U.S. equity futures were lower Monday, putting Wall Street on track to take a breather after another positive week, as traders braced for big retail earnings.
Futures for the Dow Jones Industrials capsized 181 points, or 0.5%, early Monday to 33,537.
Futures for the S&P 500 moved lower 24.25 points, or 0.6%, to 4,256.75
Futures for the NASDAQ Composite swooned 56 points, or 0.4% at 13,521.75.
Monday’s moves come after disappointing economic data out of China overnight. The country’s central bank also cut rates unexpectedly, raising concern over China’s economic recovery.
Last week the S&P 500 advanced 3.3% to notch its fourth positive week in a row and its longest winning streak since 2021. The NASDAQ ended the week 3.1% higher, also for its fourth straight week. The Dow added 2.9%.
Investors are looking ahead to a week of earnings from big retailers including Home Depot, Walmart and Target, and listening for clues on how their businesses have been affected by inflation and other macro challenges in the most recent quarter.
In Japan, the Nikkei 225 index gained 1.1%, while in Hong Kong, the Hang Seng index slipped 0.7%,
Oil prices dipped $4.79 to $87.30 U.S. a barrel.
Gold prices fell $26.10 to $1,789.40 U.S. an ounce.
