US Futures and European Stocks Down as Investors’ Expectations of Further Interest-Rate Hikes Harden on U.S. Data

In the U.S. futures for the S&P 500 were down 0.4% and futures for the Dow Jones Industrial Average fell 0.3%. Changes in futures do not necessarily predict movements after the opening bell.

In Europe, the Stoxx Europe 600 declined 0.3% in morning trading. Orpea rose 4% and Entra rose 3.3%. On the other hand, Scout24 sunk 5.1%, and Samhaellsbyggnadsbolaget slipped 3.8%. The FTSE 100 was flat. Other stocks in Europe were down as France’s CAC 40 declined 0.2% and Germany’s DAX dropped 0.1%.

The Wall Street Journal Dollar Index climbed 0.2% to 97.01.

In commodities, Brent crude fell 0.8% to $77.84 a barrel, and WTI crude fell 0.8% to $73.25 a barrel.

The German 10-year Bund yield declined by 0.2 basis points to 2.634% from 2.636%, and the yield on the 10-year U.S. Treasury declined by 0.2 basis points to 4.066% from 4.068% Bond prices and yields move in opposite directions.

Stocks in Asia were mixed as Japan’s Nikkei 225 index dropped 0.6%, whereas Hong Kong’s Hang Seng gained 0.7%. China’s benchmark Shanghai Composite climbed 0.2%.

Source: Dow Jones Newswires


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