US Futures Inch Lower Amidst Trade Talk Volatility and Strong Earnings
Key Points:
* US equity futures retreat slightly as trade tariffs and Ukraine peace efforts continue to dominate headlines.
* Earnings reports highlight a mixed bag, with Palo Alto Networks underperforming and Airbnb exceeding expectations.
* Luxury stocks gain momentum in Europe, with Hermès reaching record highs.
* Inflation concerns persist, but analysts suggest it could mitigate tariff impacts by pressuring Trump to adopt less severe measures.
* The dollar weakens further, supported by decreasing investor bets on aggressive tariff hikes.
* Eurozone economy grows unexpectedly in Q4 2024, while Treasuries remain stable after Thursday's rally.
Major Market Movements:
Stocks:
* S&P 500 futures decline by 0.2%.
* Nasdaq 100 futures lose 0.2%.
* Dow Jones Industrial Average futures fall 0.4%.
* Stoxx Europe 600 flat.
* MSCI World Index slightly unchanged.
Currencies:
* Bloomberg Dollar Spot Index remains steady.
* Euro stable at $1.0466.
* British pound gains 0.1% to $1.2580.
* Japanese yen holds at 152.65 per dollar.
Cryptocurrencies:
* Bitcoin rises 0.4% to $96,915.79.
* Ether climbs 1% to $2,694.49.
Bonds:
* 10-year Treasury yield holds steady at 4.53%.
* German 10-year yield unchanged at 2.43%.
* British 10-year yield rises two basis points to 4.52%.
Commodities:
* West Texas Intermediate crude dips 0.1% to $71.21 per barrel.
* Spot gold gains 0.2% to $2,934.51 per ounce.