Investing.com - U.S. futures pointed to a lower open on Monday as a combination of concerns over rising U.S. yields, trade conflict and rising geopolitical risks weighed on market sentiment.
The blue-chip Dow futures fell 87 points, or 0.34%, by 7:07 AM ET (11:07 GMT), the S&P 500 futures lost 12 points, or 0.42%, while the tech-heavy Nasdaq 100 futures traded down 53 points, or 0.73%.
Even though U.S. stocks finished almost 300 points higher on Friday, they ended with weekly losses of around 4% as worries about the impact of a U.S.-China trade war, a spike in U.S. bond yields and caution ahead of the earnings season all dampened sentiment.
Investors were also on edge as diplomatic tensions escalated between Saudi Arabia and the West over the disappearance of journalist Jamal Khashoggi, who was a prominent critic of Riyadh's policies.
In earnings news, Bank of America (NYSE:BAC) reported earnings that beat consensus.
Charles Schwab (NYSE:SCHW) was also slated to release quarterly results ahead of the opening bell.
In other company news, Sears Holdings filed for bankruptcy early Monday after years of staying afloat through financial maneuvering, and announced that Eddie Lampert will be stepping down as CEO, effective immediately, although he remains its chairman.
On the economic front, the focus will be on September retail sales with economists forecasting a 0.7% after a meager 0.1% gain seen in the previous month.
Also released at 8:30 AM ET (12:30 GMT), the New York Fed’s Empire State manufacturing reading for the month of October will be watched for any signs any impact tariffs are having on the sector.
Meanwhile, oil prices were higher to start the week, as geopolitical tensions over the disappearance of the Saudi journalist stoked supply worries.
Safe haven assets also received a boost from risk-off sentiment with gold futures gaining more than 1%, while the Japanese yen and Swiss franc were also higher.