Stock Futures Edge Down Ahead of Powell Testimony
Stock Futures Edge Down Ahead of Powell Testimony #Stock #Futures #Edge #Ahead #Powell #Testimony Welcome to Lopoid
June 23, 2022 3:31 am ET
U.S. stock futures ticked lower ahead of a second day of congressional testimony from Federal Reserve Chairman
Jerome Powell
that will focus on the path of interest rates and the economic outlook.
Futures on the S&P 500 fell 0.4% and futures tied to the Dow Jones Industrial Average were down 0.3%. Changes in futures don’t necessarily predict movements after the opening bell.
Europe stocks declined Thursday for a two-session losing streak. The Stoxx Europe 600 lost 0.6% in morning trade dragged down by declines in materials and industrials sectors.
Aena S.M.E. slipped 2.8% for a three-day losing streak and
Umicore
fell 2.9%.
The U.K.’s FTSE 100, which is dominated by large international businesses, shed 0.5%. Other stock indexes in Europe also mostly slipped as France’s CAC 40 was down 0.4%, the U.K.’s FTSE 250 declined 0.1% and Germany’s DAX was lower 0.3%.
The Swiss franc, the euro and the British pound dropped 0.2%, 0.2% and 0.3% respectively against the U.S. dollar.
In commodities, Brent crude slipped 2% to $106.52 a barrel. Gold was also down 0.2% to $1,835.60 a troy ounce.
German 10-year bund yields declined to 1.572% and the yield on U.K. 10-year gilts was down to 2.447%. 10-year U.S. Treasury yields fell to 3.141% from 3.155%. Yields move inversely to prices.
Stocks in Asia mostly climbed as Hong Kong’s Hang Seng added 1.7%, Japan’s Nikkei 225 index logged a small gain, rising 0.1% after climbing up to 0.9%, and China’s benchmark Shanghai Composite gained 1.6%.
A trader worked on the floor of the New York Stock Exchange on Wednesday.
Photo:
BRENDAN MCDERMID/REUTERS
—An artificial-intelligence tool was used in creating this article.
Navigating the Bear Market
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
