(Bloomberg) – Equities in Europe fell on U.S. equity futures as investors appreciated the potential for a greater stimulus compared to high earnings and the continued spread of the coronavirus. The dollar has risen.
Banks and car manufacturers have lowered the Stoxx Europe 600 index. The contracts of three major American stock gauges showed a small loss in Wall Street following Wednesday’s advance, prompted by the Federal Reserve’s promise to use all its instruments to support economic recovery.
The overall SE rose after announcing better-than-expected results due to an increase in trade that offsets the fall in oil prices. Anheuser-Busch InBev NV achieved the most results, which showed growth after the resumption of bars in key markets. Apple Inc., Amazon.com Inc. and Alphabet Inc. will report earnings later.
As the pandemic continues, governments have to double the $ 11 trillion stimulus and unprecedented central bank support released since the crisis began. Since the start of the Fed in early March, interest rates have been kept close to zero and a number of urgent lending programs have been implemented to promote the promotion of liquid trading conditions in financial markets.
The Fed “is committed to doing everything it can to support the economy and provide a very favorable liquidity environment,” Margaret Yang, strategist at DailyFX, told Bloomberg TV. The results of high-tech firms on Thursday will be “very critical of market sentiment, so if these companies miss the target to earn, market sentiment could weaken.”
Oil fell below $ 41 a barrel after data showed the biggest drop in U.S. commodity stocks this year. The dollar was driven by investors looking to protect themselves from coronavirus growth around the world.
Here are some of the highlights:
Apple, Amazon.com, alphabetically announces earnings on Thursday; The results for Chevron Corp. and Caterpillar Inc. will be released on Friday. U.S. second-quarter GDP will be on Thursday. China’s PMI data is coming on Friday.
These are some of the key movements in the markets:
S&P 500 index futures fell 0.6% from 8:22 p.m. 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%.
The Bloomberg Dollar Spot Index rose 0.2%. The euro fell 0.3% to $ 1.1756. The Japanese yen weakened 0.1% to $ 105.05 per dollar. The British pound fell 0.3% to $ 1.2963.
The 10-year Treasury yield fell by one basis point to 0.56%. Germany’s 10-year yield fell two basis points to -0.52%. The UK’s 10-year yield fell two basis points to 0.1%.
The West Texas intermediate commodity rate fell 0.8% to $ 40.92 a barrel. Gold depreciated 0.8% to $ 1,954.21 an ounce.
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