U.S. stock futures are down more than 1%, as oil is sinking once again, taking mining and energy shares with it. Chinese markets are falling, and Europe is firmly in the red.
Ahead of the opening bell, futures for the Dow Jones Industrials plummeted 300 points, or 1.8%, to 15,981, futures for the S&P 500 lost 34.75 points, or 1.8%, to 1,879.75. NASDAQ futures faded 84 points, or 2%, to 4,173.5
Anglo American is down another 8% in early trading. Shares of natural gas company ONEOK plunged nearly 6% after hours.
Fiat Chrysler shares are up 1% in Milan after heavy falls Thursday when it confirmed it is being sued by a U.S. dealer over claims the automaker tried to inflate sales figures. Fiat Chrysler flatly denies the allegations.
GE has agreed to sell its appliance business to China's Haier for $5.4 billion U.S.
Earnings from Wells Fargo, Citigroup, U.S. Bancorp, PNC, and BlackRock are expected ahead of the open.
This morning, a U.S. retail sales report for December 2015 is due from the Census Bureau, and the Bureau of Labor Statistics will have December's producer price index.
The Shanghai Composite closed down 3.6% Friday, more than 20% below its recent high. Persistent worries about China's cooling economy and sinking currency have pushed the index into bear market territory.
Oil prices sank $1.65 to $29.55 U.S. a barrel
Gold prices vaulted $9.98 to $1,088.36 U.S. an ounce.
Source: Baystreet US Market Commentary
(January 15, 2016 - 9:48 AM EST)
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