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Jan 14, 2019

Before the Bell: Dow futures fall more than 200 points on concerns over longest government shutdown

Silvia Amaro

U.S. stock index futures were lower on Monday on the back of ongoing concerns over an economic slowdown in China as we well as the longest government shutdown in U.S. history.
At around 05:24 a.m. ET, Dow futures fell 215 points, indicating a negative open of 233.95 points. Futures on the S&P and Nasdaq were also down.
The moves in pre-market trade come after fresh data out on Monday showed December exports and imports dropping unexpectedly in China. These figures deepened concerns of a slowdown in the world’s second-largest economy.
Furthermore, the divisions between Democrats and Republicans over a border wall continue, meaning there is no end in sight for the re-opening of the U.S. government. Republican Senator Lindsey Graham urged the president on Sunday to reopen the government for a limited period to try to get talks going again.
The latest earnings season is starting Monday with Citigroup set to update investors before the bell.
On the data front, there are no significant releases to note.
Wall Street ended last week’s session on a higher footing, but the ongoing worries over an economic slowdown and domestic U.S. politics capped the gains on Friday.

Source: CNBC

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