(MENAFN- ProactiveInvestors - UK)
The Dow Jones has opened some 125 points lower 0.75% at 16340 on Monday as oil prices backed off last week's short lived rally.
West Texas Intermediary crude at around US$32.50 per barrel was down 3.5% while the price of Brent lowered 2.5% to just above US$35.
The S&P 500 started down about 10 points 0.5% at 1929 and the Nasdaq Composite lost 23 points or 0.54% to 4587.
Wall Street seen lower before opening bell
The rallied that ended January is expected to have cooled as Wall Street kicks off February.
An easing in the crude price softer European equities and further alarm bells in China have all played a part in denting last Friday's enthusiasm.
West Texas Intermediary crude futures fell about 1.5% to trade just above US$33 per barrel while Brent moved 0.5% lower to US$35.80.
Chinese factory activity dipped in January according to new statistics and subsequently Chinese equities felt the impact. The Shanghai Composite dropped nearly 1.8% on Monday to 2688 and Hong Kong's Hang Seng was down 0.45%.
Elsewhere Japan's Nikkei rallied a further 2% following last week's shock negative interest rate decision.
In Europe London's FTSE 100 gave up 0.3% to 6064 while Germany's DAX was down 0.6% and the French fell around 0.5%.
New York's famous benchmarks are meanwhile are also expected to start Monday lower.
Dow Jones futures currently indicate a 55 point decline to 16304 while S&P 500 futures are down 7 points at 1923 and the Nasdaq is 14 points lower at 4248.
Attention will be on the latest releases in the US earnings season. This morning the notable results are expected from health care firm Aetna (NYSE:AET) and food distributor Sysco (NYSE:SYY) which both have figures out before the opening bell in New York.
Later today meanwhile the spotlight will be on Google's parent Alphabet (NASDAQ:GOOG NASDAQ:GOOGL) which is expected to report in after market hours.
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