U.S. Stock Futures Tick Higher as G-20 Begins
June 28 2019 - 9:17AM
Dow Jones News
By Avantika Chilkoti -- S&P 500 futures up 0.2%
-- Asian markets lower
-- European benchmark index up 0.4%
U.S. stock futures and European shares were up early Friday, as
investors awaited a meeting between Presidents Donald Trump and Xi
Jinping at the Group of 20 summit, where trade negotiations will be
top of the agenda.
Shares in Constellation Brands, the drinks group, were up 7.3%
in premarket trading following an earnings report that beat
expectations.
In Europe, Deutsche Bank shares climbed 3.3% after its U.S.
subsidiary passed the Federal Reserve's stress test. The consumer
services, transportation and technology services sectors led the
regional market higher.
Meanwhile, the U.K.'s Merlin Entertainment, the world's second
largest operator of visitor attractions, was up about 14% after it
said it was being bought by a consortium involving Lego and
Blackstone Group.
The Commerce Department reported that personal-consumption
expenditures, a measure of household spending on everything from
carpet cleaning to computers, increased a seasonally adjusted 0.4%
in May from April. Growth in April outlays was revised up to 0.6%
from an originally reported 0.3% rise.
The downbeat trading session in Asia came ahead of the G-20
meetings this weekend, where investors will watch for signs that
trade tensions between the U.S. and China are set to clear.
Monica Defend, head of strategy and deputy head of group
research and macro strategy at Amundi, said she didn't expect the
U.S. and China to break the impasse on trade at the meetings in
Japan, and that she will be watching other factors, such as
upcoming economic data, closely.
"The G-20 is just one on the list in order to understand how
much uncertainty might continue to stay on trade and eventually on
growth," Ms. Defend said, pointing to the recent drop in bond
yields, which signals gloomy expectations for global output.
Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com
(END) Dow Jones Newswires
June 28, 2019 09:02 ET (13:02 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Constellation (NYSE:STZB)
Historical Stock Chart
From Apr 2024 to May 2024
Constellation (NYSE:STZB)
Historical Stock Chart
From May 2023 to May 2024
