Stock futures edge down ahead of trade strategy update

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US Trade Representative Catherine Tai will address the Biden administration’s China trade strategy at 10 a.m.

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US stock futures fell and government bond yields rose as investors waited for updates on the Biden administration’s China trade policy.

S&P 500 futures were down 0.3% and futures on the Dow Jones Industrial Average were down 0.2%. Changes in equity futures do not necessarily predict movements after the opening bell.

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European stocks fell on Monday with a three-day decline. Stokes Europe 600 was down 0.3% in morning trade. The financial and communications services sectors led the losses while the health and real estate sectors rose.

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The UK’s FTSE 100 lost 0.1%. Other stock indexes in Europe also fell mostly as France’s CAC 40 was down 0.4%, the UK’s FTSE 250 fell 0.2% and Germany’s DAX 0.5%.

The Swiss franc slipped 0.1% against the US dollar, buying the 1 franc at $1.07 while the euro and the British pound strengthened 0.1% against the dollar.

Among commodities, Brent crude fell 0.4% to $78.94 a barrel. Gold also fell 0.1% to $1,757.40 per troy ounce.

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The German 10-year bundle yield rose to minus 0.217% and the 10-year UK government debt gilt yield, known as the gilt yield, was up to 1.011%. The yield on the 10-year US Treasury rose to 1.476 per cent from 1.464 per cent on Friday. Yields move inversely to prices.

Stocks in Asia slipped mostly as Hong Kong’s Hang Seng was down 2.3% and Japan’s Nikkei 225 index fell 1.1% after trading 0.9% earlier.

an artificial intelligence tool was used in the making of this article.


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