.
Elsewhere, concerns surrounding trade will remain in focus, as investors wonder what's next for relations between the U.S. and major economies.
President Donald Trump is set to welcome Prime Minister Giuseppe Conte of Italy to the White House on Monday, where the two leaders are likely to comment on global conflicts and how to promote economic prosperity on both sides of the Atlantic.

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