U.S. equity futuresare pointing to a lower open on Monday after manufacturing reports in Europe indicated growth was grinding to a halt.
Dow Industrial futures are 0.3 percent lower, S&P 500 futures are slipping 0.2 percent and Nasdaq futures are off 0.2 percent.
Concerns about those reports from Germany and France are again raising concerns abiout recession.
Optimism increased over the weekend as theUS and Chinareferred to last week’s trade talks as “productive” and “constructive.”
A higher-level round of talks is still scheduled to go ahead in October.
Wall Street ended last week with losses, snapping a 3-week winning streak for the S&P 500 after reports emerged that Chinese officials canceled a planned trip to farms in Montana and Nebraska.
|I: DJI||26935. 07||– 159. 72||– 0. 59%|
|(SP)||2992. 07||– 14. 72||– 0. 49 %|
|I: COMP||NASDAQ COMPOSITE INDEX||8117. 674437||– 65. 20||– 0. (%)|
The S&P 500 fell 0.5 percent, the Dow Jones Industrial Average dropped 0.6 percent and the Nasdaq lost 0.8 percent.
In Asian trading on Monday, the Shanghai Composite index closed down 1.1 percent while Hong Kong’s Hang Seng fell 0.8 percent after yet another weekend Tokyo’s markets were closed for a holiday.
Fosun Tourism Group, the biggest shareholder in Thomas Cook, fell 3.8 percent in Hong Kong after the 178 – year-old
Bookings for more than 600, 000 global vacationers were canceled Monday as
Shanghai-based Fosun International dropped 1 percent.
Britain’s Civil Aviation Authority said Thomas C ook’s four airlines would be grounded and its 21, (employees in) countries, including 9, 000 in the UK, will lose their jobs.
In Europe, London’s FTSE was off 0.2 percent, Germany’s DAX was down 1 percent and France’s CAC lost 0.7 percent.
The Associated Press contributed to this article.