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New
infections touched record levels in the United States over the
weekend with El Paso in Texas asking citizens to stay at home
for the next two weeks.
Travel-related stocks that are vulnerable to COVID-19 news
including American Airlines <AAL.O> and Booking Holdings Inc <BKNG.O>
fell 3% and 2%, respectively, before the bell.
Wall Street's main indexes finished last week lower as investors
closely monitored talks over the next round of fiscal package,
while economic data pointed at a stalling recovery.
U.S. House Speaker Nancy Pelosi on Sunday said the Trump
administration was reviewing the latest proposal for COVID-19
relief over the weekend and that she expected a response on
Monday.
Meanwhile, more than 59.1 million Americans have already voted
in person or by mail as President Donald Trump and Democratic
challenger Joe Biden enter their final full week of campaigning.
It is also one of the busiest week of third-quarter earnings
season that will see results from mega-cap U.S. tech firms
including Apple Inc <AAPL.O>, Amazon.com Inc <AMZN.O>,
Google-parent Alphabet Inc <GOOGL.O> and Facebook Inc <FB.O>.
Of the 135 companies in the S&P 500 that have reported earnings
so far, 83.7% of them have beaten Wall Street expectations,
according to Refinitiv data.
At 06:23 a.m. ET, Dow E-minis <1YMcv1> were down 0.9% at 27,933
points and S&P 500 E-minis <EScv1> fell 0.91% to 3,420.25
points. Nasdaq 100 E-minis <NQcv1> shed 0.79% at 11,571.5
points.
(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)
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