US stock futures gain ahead of retail sales, producer prices
Government bond yields ticked lower
Value stocks will be ‘winners’ by end of 2021: Market expert
Strategas Research Partner Chris Varrone, SlateStone Wealth chief market strategist Kenny Polcari and Kaltbaum Capital Management President Gary Kaltbaum discuss the 10-year Treasury yield, inflation and today’s markets.
U.S. stock futures edged up ahead of data on retail sales and producer prices that could offer clues as to whether recent inflationary pressures will linger.
S&P 500 futures were up 0.2% and futures tied to the Dow Jones Industrial Average rose 0.2%. Changes in futures don’t necessarily predict moves after the opening bell.
In Europe, the Stoxx Europe 600 added 0.3% in morning trade, and it is at its highest level in a year. Healthcare and communication services sectors led gains while financials and consumer discretionary sectors lost ground.
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The U.K.’s FTSE 100 climbed 0.2%. Other stock indexes in Europe also mostly climbed as France’s CAC 40 gained 0.3%, the U.K.’s FTSE 250 rose 0.1% and Germany’s DAX added 0.6%.
The Swiss franc and the euro strengthened 0.2% against the U.S. dollar and the British pound was mostly flat against the dollar, with 1 pound buying $1.41.
In commodities, Brent crude was up 0.5% to $73.21 a barrel. Gold was also up 0.1% to $1,868.40 a troy ounce.
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German 10-year bund yields fell to minus 0.253% and 10-year gilts yields slipped to 0.737%. 10-year U.S. Treasury yields fell to 1.486% from 1.499%. Bond prices and yields move in opposite directions.
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Stocks in Asia were mixed as Japan’s Nikkei 225 index gained 1%, whereas Hong Kong’s Hang Seng was lower 0.7% and China’s benchmark Shanghai Composite declined 0.9%.