Dow futures fell more than 100 points today, indicating Wall Street will be lower tonight. After China revealed retail sales slowed more than analysts had expected.
At 8:15 p.m. Thai time, the Dow Jones Industrial Average dropped 121 points, or 0.34%, to 35,299 points.
Stocks that benefit from the opening of the economy, such as cruise ships and airlines. They fell in pre-market trading.
China’s July retail sales grew only 8.5 percent year-on-year. It was 11.5% below forecast and 12.1% in June.
The National Bureau of Statistics (NBS) said the Chinese economy was still affected by the new outbreak of the coronavirus. including flood disasters causing the economic recovery to destabilize
In addition, investors are concerned that The Federal Reserve (Fed) may announce next month on a timeline for a cut in its quantitative easing (QE) bond-buying program and will begin a QE cut in October.
Wall Street stocks rose last week. This was driven by strong earnings announcements. Among the companies in the S&P 500 index, which reported second-quarter earnings, 87% reported higher-than-expected profits. This is the highest level since FactSet began collecting such data in 2008.
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