Dow Jones Industrial Average futures slightly declined on late Sunday, a modest pullback after a strong run from mid-March lows.
DJIA contracts shed 0.05% or 19.00 points to the 34,699.00 mark, snapping a two-week winning streak. Then, futures tied to the S&P 500 skidded 0.02% or 0.75 points to the 4,538.00 mark.
At the same time, the Nasdaq Composite slipped 0.12% or 17.75 points to the 14,846.50 mark.
The US stocks rose last Friday, the first day of the second quarter. The DJIA and S&P gained 0.4% and 0.34%, respectively. The Nasdaq also added 0.29%, closing in the green territory.
Accordingly, the previous positive session came despite the downbeat March employment report.
The US economy added 431,000 jobs during the month, while estimates from Dow Jones called for 490,000. The latest labor report also fell from the 750,000 result in February.
Meanwhile, US-listed Chinese stocks benefited from a report that Beijing would give American auditing regulators access to those companies’ books.
On Saturday, China’s securities regulator said that it would release revised regulations for firms listed overseas.
However, the widening health restrictions, including Shanghai’s extended shutdown, could further pull down the market.
Subsequently, the 25.00 million residents of the financial hub are now under lockdown. The state media also reported a new subtype of the omicron variant.
In the stated case, this could significantly impact production and demand, hitting Chinese stocks.
The DJIA traded flat today as investors also monitor the latest developments in the geopolitical crisis between Russia and Ukraine.
German Chancellor Olaf Scholz mentioned that Western nations would impose additional sanctions on Moscow in the near term.
DJIA down; Tesla near buy points
Despite the lower trading of DJIA, Tesla reported record first-quarter deliveries on Saturday.
Its Q1 global deliveries increased to 310,048, above the analysts’ estimate of 309,000. It also edged higher than the record 308,600 last quarter.
The report includes 295,324 Model 3 and Model Y vehicles and 14,218 Model S and X units.
However, its factories in Shanghai would remain closed through at least April 04 due to the city’s lockdown.
Nevertheless, the EV giant gained 0.59% or 6.41 points to $1,091.00 per share in the extended reading, nearing possible buy points.
Likewise, Chinese EV titan BYD reported monthly sales above 100,000 for the first time. It added 0.10% or 0.06 points of $57.85 per share.
Read also: The Investment Center review | Should you choose?
