| NEW YORK
NEW YORK Jan 29 U.S. equity index futures
opened down about 0.2 percent on Sunday after U.S. President
Donald Trump on Friday introduced immigration curbs that sparked
a backlash in the United States and abroad.
Trump put a 120-day hold on allowing refugees into the
country, an indefinite ban on refugees from Syria and a 90-day
bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria
and Yemen. Several countries including long-standing American
allies criticized the measures as discriminatory and
"Stocks may react negatively for two reasons," said David
Kotok, chairman and chief investment officer of Cumberland
Advisors. "First the market has gone up strongly since the
election. So it is ripe for a correction and is extended in
"For these current market prices to be justified, the Trump
agenda must unfold perfectly," Kotok said. "But the reverse is
under way and fragmented policy combined with obfuscation is now
a growing detriment to growth acceleration."
S&P e-mini futures < ESv1> were last down 0.3 percent as
electronic trading kicked off for the week at 6 p.m. EST (2300
GMT). Dow and Nasdaq futures were also down about
0.2 percent each.
The weakness in stocks came as safe-haven Treasuries opened
fractionally stronger. U.S. 10-year Treasury futures were
last up about 0.01 percent on Sunday evening in electronic
The U.S. dollar weakened slightly against the euro
and yen, and the U.S. Dollar Index was lower by
about 0.1 percent.
Oil prices also slipped at the open, with U.S. crude oil
futures trading 0.4 percent lower.
(Reporting by Devika Krishna Kumar and Megan Davies in New
York; Editing by Peter Cooney)