U.S. Stock Futures Advance; Dollar Pares Gain: Markets Wrap

 

 

 

These are the main moves in markets:

Stocks

• The Stoxx Europe 600 Index declined 0.6% as of 8:30 a.m. New York time.
•  S&P 500 Index rose 1.39% as of 9:20 am
• The MSCI Asia Pacific Index increased 0.1%.

Currencies

• The Bloomberg Dollar Spot Index rose 0.2% to 1,257.93.
• The euro declined 0.2% to $1.0875.
• The British pound climbed 0.3% to $1.2365.
• The Japanese yen weakened 0.1% to 108.87 per dollar.

Bonds

• The yield on 10-year Treasuries rose five basis points to 0.76%.
• The spread of Italy’s 10-year bonds over Germany’s climbed six basis points to 1.985 percentage points.
• Germany’s 10-year yield increased one basis point to -0.30%.
• Britain’s 10-year yield declined two basis points to 0.395%.

Commodities

• West Texas Intermediate crude rose 1.4% to $23.95 a barrel.
• Gold was little changed at $1,647.21 an ounce.
• Iron ore rose 1.9% to $80.72 per metric ton.

U.S. equity futures rose and European stocks fell as investors weighed Tuesday’s late reversal on Wall Street and the latest data surrounding the coronavirus and its economic toll. The dollar trimmed a gain and Treasuries yield rose.

Contracts on the three main American stock indexes fluctuated before finally making a solid advance, with air carriers including Delta Air Lines Inc. rising in the premarket. Overnight, the White House was said to be developing plans to get the U.S. economy back in action. Most of the 19 sector groups on the Stoxx Europe 600 Index dragged the gauge down after euro-area finance chiefs failed to agree on a $540 billion economic package to respond to the pandemic.

Italian bonds took a hit and the euro headed for its seventh drop in eight days against the dollar as the officials struggled to reconcile visions for how to recover from the virus. Core debt in the region reversed gains. France’s first-quarter output shrank the most since World War II, the latest indicator of the severity of the shock to the world’s biggest trading region. Spain confirmed having Europe’s most-extensive outbreak of the disease, with deaths and infections rising the most in four days.