Futures Drop As The USD Rises Against The  GBP

Prior to the opening bell on Monday, Wall Street futures indicated that stocks would decline as a stronger dollar and higher bond yields took center stage. The Dow Jones futures were down 0.64% as of 1230 BST, while the S&P 500 and Nasdaq-100 futures indicated that their indices would open 0.70% and 0.60% lower, respectively.

Fears that the US economy may enter a recession as a result of the central bank's aggressive monetary policy caused the Dow to conclude the day 486.21 points lower on Friday.

News that the British pound had fallen to an all-time low against the US dollar at the start of Monday was in the spotlight. Sterling fell 4% to $1.0382, a record low, as the Federal Reserve's monetary policy and tax cuts promised by the UK last week drove the greenback to surge.

Investor focus on the bond market increased before the bell, as the benchmark 10-year Treasury note and the 2-year Treasury note both increased by more than seven basis points to 4.287% and 3.763%, respectively.

At 1330 BST, the Chicago Fed will release its national activity index for August. At 1500 BST, 1700 BST, and 2100 BST, respectively, the Boston Fed's Susan Collins, the Atlanta Fed's Raphael Bostic, and the Cleveland Fed's Loretta Mester will give presentations.

On Monday, no significant business earnings report was scheduled.