U.S. Stock Futures Tick Higher

U.S. stock futures inched higher, putting Wall Street on course to end the week with gains as recent concerns around inflation have faded.

Futures on the S&P 500 strengthened 0.3% and futures tied to the Dow Jones Industrial Average rose 0.4%. Changes in futures don’t necessarily predict movements after the markets open.

In Europe, the Stoxx Europe 600 climbed 0.2% in morning trade, and it is at its highest level in a year. Energy and utilities sectors led gains while communication services and information technology sectors lost ground.

The U.K.’s FTSE 100 gained 0.2%. Other stock indexes in Europe also mostly climbed as France’s CAC 40 added 0.2%, the U.K.’s FTSE 250 gained 0.1% and Germany’s DAX climbed 0.3%.

The Swiss franc and the euro dropped 0.2% and 0.1% respectively against the U.S. dollar whereas the British pound was flat against the dollar, with 1 pound buying $1.42.

In commodities, Brent crude slipped 0.1% to $69.13 a barrel. Gold also slipped 0.3% to $1,892.10 a troy ounce.

The yield on German 10-year bunds was up to minus 0.157% and 10-year U.K. government debt known as gilts yields were up to 0.826%. 10-year U.S. Treasury yields gained to 1.617% from 1.609%. Yields move inversely to bond prices.

Indexes in Asia were mixed as Hong Kong’s Hang Seng logged a small gain, rising 0.1% after climbing up to 0.7% during the session and Japan’s Nikkei 225 index added 2.1%, whereas China’s benchmark Shanghai Composite shed 0.2%.

The initial public offering for FIGS, a clothing retailer that sells hospital scrubs, took place on the New York Stock Exchange on Thursday.



Photo:

Richard B. Levine/Zuma Press

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