Photographer: Kiyoshi Ota / Bloomberg
Photographer: Kiyoshi Ota / Bloomberg
US equity index futures struggled in the direction on Friday, while investors weighed on the outlook for economic growth over persistent inflation concerns. Treasury yields rose and the dollar won.
S&P 500 futures fluctuated, while Nasdaq 100 contracts declined as Chinese factory price data has raised new concerns about global inflation, despite the promise of Federal Reserve Chairman Jerome Powell to a US recovery without rising prices. The US manufacturer’s price data later on Friday could provide further indications of the outlook.
The Stoxx Europe 600 index was flat, running for the sixth consecutive week of gains, the longest period since November 2019. Bond yields rose further across the euro region.
Fed officials stressed that the US economy continues to need aggressive political support as it recovers from the pandemic, even as the outlook brightens as vaccines expand. Powell He said on Thursday that policymakers would react if inflation expectations began to “move persistently and materially” above tolerable levels. Despite the strength of some indicators, the recovery remains incomplete, as reflected in the last US unexpectedly large jobless claims.
“Many investors are worried about stock market highs, but that doesn’t mean it can’t rise, and economic conditions are certainly set for a positive capital environment,” Xi Qiao, CEO of UBS Global Wealth Management, told Bloomberg TV.
More than 704 million photos were taken worldwide, but uncertainty about the risks associated with the AstraZeneca vaccine has slowed the process in some countries. Germany and France, the two largest economies in the eurozone, have both seen unexpected declines in industrial production in February, suggesting that coronavirus restrictions are increasingly harming parts of the economy that have proven resilient so far.
Oil fluctuated below $ 60 a barrel like Saudi Arabia defended the OPEC + plan to increase production and said the alliance could change course if necessary.
These are some of the main movements in the markets:
Inventories
- The S&P 500 futures rose less than 0.1% since 9:10 a.m. in London. The S&P 500 closed 0.4% higher.
- Nasdaq 100 futures fell 0.1% after the index gained 1%.
- The Stoxx Europe 600 index has been slightly changed.
- The MSCI Asia Pacific Index fell 0.4%.
- The MSCI Emerging Markets Index fell 0.6%.
currencies
- The Bloomberg Dollar Spot index rose 0.2%.
- The euro fell 0.2% to $ 1.1894.
- The pound weakened 0.3% to $ 1.3698.
- The Japanese yen traded at 109.54 per dollar, down 0.3%.
BONDS
- The 10-year Treasury yield increased by five basis points to 1.67%.
- Germany’s 10-year yield rose three basis points to -0.31%.
- The UK’s 10-year yield rose four basis points to 0.79%.
commodities
- West Texas Intermediate Oil fell 0.3% to $ 59.40 a barrel.
- Gold was 0.5% lower at about $ 1,747 an ounce.