S&P 500, Dow Jones, and Nasdaq futures all opened lower on Monday and continued to see losses as the morning went on. Nasdaq futures lead the way, dropping .4% with Dow Jones and S&P 500 futures both dropping .2%. The blame for this downward action can be blamed on the breakdown in trade talks between the U.S. and China as fears of an escalating trade war strengthen. As Investors.com reported, on Sunday, Beijing released a white paper saying it will not give in to higher tariffs and denied claims that they had stalled China trade talks.
Another potential culprit for these losses are the U.S.’ ongoing issues with Mexico. President Trump tweeted last week about his decision to impose a 5% tariff on goods imported from Mexico. What effects this will have remains to be seen.
Google, Amazon, and Facebook are stocks to watch this week as the Justice Department is set to launch an anti-trust probe into Google that could implicate all three companies. We’ll just have to wait and see how this all plays out.
E-Mini S&P 500 Jun ’19 Daily Chart