US equity futures dropped on Monday as price pressures and a slowing global economy continue to shadow markets.
S&P 500 futures fell 0.69%; Nasdaq 100 futures retreated 0.97%.
An inflation reading from the US later this week is expected to get closer to 9%, a fresh four-decade high, buttressing the Federal Reserve’s case for a jumbo July rate hike. Company earnings, meanwhile, willshed lighton recession fears that contributed to an $18 trillion first-half wipeout in global equities.
Treasuries edged lower, taking the US 10-year yield toward 3.1%. Inversions along the yield curve are potential signs of economic retrenchment ahead.
A dollar gauge was back around the highest level since 2020. The yen was the weakest performer in the Group-of-10 basket. Commodity-linked currencies were also under pressure. Raw materials including oil were on the back foot.
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