Futures Poised For Lower Open As Recession Fears Intensify

  1. U.S. futures poised to open lower

Stock futures pointed to a lower open on Monday as concerns over the outlook for the global economy and a U.S. recession continued to weigh on investor sentiment. At around 6:52 a.m. ET, futures on the blue-chip Dow fell 7 points, or 0.03% to 25,563.

Futures on the tech-heavy futures dropped 22.75 points, or 0.31% to 7,346.00. Meanwhile, those on the NASDAQ 100 were down 1.63 points, or 0.06%, to 2,809.12.

The selloff witnessed in U.S. stock markets on Friday after treasury yield curve inverted for the first time since 2007, spread across Asia today. China’s Shanghai Composite declined 3%, while Japan’s Nikkei fell 2%.

  1. Apple set to unveil video and news-subscription service today

Apple will hold its long-awaited press event today during which it plans to unveil a new video streaming service and news subscription service. The yet-to-be-named streaming service is expected to take on rivals such as Amazon Prime Video, Netflix, and Hulu.

On Sunday, the Wall Street Journal reported that the service will offer subscriptions to channels like Starz, HBO, and Showtime for $9.99 per month each. Apple’s news subscription service, on the other hand, will offer access to premium articles and magazines for a flat monthly fee.

Reports also suggest that the tech giant might announce a game subscription service at the event set to take place in Cupertino, California. You can live stream the event starting 1 p.m. ET on Apple’s site at apple.com/apple-events/livestream.

Apple (NASDAQ: AAPL) shares were little changed in premarket trading on Monday. The stock lost $4.04, or 2.07% on Friday to end the week at $191.05.

  1. Trump campaign cleared of conspiring with Russia

U.S. Attorney General William Barr summarized the findings of special counsel Robert Mueller’ report on Sunday. Barr said that Mueller had not found that Trump campaign associates had conspired or coordinated with the Russian government to influence the 2016 presidential election.

The report, which remains in the hands of the Attorney General, marks the conclusion of an inquiry that began months before the election of Trump, when law enforcement agencies began garnering clues that made them wary of his campaign aides.

  1. Boeing testing software upgrade to 737 Max 8 jets

Pilots from three U.S. airlines that fly Boeing’s 737 Max 8 passenger jets have tested software changes developed by the aerospace giant to a key stabilization system, CNN reports, citing a person briefed on the tests.

Boeing has also invited regulators, technical leaders, and more than 200 airline pilots for an information session scheduled for Wednesday as company looks to return the 737 Max fleet to commercial service.

Boeing Co (NYSE: BA) shares, which closed down 2.83% on Friday at $362.17, were little changed in premarket trade.