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Saturday, July 31, 2021

U.S. Stock Futures Tick Higher

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U.S. stock futures ticked up, suggesting Wall Street could stage a partial recovery after worries about the Delta variant of the coronavirus dragged major indexes lower.

S&P 500 futures gained 0.6% and Dow Jones Industrial Average futures strengthened 0.8%. Changes in equity futures don’t necessarily predict market moves after the opening bell.

European stocks climbed Tuesday after a four-session losing streak. The Stoxx Europe 600 added 1% in morning trade, led by gains in energy and utilities sectors.

BP jumped 2.1% snapping a losing streak of more than a week and SSE rose 2%.

The U.K.’s FTSE 100, which is dominated by large international businesses, climbed 1.1%. Other stock indexes in Europe also mostly climbed as France’s CAC 40 gained 1.2%, the U.K.’s FTSE 250 rose 0.7% and Germany’s DAX added 1%.

The euro and the British pound dropped 0.2% against the U.S. dollar whereas the Swiss franc was flat against the U.S. dollar, with 1 franc buying $1.09.

In commodities, international benchmark Brent crude was up 1.2% to $69.43 a barrel. Gold also gained 0.4% to $1,816.60 a troy ounce.

The German 10-year bund yield declined to minus 0.396% and the yield on 10-year U.K. government debt known as gilts was down to 0.553%. The yield on 10-year U.S. Treasury rose to 1.214% from 1.181%. Yields move in the opposite direction from prices.

Indexes in Asia mostly fell as Hong Kong’s Hang Seng lost 1.2%, Japan’s Nikkei 225 index was down 1%, and China’s benchmark Shanghai Composite shed 0.1% after falling by as much as 0.8% during the session.

A trader worked on the floor of the New York Stock Exchange on Monday.



Photo:

Richard Drew/Associated Press

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