(Bloomberg) – Shares were mixed and US futures were little changed on Friday as traders waited for key US employment data amid promising developments on the vaccine front.
The Stoxx 600 index opened slightly higher as automakers and travel agencies rose. Contracts on the S&P 500 were flat ahead of Friday’s monthly wage report, which will be closely watched for clues as to when the Federal Reserve may begin to withdraw support. News that Johnson & Johnson’s vaccine neutralizes the fast-spreading delta variant helped boost sentiment.
In Asia, Chinese and Hong Kong stocks slipped as Japan rose. WTI crude oil was trading around $ 75 a barrel, near the highest since 2018, after internal OPEC + feuds cast doubt on a deal that could ease a price spike. The dollar steadily climbed and treasury bills were little changed.
Investors are analyzing print data like the next wage report to get a feel for the Fed’s proximity to a tapered accommodation policy as employment improves and inflationary pressures intensify. The International Monetary Fund has said the Fed will likely start reducing its asset purchases in the first half of 2022 and is likely to hike interest rates later in the year or early 2023.
“If all goes well, the Fed is on track to announce some form of cut before the end of the year,” said Selena Ling, head of treasury research and strategy at Oversea-Chinese Banking Corp. , on Bloomberg Television. “Everyone is looking at Jackson Hole for Fed Chairman Powell to really indicate what the intentions are for the future.”
Elsewhere, Bitcoin slipped and was trading around $ 33,000.
Here are some events to watch this week:
ECB President Christine Lagarde speaks on Friday The US employment report is due on Friday
Here are some of the main movements in the markets:
The Stoxx Europe 600 was up 0.3% at 8:13 a.m. London time. fell 1.1%
Bloomberg Dollar Spot Index rose 0.1% Euro fell 0.2% to $ 1.1827 Japanese yen was little changed at 111.62 per dollar Offshore yuan fell 0.3 % to 6.4893 per dollar The British pound fell 0.1% to $ 1.3753
The 10-year Treasury yield was little changed at 1.46% Germany’s 10-year yield was little changed at -0.21% Britain’s 10-year yield fell by one basis point at 0.72%
Brent crude fell 0.3% to $ 75.64 a barrel Spot gold was little changed
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