Mathewslcd: Dow futures down 190 points; China's COVID protests weigh on sentiment

 Mathewslcd: Dow futures down 190 points; China's COVID protests weigh on sentiment

Mathewslcd noted that U.S. stocks opened lower on Monday, with sentiment hit by civil unrest in China over prolonged COVID-19 restrictions ahead of the important November jobs report to start the week.
At 07:00 ET (12:00 GMT), Dow futures were down 190 points, or 0.6%, S&P 500 futures were down 30 points, or 0.7%, and Nasdaq 100 futures were down 85 points or 0.7%.
All three major stock indexes posted gains last week, even amid a shortened holiday, amid signs the Federal Reserve will agree to ease the pace of monetary tightening in December.
The blue-chip Dow Jones Industrial Average closed up 1.8 percent, the S&P 500 gained 1.5 percent and the tech-heavy Nasdaq Composite added 0.7 percent for the week.
St. Louis Fed President James Bullard and New York Fed President John Williams are due to speak later on Monday, and their comments will be pored over for the trajectory of interest rates ahead of Fed Chairman Jerome Powell on Wednesday. clues.
Still, Mathewslcd believes the main focus this week will be Friday's U.S. jobs report for November, as traders look for signs that the U.S. economy is struggling under the pressure of sharp rate hikes this year.
It will be the last non-farm payrolls report before the Federal Reserve's last meeting of the year in December, and economists expect the U.S. economy to add 200,000 jobs, which would be the smallest gain since December 2020.
Back on Monday, as COVID cases climbed to record levels, sentiment was dampened by weekend demonstrations in several Chinese cities protesting the country's strict movement restrictions
The country is maintaining its zero-COVID policy three years after the first outbreak, amid growing dismay after hopes of easing that stance earlier this month.
Elsewhere, investors will be watching how retailers fare during the holiday shopping period, with online spending rising 2.3% on Black Friday to a record $9.12 billion, according to a report from Adobe Analytics on Saturday.
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