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Tuesday, August 3, 2021

U.S. Stock Futures Waver With More Bank Earnings Due

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U.S. stock futures were flat ahead of another group of earnings reports from major banks.

Futures on the S&P 500 and futures on the Dow Jones Industrial Average were both nearly unchanged. Changes in futures don’t necessarily predict moves after the markets open.

European stocks declined Wednesday after a three-session winning streak. The Stoxx Europe 600 was lower 0.2% in morning trade as gains in financials and energy sectors were muted by losses in consumer staples and utilities sectors.

The U.K.’s FTSE 100 lost 0.4%. Other stock indexes in Europe also mostly fell as France’s CAC 40 shed 0.2%, the FTSE 250 was down 0.4% and Germany’s DAX shed 0.2%.

The euro and the British pound were up 0.1% and 0.2% respectively against the U.S. dollar and the Swiss franc was mostly flat against the U.S. dollar, with 1 franc buying $1.09.

In commodities, international benchmark Brent crude was down 0.1% to $76.41 a barrel. Gold gained 0.1% to $1,811.80 a troy ounce.

The yield on German 10-year bunds rose to minus 0.276% and 10-year gilts yields were up to 0.670%. 10-year U.S. Treasury yields fell to 1.403% from 1.415%. Yields move inversely to bond prices.

In Asia, indexes mostly fell as Hong Kong’s Hang Seng was lower 0.7%, Japan’s Nikkei 225 index lost 0.4%, and China’s benchmark Shanghai Composite lost 1.1%.

Wall Street indexes fell on Tuesday after a higher-than-expected consumer price report.



Photo:

brendan mcdermid/Reuters

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