Stocks open lower on global unrest; data eyed

Getty Images Traders on the floor of the New York Stock Exchange.

Getty Images
Traders on the floor of the New York Stock Exchange.

U.S. stocks opened lower on Monday after protests in Hong Kong rattled global markets, while investors looked ahead to a week of economic reports.

“It’s a familiar story of global usurping steady economic growth in the U.S,” Art Hogan, chief market strategist at Wunderlich Securities said. “On the way to Friday we’ve got a host of things that could move markets around.”

The German DAX fell more than 1 percent on Monday, well below its 50-day moving average.

Earlier, futures were also down about 1 percent with investors cautious after Friday’s rally, and global markets rattled by Hong Kong’s worst protests in decades.

Futures were little changed after reports that personal income rose 0.3 percent in August, as expected.

U.S. stocks rose sharply on Friday, cutting losses for the week, after the government raised its estimate of economic growth in the second quarter and consumer sentiment rose in September.

The rally boosted Europe and other stock markets, but sentiment was hit after pro-democracy protest in Hong Kong intensified over the weekend. Riot police fired rounds of tear gas and demonstrators continued to block roads on Monday, leading schools and banks to close.

Read More No rest for the volatility-weary on Wall Street

Symbol
Name
Price
Change
%Change
DJIA Dow Jones Industrial Average 16953.06
-160.09 -0.94%
S&P 500 S&P 500 Index 1965.46
-17.39 -0.88%
NASDAQ Nasdaq Composite Index 4466.25
-45.94 -1.02%

On tap this week:

Monday

10:00 a.m.: Pending home sales

10:30 a.m.: Dallas Fed survey

Tuesday

Earnings: Walgreen

9:00 a.m.: S&P/Case-Shiller home prices

9:45 a.m.: Chicago PMI

10:00 a.m.: Consumer confidence

Wednesday

Earnings: Accuity Brands

Monthly vehicle sales

8:15 a.m.: ADP employment

10:00 a.m.: ISM manufacturing

10:00 a.m.: Construction spending

Thursday

Earnings: Constellation BrandsMcCormick, Actuant, Global Payments

8:30 a.m.: Initial claims

10:00 a.m.: Factory orders

Friday

8:30 a.m.: Employment report

8:30 a.m.: International trade

10:00 a.m.: ISM nonmanufacturing

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