Market Update: Futures Pointing to Positive Openings in the US and Europe
Futures for the S&P 500 and the Dow Jones Industrial Average are indicating a positive start in the US markets, with gains of 0.4% and 0.3% respectively. However, it is important to note that changes in futures do not always accurately predict market movements after the opening bell.
In European markets, the Stoxx Europe 600 has already climbed 0.6% in morning trading. Notable gainers include Vistry Group, which rose by an impressive 13.2%, and Uniper, which saw a rise of 3.6%. On the other hand, Alfa Laval slipped by 3.2%, and alstria office REIT experienced a loss of 2.7%. The FTSE 100 also added 0.6% to the positive momentum. Additionally, France’s CAC 40 recorded a gain of 0.6%, while Germany’s DAX climbed by 0.4%.
The Wall Street Journal Dollar Index dropped by 0.6% to reach 98.87.
Looking at commodities, Brent crude fell by a marginal 0.2% to $90.51 a barrel, while WTI crude dropped by 0.5% to $87.11 a barrel.
In terms of bond yields, the German 10-year Bund yield saw a slight increase of 2 basis points to reach 2.63%, compared to its previous level of 2.613%. Similarly, the yield on the 10-year US Treasury bond climbed by 2 basis points to 4.288% from its previous level of 4.271%. It is essential to remember that bond prices and yields move in opposite directions.
In Asia, stock market performances were mixed. Japan’s Nikkei 225 index declined by 0.4%, while Hong Kong’s Hang Seng experienced a decrease of 0.9%. Conversely, China’s benchmark Shanghai Composite gained 0.8%.