U.S. Stock Futures Inch Higher Ahead of Inflation Report

Wall Street Journal2022-09-13

U.S. stock futures edged higher, suggesting U.S. markets could enjoy a fifth straight day of gains, after major indexes added between 0.7% and 1.3% on Monday. Consumer-price data is due later in the session.

E-mini S&P 500 futures strengthened 0.53% and futures on the Dow Jones Industrial Average were up 0.5%. Changes in equity futures don't necessarily predict movements after the markets open.

In Europe, the Stoxx Europe 600 gained 0.2% in morning trade. Consumer staples and industrials sectors led gains while financials and consumer discretionary sectors lost ground.

The U.K.'s FTSE 100 was largely flat. Whitbread added 2.2% for a three-session winning streak and Capita rose 2.8%.

Ocado Group slipped 9%, snapping a three-day run of gains and Marks and Spencer Group fell 2.9%.

Other stock indexes in Europe also mostly climbed as France's CAC 40 climbed 0.3%, the FTSE 250 rose 0.1%, and Germany's DAX added 0.1%.

The Swiss franc, the euro and the British pound gained 0.3%, 0.1% and 0.2% respectively against the U.S. dollar.

In commodities, international benchmark Brent crude was up 0.4% at $94.42 a barrel. Gold declined 0.4% to $1,733.80 a troy ounce.

Both VIX and VIXmain slid around 1%.

The yield on German 10-year bunds was up to 1.676% from 1.654% and U.K. 10-year gilt yields gained to 3.099% from 3.083%. The 10-year U.S. Treasury yield was down to 3.332% from 3.358%. Yields move inversely to prices.

In Asia, indexes mostly climbed. Hong Kong's Hang Seng was broadly flat, erasing earlier gains, while Japan's Nikkei 225 index rose 0.3% and China's benchmark Shanghai Composite added 0.1%.

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