Connect with us

International

US Futures Point Higher After Thursday’s Sell, But Bond Yields Still Concern Some Investors

Avatar

Published

on


US stocks had a sluggish week after a strong start to February.

U.S. equity futures traded higher on Friday after a week in which stocks struggled to find direction as bond yields rose, raising borrowing costs and worrying some investors.

Longer-term U.S. bond yields surged overnight and traded to their highest level since February 2020, before the coronavirus pandemic took hold.

Futures on S&P 500 rose 0.31% on Friday morning, after the benchmark fell 0.44% on Thursday. Futures on the Nasdaq climbed 0.37% and futures on Dow Jones rose 0.25% after both indices fell the day before.

Stocks were mixed in Asia overnight, with China’s CSI 300 gaining 0.18% but Japan’s Nikkei 225 slipping 0.72%.

The European Stoxx 600 index rose 0.2% in morning trading, while the UK’s FTSE 100 was only 0.02% higher. The British pound topped $ 1.40 for the first time since 2018, as investors applauded the UK’s rapid vaccination campaign.

Stocks had a gloomy week after surging in early February. Lawmakers continue to debate a possible US $ 1.9 trillion stimulus package and nibble at the economic data.

Data on Thursday showed US jobless claims rose more than expected to 861,000 the week before, contrasting with stronger than expected retail sales figures the day before.

A sharp rise in bond yields also weighed on equities. When bond yields rise, safe assets have become more attractive to investors.

The yield on the 10-year US Treasury bill, which moves inversely to price, rose 1.9 basis points to 1.306% on Friday morning. It was near a one-year high of 1.33% hit on Wednesday.

“A resumption in the surge in global bond yields is starting to worry some traders,” said Edward Moya, senior market analyst at foreign exchange firm Oanda.

“Despite a firm commitment from the Fed that monetary policy will remain favorable and additional fiscal spending from the Biden administration, US stocks are ripe for a pullback if yields continue to rise.”

Nonetheless, the US stock rally has shown few signs of a significant slowing down yet. The S&P 500 is up around 4% in 2021 and up 15% in the last 6 months.

Bitcoin’s price hit an all-time high of over $ 52,800 on Friday as investors continued to accumulate in the cryptocurrency. His gain since the start of the year is now around 80%.

WTI crude oil returned from an approximately 14-month high caused by lower temperatures hitting Texas. It was down 1.57% Friday morning at $ 59.56 a barrel. Brent crude was 1.13% lower at $ 63.20 a barrel.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]