U.S. stock futures decline in early trading, Wall Street welcomes the last trading week before the election

U.S. stock futures decline in early trading, Wall Street welcomes the last trading week before the election

   US stock index futures fell in early trading on Monday, As the US election approaches, the US stock market enters the last full trading week before the election day.

U.S. stock futures decline in early trading, Wall Street welcomes the last trading week before the election

  As of press time, Dow futures fell 202.5 points or 0.72% to 27,999 points; S&P 500 index futures fell 25.88 points or 0.75% to 3,27.12 points; Nasdaq 100 index futures fell 72.26 points or 0.62% to 11587.62 points.

   Last Wednesday, the major stock indexes all recorded declines. The Dow Jones Industrial Average fell about 1%, the Nasdaq fell 1%, and the S&P 500 fell about 0.5%. The Dow and the S&P 500 index ended the previous three consecutive weeks of rising prices, and the Nasdaq fell for the first week in five weeks. This week is the last week of October and the last trading week before election day on November 3.

   “Based on the stock market trends in the past two weeks, in our opinion, some major new news is needed to drive the stock market down sharply in the next one and a half weeks,” Miller Tabak Company Chief Market Strategist Matt Maley said in a report on Sunday.

   This week, investors will pay close attention to the latest developments in the US epidemic relief plan and the US election. Currently, former US Vice President Biden is still ahead of US President Trump in national opinion polls, but the gap between the two has narrowed slightly recently.

   U.S. House of Representatives Speaker Nancy Pelosi said that the House of Representatives may pass an epidemic relief plan next week, but it is still difficult to reach an agreement with the White House, and the Republican-led Senate may be elected on November 3 No action will be taken before the date.

   However, Pelosi and White House Chief of Staff Mark Meadows in an interview with CNN successively on Sunday accused each other of “changing the stimulus legislation”, reflecting why US lawmakers are so pessimistic about the agreement reached before the election .

   In addition, investors also need to pay close attention to the performance reports and key economic data of a large number of large technology companies and blue chip stocks. Apple, Facebook, Alphabet, Amazon, Boeing and Caterpillar will all release financial reports later this week, and the first report of the US GDP in the third quarter will be released on Thursday.

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