Market Overview

Futures Climb With Stocks Amid Pickup in Earnings

U.S. equity futures advanced with European stocks as investors monitored earnings and seemed to look past the latest tensions between Beijing and Washington. The dollar slipped for a fifth session.

Contracts on the three main American equity gauges pointed to a firm open on Wall Street. While Microsoft Corp. dropped in the premarket after its earnings showed slowing growth in the cloud-computing business, Tesla rose after its results beat estimates. The Stoxx Europe 600 Index climbed on gains in carmakers and consumer products, led by Unilever NV’s jump of as much as 8.7% after its sales fell less than expected. Shares closed mixed in Asia.

Gold advanced for a fifth day and Treasuries were steady as attention turns to U.S. jobless data due later Thursday. Stocks are notching higher even as further tensions between the world’s largest economies threaten to stoke protectionism and trip up the rally, which has been led in America by advances in energy, technology and household goods companies. China may retaliate to the U.S closing its consulate in Houston by shutting an American consulate in Chengdu or slashing staff at its outpost in Hong Kong, according to media reports.


Futures on the S&P 500 Index increased 0.5% as of 6:22 a.m. New York time.The Stoxx Europe 600 Index gained 0.5%.Germany’s DAX Index rose 0.6%.The MSCI Asia Pacific Index climbed 0.3%.


The Bloomberg Dollar Spot Index fell 0.2%.The euro gained 0.2% to $1.159.The Japanese yen was little changed at 107.17 per dollar.The British pound dipped 0.1% to $1.2724.


The yield on 10-year Treasuries declined less than one basis point to 0.59%.Germany’s 10-year yield gained one basis point to -0.48%.Britain’s 10-year yield decreased less than one basis point to 0.119%.


West Texas Intermediate crude increased 0.6% to $42.17 a barrel.Gold strengthened 0.6% to $1,881.82 an ounce.

Futures Climb With Stocks Amid Pickup in Earnings: Markets Wrap, Bloomberg, Jul 23

Article Rating