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Dow Futures 135 points lower; weight of Chinese clampdown by Investing.com

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Peter Nurse

Investing.com-US stocks are expected to fall from record highs ahead of the Federal Reserve Board meeting and weekly earnings from major tech companies.

At 7:10 AM ET (1110 GMT), contracts fell 135 points (0.4%), 12 points (0.3%) and 25 points (0.2%).

All three major stock indexes closed at record levels on Friday, but retreated on Monday as the Chinese government continued to crack down on a wide range of economies, squeezed by sharp losses in Asia. It is expected that. It announced plans to reform the country’s education technology sector over the weekend and also fired warning shots across the bow on Monday.

This crackdown on Chinese tech companies continues to put pressure on American Depositary Receipts and, by extension, Wall Street as a whole, but there are signs that investors have returned from Chinese tech companies to US tech companies.

This week will be one of the busiest weeks in the earnings report, with the tech sector in the spotlight, especially after the recent shift from refre trading to growth stocks.

Tesla (NASDAQ :) will be released on Monday after its release number, Apple (NASDAQ :), Alphabet (NASDAQ :), Microsoft (NASDAQ :) will be released on Tuesday, followed by Facebook (NASDAQ :) and Amazon (NASDAQ :). :) Will be released. In a week.

Amazon will also focus on Monday, with speculation that online retailers are exploring an adventure into digital currencies after advertising a lead vacancy in digital currency products last week.

Apart from revenue, the Federal Reserve Board will hold two days ending this Wednesday. Central bank policymakers began discussing when to start cutting large-scale bond purchase programs last month. Investors are looking for more information on this issue, especially given the trends in economic growth and inflation above.

The only notable data release on Monday is 10am (Eastern Standard Time), which is expected to recover from June’s 11-month lows. However, it’s a highlight of Thursday’s first look at US growth in the second quarter, with many significant releases throughout the week. Newswires previously reported that Goldman Sachs (NYSE :) has significantly lowered its growth forecast for the second half of the year. This is partly due to the resurgence of the Covid-19 epidemic in the United States. The number of new cases reached its highest in the three months of the weekend.

Elsewhere, oil prices fell on Monday after a slight rise over the last week in reports that China has lowered official diesel and gasoline prices.

At 7:10 am ET, futures fell 0.6% to $ 71.66 a barrel, while contracts fell 0.5% to $ 73.08.

In addition, it traded at $ 1,809.55 / oz, up 0.4%, but at 1.1795, up 0.2%.

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Dow Futures 135 points lower; weight of Chinese clampdown by Investing.com

https://www.investing.com/news/stock-market-news/dow-futures-135-pts-lower-chinese-clampdown-weighs-2567761 Dow Futures 135 points lower; weight of Chinese clampdown by Investing.com

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