Dow Futures Fall 370 Points; Rising Covid Cases Weigh on Sentiment By Investing.com – Investing.com

  • Date: 19-Jul-2021
  • Source: Investing.com
  • Sector:Healthcare
  • Country:Gulf
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Dow Futures Fall 370 Points; Rising Covid Cases Weigh on Sentiment By Investing.com – Investing.com

© Reuters.

By Peter Nurse   



Investing.com - U.S. stocks are seen opening sharply lower Monday, continuing last week’s negative tone amid concerns about rising Covid cases while the quarterly corporate earnings season continues.



At 7 AM ET (1100 GMT), the contract was down 370 points, or 1.1%, traded 30 points, or 0.7%, lower and dropped 55 points, or 0.4%.



The major indices last week recorded their first negative in four, with the falling 0.5%, the dropping 1%, and the falling 1.9%, its worst week since May.



Rising numbers of U.S. Covid-19 cases are now weighing on sentiment, with the Delta variant now the dominant strain worldwide. U.S. cases were up 70% last week over the previous week and deaths are up 26%, with outbreaks occurring mainly in parts of the country with low vaccination rates, Rochelle Walensky, director of the U.S. Centers for Disease Control and Prevention, said on Friday.



The seven-day-average number of daily cases is now more than 26,000, more than twice its June low of around 11,000 cases, according to CDC data, with the greatest uptick in cases occurring in Arkansas, Florida, Louisiana, Missouri and Nevada - all states with