U.S. Stock Futures Rise After a Rollercoaster Week, Investors Await Key Earnings Reports

Wall Street Journal2022-10-17 18:44

Brent Last Day Financial - main 2212

+0.95%

Light Crude Oil - main 2211

+0.79%

U.S. stock futures jumped, pointing to another day of outsize moves on Wall Street, as investors try to make sense of an unsettled economic outlook.

Up ahead, investors will parse earnings from Bank of America, Bank of New York Mellon and Charles Schwab before the bell. Some of the biggest U.S. banks reporting last week said they were nervous of a recession.

S&P 500 futures added 1.19%. Volatility struck the stocks benchmark last week. It slid 2.4% Friday after a 2.6% gain Thursday—moves investors said underscored angst over a possible recession and the pace of interest-rates rises, rather than fundamental changes in the economy.

The yield on 10-year Treasury notes slipped to 3.966%, from 4.005% Friday. Yields have risen for 11 consecutive weeks, driven by signs that inflation is proving difficult to budge, making it likely the Federal Reserve will keep on aggressively raising rates.

Global markets were broadly higher. Oil-and-gas stocks led the Stoxx Europe 600 up 0.73%. The Shanghai Composite Index added 0.4%.

Benchmark Brent crude prices were higher at just above $92 a barrel, Light Crude Oil rose over 0.34%.

Gold rose 0.81% and reached $1662.3.

VIX rose nearly 1% while VIXmain slid over 1%.

European natural-gas prices skidded 7% ahead of European Union proposals for policies to quash volatility.

source：Wall Street Journal