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Nasdaq, Dow Jones and S&P Futures Point to a Weak Start

Nasdaq 100

Futures contracts in Wall Street pointing to a weak opening in cash markets as President Donald Trump yesterday threatened to increase tariffs even further on Chinese products if a deal is not reached. The US Housing starts increased by 3.8% in October to a rate of 1.314 million units; the Building Permits jumped by 5.0% to a rate of 1.461 million units.

The Dow Jones Industrial, Nasdaq, and S&P 500 futures trading close to daily lows as traders await later today the FOMC latest policy meeting minutes, which might provide fresh clues as to how Fed members feel about monetary policy ahead of the final FOMC meeting in December.

Asian indices ended lower, Nikkei 225 retreated on weak export data, while Nifty 50 ends higher but failed to clear the 12,000 mark. European stock indices are trading close to daily highs supported by optimism that trade negotiations will end with an agreement. DAX is 1.00% higher at 13,337, CAC 40 trading 0.35% higher at 0.35%. In London the FTSE 100 is in the red as trade war concerns loom.

In commodities markets, Gold trades higher but prices need to break above $1,476 to attract the bulls. Crude Oil prices move lower on Russia and risk aversion.

Cryptocurrencies continue lower for one more day approaching critical support levels, Bitcoin is under pressure but above 8,000, while Ethereum is 0.38% lower at 174,98.