Stock futures edge down ahead of trade strategy update
U.S. Trade Representative Katherine Tai will address the Biden administration’s China trade strategy at 10 a.m. ET
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U.S. stock futures declined and government bond yields edged up as investors awaited an update on the Biden administration’s China trade policy.
S&P 500 futures slipped 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.
European stocks fell Monday for a three-day losing streak. The Stoxx Europe 600 was down 0.3% in morning trade. Financials and communication services sectors led the losses while healthcare and real-estate sectors rose.
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Traders Tommy Kalikas, Gregory Rowe, and Mark Muller, left to right, work on the floor of the New York Stock Exchange, Tuesday, Aug. 14, 2018. (AP Photo/Richard Drew) (AP)
The U.K.’s FTSE 100 lost 0.1%. Other stock indexes in Europe also mostly fell as France’s CAC 40 was lower 0.4%, the U.K.’s FTSE 250 declined 0.2% and Germany’s DAX shed 0.5%.
The Swiss franc slipped 0.1% against the U.S. dollar, with 1 franc buying $1.07 whereas the euro and the British pound strengthened 0.1% against the dollar.
In commodities, Brent crude fell 0.4% to $78.94 a barrel. Gold also fell 0.1% to $1,757.40 a troy ounce.
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German 10-year bund yields rose to minus 0.217% and the 10-year U.K. government debt known as gilts yield was up to 1.011%. The yield on 10-year U.S. Treasury rose to 1.476% from 1.464% on Friday. Yields move inversely to prices.
Stocks in Asia mostly slipped as Hong Kong’s Hang Seng was down 2.3% and Japan’s Nikkei 225 index declined 1.1% after trading higher 0.9% earlier.
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—An artificial-intelligence tool was used in creating this article.