Stock futures fall slightly on Monday as Wall Street snaps four-week winning streak

An hour ago

European stocks start the week slightly in the red

European markets fell at the start of the new trading week, although sector moves remained subdued.

Oil and gas stocks fell 0.8% while retail rose 0.3%.

The Stoxx 600 index was 0.1% lower at 9:05 a.m. London time. The pan-European benchmark rose steadily in November and is on track for a monthly rise of more than 6%, its best month since January, according to LSEG data.

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Stoxx 600 index.

5 hours ago

Beijing Stock Exchange asks major shareholders of listed companies not to reduce their holdings: Portal

The Beijing Stock Exchange has urged major shareholders of listed companies not to reduce their holdings even if they are entitled to do so, Portal reported.

Citing people familiar with the matter, Portal said this was due to fears that such moves could “dampen market excitement.”

According to LSEG data, the Beijing Stock Exchange 50 Index has been largely in an upward trend since October, recording a one-month gain of 44.72% and a three-month gain of 44.75%.

According to Portal, these gains came as stock prices rose on supportive policies.

The Beijing Stock Exchange and the China Securities Regulatory Commission did not immediately respond to Portal’ requests for comment.

—Lim Hui Jie, Portal

7 hours ago

China’s real estate stocks fall amid Zhongzhi investigation

Hong Kong-listed Chinese real estate stocks fell on Monday, leading to declines in other sectors on Monday.

Shares of real estate developers such as Logan Group, China Vanke, Sunac and Longfor Group fell between 4% and 8%.

The Hang Seng Mainland Properties Index, which includes residential property companies, fell 3.51%.

It was reported over the weekend that Beijing police were investigating the indebted Chinese shadow bank Zhongzhi Enterprise Group.

Zhongzhi declared bankruptcy in a letter to its investors last week.

China’s CSI 300 index fell 1.19%, leading declines among major Asian markets.

8 hours ago

China’s industrial profits fell at their slowest pace in almost a year from January to October

Workers gather at a workshop of an equipment manufacturer on Yunmenshan Street in Qingzhou city, east China’s Shandong province, August 9, 2023.

Cost photo | Photo only | Getty Images

China’s industrial profits continued to decline in November, but at their slowest pace in nearly a year, government data showed.

The results showed that profits at industrial companies in China fell 7.8% in the January-October period from a year earlier, marking the slowest decline since December 2022.

The decline was smaller than the 9% decline recorded in September.

The data underscores China’s uneven recovery from the pandemic and the need for further stimulus measures to boost market confidence.

China’s CSI 300 index fell 0.75% minutes after opening following the release of the data.

– Shreyashi Sanyal

9 hours ago

Jun Ohta, CEO of Sumitomo Mitsui Financial Group, dies at 65

Jun Ohta, CEO of Sumitomo Mitsui Financial Group, died on Saturday at the age of 65, the Japanese financial group said.

SMFG announced Monday that Deputy President Toru Nakashima will take over Ohta’s duties for the time being.

The company also added that it will select a successor and will announce the decision “in a timely manner.”

11 hours ago

Futures open slightly lower

US stock futures were slightly lower on Sunday evening.

Shortly after 6 p.m. ET, Nasdaq 100 futures fell about 0.2%. Futures for the S&P 500 and the Dow Jones Industrial Average were each down about 0.1%.

–Jesse Pound

12 hours ago

Last week in numbers

Wall Street was largely positive during the shortened Thanksgiving trading week. Here are the numbers for the key averages:

  • The Dow gained 1.27% for the week, its fourth consecutive positive week.
  • The S&P 500 rose 1.00% this week, its fourth consecutive positive week
  • The Nasdaq Composite gained 0.89% for the week, its fourth consecutive positive week
  • The Russell 2000 small-cap index rose 0.54% for the week, marking its second consecutive positive week

—Jesse Pound, Christopher Hayes