
U.S. stock futures were mostly flat early Monday ahead of key inflation data, with PPI due Wednesday and CPI Thursday. U.S. markets closed lower Friday after weak NFP jobs data raised economic concerns while supporting Fed rate cut expectations in September. The S&P 500 fell 0.3%, the Nasdaq dipped 0.03%, and the Dow dropped 0.5% to 45,400
All three indices had reached record intraday highs earlier Friday, with gains of 0.5%, 0.8%, and 0.3% respectively.
Today, Dow Jones Futures fell 0.04%, S&P 500 futures declined 0.1%, and Nasdaq 100 futures also declined.
In the commodities market, oil prices edged higher after OPEC+ slowed production increases to 137,000 barrels daily in October, down from around 555,000 bpd in previous months. Brent crude rose 0.5% to above $62, while WTI futures gained 0.6% to $65.90.
Gold hit a record high of $3,600 on Friday after weak August jobs data increased September Fed rate cut expectations. The precious metal has gained over 30% this year, initially climbing above $3,500 amid US tariff-related trade tensions before stabilizing around $3,400. Recent rate cut expectations have revived its safe-haven appeal.
China’s shipments to the U.S. fell 33% in August while overall exports growth hit a six-month low, driven by Trump’s tariffs. U.S. imports dropped 16% year-over-year, according to the latest customs data.
China has diversified to other markets including Southeast Asia, EU, Africa and Latin America as Trump’s trade policies impacted U.S.-bound exports.
Asia-Pacific markets rose Monday as investors reacted to Japan PM Ishiba’s resignation and regional economic data. Japan’s Nikkei 225 gained 1.5% after the prime minister resigned following pressure over his election defeat. The Topix rose 1% to a record.
Hong Kong’s Hang Seng gained 0.23%, while China’s CSI 300 fell 0.3% after August exports grew 4.4%, below 5.0% forecasts. Imports also underperformed amid property sector troubles.
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