US Stocks Open Lower as Dow Falls Over 100
On.cc · 1 SOURCESabout 2 hours ago2 MIN
Summary
US equities opened weaker on Monday, with all three major indexes in negative territory in early trading. The Dow Jones Industrial Average fell 146 points to 53,586, while the S&P 500 dropped 13 points to 7,772 and the Nasdaq slipped 7 points to 26,721. Hong Kong index futures traded at 25,386, down 37 points and at a 67-point discount. Even so, some strategists say easing inflation and generally solid earnings could still leave room for further gains in US stocks
Key Points
- Early Monday trading showed the Dow down 146 points to 53,586, the S&P 500 down 13 to 7,772, and the Nasdaq down 7 to 26,721
- Hong Kong night futures were quoted at 25,386, down 37 points, implying a 67-point discount to the cash market
- Goldman Sachs chief economist Jan Hatzius said cooling inflation makes a rate hike next month highly unlikely, despite market pricing remaining relatively hawkish
- Hatzius and his team cited weaker retail sales, a disappointing jobs report, and continued disinflation as reasons September tightening has become extremely unlikely
- Swiss private bank J. Safra Sarasin raised its year-end S&P 500 target to 8,200 and upgraded technology and industrials as preferred sectors
Why It Matters
For Hong Kong investors, the combination of softer US trading and a discount in local night futures points to cautious near-term sentiment at the start of the next session. At the same time, the debate over whether the Federal Reserve will stay on hold matters directly for Hong Kong markets because US rates, earnings momentum and AI-related risk appetite continue to shape global equity flows