Stock Futures Drop, Pointing to Decline in Technology Shares
U.S. stock futures edged down Thursday, suggesting that
technology stocks will continue to slide after the opening bell and
weigh on the major indexes.
Futures on the S&P 500 declined 0.3% and contracts on the
Dow Jones Industrial Average futures slipped 0.3%. Nasdaq-100
futures fell almost 0.6%. Changes in equity futures do not
necessarily predict market moves after the markets open.
The yield on 10-year U.S. Treasurys slid to 1.282%, from 1.297%
on Wednesday. Yields move inversely to bond prices.
Data on U.S. jobless claims for the week ended Feb. 13, due at
8:30 a.m. ET, are expected to show a downward trend. While that is
a move in the right direction, the overall level of applications
for unemployment benefits is still historically elevated, signaling
a high level of layoffs and continuing labor-market
Overseas, the Stoxx Europe 600 was largely flat while the U.K.'s
FTSE 100 slid 0.3%.
Among individual equities, Ashtead Group rose 2.3%. Airbus fell
3.7% snapping a four-session winning streak.
The euro and the British pound were up 0.1% and 0.2%
respectively against the U.S. dollar and the Swiss franc was flat
against the U.S. dollar, with 1 franc buying $1.11.
In commodities, Brent crude gained 0.9% to $64.89 a barrel. Gold
also gained 0.3% to $1,778.60 a troy ounce.
The German 10-year bund yield was recently at minus 0.359% and
the yield on U.K. 10-year gilts was at 0.585%.
Indexes in Asia were mixed as China's benchmark Shanghai
Composite rose 0.6%, whereas Hong Kong's Hang Seng dropped 1.3% and
Japan's Nikkei 225 index shed 0.2%.
-- An artificial-intelligence tool was used in creating this
(END) Dow Jones Newswires
February 18, 2021 03:55 ET (08:55 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.