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US futures mixed amid growing concerns over global growth; Boeing shares set to fall

By Spriha Srivastava, CNBC–

U.S. stock index futures traded mixed on Monday morning with investors still digesting weak jobs data from the previous session.

At 3:00 a.m. ET, Dow futures were down about 84 points, pointing to a lower open of more than 30 points. Futures for S&P 500 and Nasdaq were trading slightly higher.

Last week, data showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017.

The data come amid growing concern about the global economy. Data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analyst expectations and wiping out a surprise jump in January.

These figures all came less than 24 hours after the European Central Bank slashed its growth forecasts for the euro zone and announced a new round of policy stimulus.

On Sunday, Fed Chair Powell told “60 Minutes” that he thinks the U.S. economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.

“I would say there’s no reason why this economy cannot continue to expand,” he said.

Boeing shares were down by nearly 9 percent in the premarket. This comes as its fastest-ever selling aircraft sparks safety concerns after an Ethiopian Airlines 737 MAX jet crashed shortly after takeoff on Sunday, killing everyone on board.

Meanwhile, investors will keep an eye on more data out Monday, with retail sales out at 8:30 a.m. ET and business inventories at 10:00 a.m. ET.

On the earnings front, Coupe Software and Stitch Fix are due to report after the bell.

By |2019-03-11T05:42:53+00:00March 11th, 2019|Economy|0 Comments

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