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Stock futures signal weaker Wall Street open

Stock futures pointed to a sharply lower open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 1.1 to 1.4 percent.

(REUTERS) -- The Republican and Democratic leaders of a 12-member congressional "super committee" are set to declare defeat in their attempt to find at least $1.2 trillion in budget savings over 10 years after three months of talks failed to bridge deep divides over taxes and spending.

The Federal Reserve Bank of Chicago releases at 1330 its Chicago Fed National Activity Index for October. The index read -0.22 in the prior month.

National Association of Realtors (NAR) will release at 1500 GMT existing home sales for October. Economists forecast a 4.8 million annualized unit total in October versus 4.91 million annualized units in September.

On the earnings front, companies announcing results include Hewlett-Packard (HPQ.N) and Tyson Foods (TSN.N).

Chinese Vice-Premier Wang Qishan warned on Monday the global economy was in a grim state and that an "unbalanced recovery" might be the best option, at talks where senior U.S. officials said the mood at home toward China was souring.

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People waving Argentinian flags

December 18, 2022, Buenos Aires, Argentina. Argentinian fans celebrating their World Cup victory.

Roberto Tuero / SOPA Images via ZUMA Press Wire
Ignacio Pereyra

“I’m overwhelmed and I’m not even Argentinian — happy to see people happy,” a friend who lives in Greece, where his partner is from, wrote to me. My friend, who is half-German and half-American, was moved by the jubilant images of millions of people celebrating in the streets of Argentina after Lionel Messi lifted the World Cup in Qatar.

His message came to me while I was reading about how the title might or might not affect the country and its people, but, above all, as I was also asking myself something simpler: Why are Argentine fans so happy — even weeks after winning the World Cup?

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