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US stocks set to open mixed on negative headlines over the weekend about the spread of Covid-19. Cases continued to increase in Florida, reaching more than 10,000 new cases on Sunday, while Los Angeles Mayor said the city was “on the brink” of imposing new strict measures to prevent the spread of the virus.
S&P 500 futures were down 6 points or 0.2%, while the Nasdaq fell 7 points or 0.1%, while the Dow Jones futures fell 31 points or 0.1%.
The spread of the Covid-19 continues to affect the market as oil prices fell on Monday as the number of COVID 19 cases continued to increase in the world, especially in the United States, which posed a threat to demand. US crude futures traded lower 0.8% to $ 40.41 a barrel, while Brent crude fell 0.8% to $ 42.78.
The energy sector will be one in a, particularly harsh spotlight. Oil and gas services company Halliburton announced a 46% drop in second-quarter revenue on the year Monday as firms cut back on drilling expenditures. Drillers cut the number of oil and natural gas rigs operating to a record for an 11th week in a row, Baker Hughes data showed on Friday.
