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Home / Business / Stocks, futures are submerged when profits threaten; Dollar up: market rotation

Stocks, futures are submerged when profits threaten; Dollar up: market rotation



(Bloomberg) – Stocks in Europe slipped with futures on US stocks as investors weighed the prospect of a greater incentive against declining earnings and the further spread of the coronavirus. The dollar rose.

Banks and carmakers have dragged the Stoxx Europe 600 index lower outdoors. The contracts for the three major U.S. measurement securities indicated small losses on Wall Street, following an advance on Wednesday caused by a commitment by the Federal Reserve to use all of its instruments to support economic recovery.

The total volume of SE increased after the publication of better results than expected, due to trade gains that offset the fall in oil prices. Anheuser-Busch InBev NV was ahead of the results, which showed a return to growth after the reopening of bars in key markets. Apple Inc., Amazon.com Inc. and Alphabet Inc. must report earnings later.

As the pandemic continues to rage, governments have halved $ 11 trillion in incentives and unprecedented central bank support since the crisis began. Since the outbreak in March, the Fed has charged almost zero rates and implemented several emergency lending programs aimed at promoting liquid trading conditions in financial markets.

The Fed “is committed to doing everything possible to support the economy and maintain liquidity conditions very pleasant,” said Margaret Ian, a strategist at DailyFX, on Bloomberg TV. The results of large technology companies on Thursday will be “very critical for the mood in the market, so if these companies miss the target profit, then market sentiment may deteriorate.”

Otherwise, oil fell below $ 41 a barrel after data showed the largest decline in crude stocks this year. The dollar has been boosted by investors seeking security against coronavirus revival around the world.

Here are some key events:

Apple, Amazon.com, Alphabet reported earnings on Thursday; The results of Chevron Corp. and Caterpillar Inc. are due out on Friday. GDP for the second quarter is scheduled for Thursday. PMI data in China appear on Friday.

Here are some of the key steps in the markets:

Stocks

Futures on the S&P 500 fell 0.6% as of 8:22 London time. The Stoxx Europe 600 index fell 0.6%. The German DAX index fell 1.3%. The MSCI Asia Pacific index fell 0.1%.

Currencies

The Bloomberg Spot Income Index gained 0.2%. The euro fell 0.3% to $ 1.1756. The Japanese yen weakened by 0.1% to 105.05 per dollar.

Bonds

Yields in 10-year treasuries fell by one basis point to 0.56%. Germany’s 10-year yield fell by two basis points to -0.52%. Britain’s 10-year yield fell by two basis points to 0.1%.

Cargo

Intermediate oil levels in West Texas fell 0.8% to $ 40.92 a barrel. Gold fell 0.8% to $ 1,954.21 an ounce.

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