Stocks Steady as U.S. Futures Drop; Oil Declines

Stocks were steady as U.S. futures slipped Thursday as investors weighed the possibility of reduced stimulus against the prospects of recovery from the pandemic. Oil declined and Treasury yields were stable.

The Stoxx Europe 600 Index hovered near a record as gains in miners and travel shares offset losses in health care. Planemaker Airbus SE climbed after telling suppliers it plans to raise output. Contracts on the S&P 500 and Nasdaq 100 fell. In Asia, Chinese stocks and currency edged higher after Washington and Beijing held the first trade talks since Joe Biden became president.

Stocks

The Stoxx Europe 600 was little changed as of 8:18 a.m. London timeFutures on the S&P 500 fell 0.3%Futures on the Nasdaq 100 fell 0.4%Futures on the Dow Jones Industrial Average fell 0.2%The MSCI Asia Pacific Index was little changedThe MSCI Emerging Markets Index was little changed

Currencies

The Bloomberg Dollar Spot Index fell 0.1%The euro was little changed at $1.2203The Japanese yen was little changed at 109.10 per dollarThe offshore yuan rose 0.1% to 6.3723 per dollarThe British pound was little changed at $1.4115

Bonds

The yield on 10-year Treasuries was little changed at 1.58%Germany’s 10-year yield was little changed at -0.20%Britain’s 10-year yield advanced one basis point to 0.76%

Commodities

Brent crude fell 0.6% to $68 a barrelSpot gold rose 0.2% to $1,900 an ounce

Stocks Steady as U.S. Futures Drop; Oil Declines: Markets Wrap, Bloomberg, May 27