US stock index futures little changed on Monday, with risk sentiment looking mixed following a volatile week
Wall Street stocks gained on Friday but failed to enter positive territory on a weekly closing basis due to a major sell-off witnessed on much hotter-than-expected inflation data earlier in the week. The Dow Jones advanced 0.5%, the S&P 500 added 0.7%, and the Nasdaq gained 1%. Of note, the indexes rose despite the University of Michigan consumer sentiment index tumbling to 66.8 for November, representing the lowest level in 10 years.
Asian stock markets fluctuated on Monday, with investor sentiment looking mixed at the start of the week. Japan’s Nikkei 225 gained 0.56% after the preliminary economic data showed that the Japanese GDP contracted 0.8% in the third quarter compared to the previous quarter. However, the economy grew by 1.4% compared to July-September 2020. Following the report, Bank of Japan Governor Kuroda noted that today’s weak GDP was likely due to a consumption slump in September.
In Europe, equities opened nearly unchanged, with Spain’s IBEX losing nearly 1% on the news that BBVA offers to take control of Turkey’s Garantin in a $2.6 billion deal. Against this backdrop, BBVA stocks are losing nearly 4% in early trade. US stock index futures little changed on Monday, with risk sentiment looking mixed following a volatile week.
In currencies, the USD index started the week on a negative footing, revisiting the 95.00 region amid some profit-taking after a rally. Still, EURUSD lacks the recovery momentum to get back above the 1.1500 figure while holding just slightly off long-term lows seen around 1.1430 ahead of the weekend. The pair has settled in the 1.1450 area ahead of fresh economic data.
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