Around 6:00 a.m. ET, Dow futures fell 77 points, indicating a lower open of -45.05 points. Futures on the S&P 500 were indicating a slightly downbeat open of -1.77 points, while Nasdaq futures signaled a negative open of -13.76 points.
This comes amid fresh economic data, with Friday's jobs report showing another month of rising wages and a sharp revision higher to August's nonfarm payrolls. In September, the unemployment rate in the U.S. fell to a level not seen in close to 50 years, while job creation for September hit its lowest in a year, with the economy only adding 134,000 jobs, much lower than what was expected by analysts.
On Monday however, there is little economic or corporate data for investors to chew on.
In markets overseas, Chinese stocks saw declines after the People's Bank of China (PBOC) announced measures on Sunday to cut the amount of cash that banks have to hold as reserves, with the reserve requirement ratios set to be slashed by 100 basis points, effective from next week. The news comes as the nation continues to battle with the U.S. over a tit-for-tat trade war, and is the fourth time the PBOC has slashed its reserve requirement ratio (RRR) in 2018.
Are we entering the beginning of a bear market for bonds?
Not a Scientific Survey. Results may not total 100% due to rounding.
Elsewhere, prior to the Wall Street open, St. Louis Fed President James Bullard is speaking at a OMFIF Foundation city lecture in Singapore.