Stock Futures Slip as Bond Yields Rise
U.S. stock futures pointed to another session of declines while government bond yields extended their gains.
S&P 500 futures declined 0.4% and futures on the Dow Jones Industrial Average were down 0.3%. Changes in futures don’t necessarily predict market moves after the opening bell.
European stocks fell Wednesday for a two-day losing streak. The Stoxx Europe 600 shed 0.3% in morning trade. Utilities and communication services sectors notched the biggest losses while consumer discretionary and financials sectors rose.
climbed 2.9% and
jumped 3.6%.
The U.K.’s FTSE 100 was lower 0.2%. Other stock indexes in Europe also mostly slipped as France’s CAC 40 was down 0.1%, the U.K.’s FTSE 250 lost 0.5% and Germany’s DAX declined 0.7%.
The euro and the British pound fell 0.7% and 0.4% respectively against the U.S. dollar. Meanwhile, the Swiss franc was up 0.2% against the U.S. dollar, with 1 franc buying $1.09.
In commodities, Brent crude rose 0.8% to $88.17 a barrel. Gold was flat, at $1,813.10 a troy ounce.
German 10-year bund yields were up to 0.021% and the 10-year U.K. government debt known as gilts yield gained to 1.285%. 10-year U.S. Treasury yields rose to 1.897% from 1.866%. Bond prices and yields move in opposite directions.
Indexes in Asia mostly fell as Hong Kong’s Hang Seng was down 0.3% after trading higher 0.7% earlier, Japan’s Nikkei 225 index was lower 2.8% and China’s benchmark Shanghai Composite shed 0.3%.
Traders worked on the trading floor of the New York Stock Exchange on Tuesday.
Photo:
Wang Ying/Zuma Press
—An artificial-intelligence tool was used in creating this article.
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