Stock futures begin new week with declines on resurgence of coronavirus cases

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U.S. equity futures are pointing to losses to start the week on concerns about a rebound in cases of coronavirus.

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The major futures indexes are indicating a decline of 1.5 percent or more than 350 Dow points as of 12:02 a.m. ET.

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Shares are lower following the worst week for Wall Street in nearly three months.

Stocks are turning wobbly as investors re-evaluate their expectations for economic growth, which many skeptics have been saying were overly optimistic.

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Case numbers are still growing in various nations, including emerging economies, and without a vaccine, relaxing lockdowns and reopening travel could bring on further waves of COVID-19 cases.

In Asian markets on Monday, Japan’s benchmark Nikkei dropped 0.7 percent, Hong Kong’s Hang Seng slid 0.6 percent, while China’s Shanghai Composite was little changed.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 25605.54 +477.37 +1.90%
SP500 S&P 500 3041.31 +39.21 +1.31%
I:COMP NASDAQ COMPOSITE INDEX 9588.808163 +96.08 +1.01%

On Wall Street Friday, the S&P 500 rose 1.3 percent a day after dropping nearly 6 percent in its biggest rout since mid-March. It lost 4.8 percent for the week, snapping a three-week winning streak for the benchmark index.

The Dow Jones Industrial Average rose 1.9 percent and ended the week with a 5.6 percent loss after slumping nearly 7 percent on Thursday.

The Nasdaq, which climbed above 10,000 points for the first time on Wednesday, gained 1 percent.

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Benchmark U.S. crude oil lost $1.04 to $35.22 a barrel in electronic trading on the New York Mercantile Exchange. It fell 8 cents to settle at $36.26 a barrel Friday. Brent crude oil, the international standard, fell 74 cents to $37.99 a barrel.

The Associated Press contributed to this article.

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