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U.S. equity futures swung from gains to losses and back again on Thursday amid multiple headlines from China on the trade war. Treasuries and European bonds climbed.
Futures for the three main U.S. stock gauges had already reversed an earlier jump after Beijing pledged countermeasures to the next round of tariffs threatened by the White House. They rebounded as China later said it hopes the U.S. can meet it halfway on trade. Upbeat results from Walmart (NYSE:WMT) and Alibaba (NYSE:BABA) helped also ease the declines. The Stoxx Europe 600 Index dropped. Earlier in Asia most benchmarks declined, though shares in Hong Kong and Shanghai finished higher.
Treasuries had been drifting but gradually turned higher, with European bonds following suit. The dollar slipped as the pound and euro strengthened. Gold fluctuated.
Stocks
- Futures on the S&P 500 Index increased 0.2% as of 7:35 a.m. New York time.
- The Stoxx Europe 600 Index fell 1.2%.
- The U.K.’s FTSE 100 Index fell 1.6%.
- The MSCI Asia Pacific Index declined 0.8%.
- The Bloomberg Dollar Spot Index fell 0.1%.
- The euro rose 0.1% to $1.1154.
- The British pound rose 0.4% to $1.2108.
- The Japanese yen dipped 0.1% to 106.01 per dollar.
- The yield on 10-year Treasuries fell five basis points to 1.53%.
- The yield on two-year Treasuries decreased six basis points to 1.52%.
- Germany’s 10-year yield dipped two basis points to -0.67%.
- Britain’s 10-year yield declined three basis points to 0.448%.
- Gold was little changed at $1,516.13 an ounce.
- West Texas Intermediate crude declined 1.6% to $54.34 a barrel.