.S. equities were looking at a potentially downbeat start to the week, as stock futures tumbled Monday on weaker-than-expected China trade data that has sparked fresh concerns over a global economic slowdown.
How are major benchmarks faring?
Dow Jones Industrial Average futures YMH9, -0.93% slid 172 points, or 0.7%, to 23,778, while S&P 500 futures ESH9, -0.97% fell 19.10 points, or 0.7%, to 2,576.25. Nasdaq-100 futures NQH9, -1.24% dropped 59 points, or 0.9%, to 6,553.75.
On Friday, The Dow Jones Industrial Average DJIA, -0.02% fell 5.97 points to 23,995.95, while the S&P 500 index SPX, -0.01% slipped 0.38 point to 2,596.26. The Nasdaq Composite Index NQH9, -1.24% shed 14.59 points, or 0.2%, to 6,971.48.
For the week, the Dow rose 2.4%, the S&P 500 gained 2.5%, and the Nasdaq rallied 3.5%.
What’s driving the market?
Appetite for perceived riskier assets such as stocks took a hit Monday, after data showed weak China imports and exports for December, which underpinned worries of a slowdown in the global growth engine. And China’s trade surplus with the U.S. soared to a fresh record of $323.32 billion in 2018, while the two countries continue to try resolving those differences.
Earnings season will kick off on Monday, with Citigroup Inc. C, +0.44% scheduled to report ahead of the bell. J.P. Morgan Chase & Co. JPM, -0.48% , Wells Fargo & Co. WFC, +0.25% , BlackRock, Inc. BLK, -0.40% , Goldman Sachs Group Inc. GS, +0.53% and Netflix Inc. NFLX, +3.98% are a few of the other big companies due to report this week.
Investors are jittery ahead of the start of the fourth-quarter