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Futures of U.S. stock markets set aside another day of losses in China and Hong Kong on Thursday, where indices were hit by fears of a slowdown in economic slowdown and debt problems. giant real estate developer China Evergrande Group.
Futures tied to the S&P 500 and the Dow Jones Industrial Average faltered between gains and losses, indicating that both indices will be able to see trading after the initial bell. High-tech Nasdaq-100 contracts fell less than 0.1%.
Hong Kong’s Hang Seng fell 1.5% and China’s Shanghai Composite contracted 1.3%. Growth in different areas Chinese economic indicators withdrew abruptly in August, as a new outbreak of the Covid-19 Delta variant and stricter government regulations on the real estate market affected consumer spending and the housing sector.
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Traders Gordon Charlop, left, and John Panin are working on the New York Stock Exchange floor on Tuesday, February 6, 2018.
Investors were also worried they might have problems with Evergrande, one of China’s largest residential developers turn the country’s real estate sector upside down, which accounts for a large share of economic spending and family wealth.
“Evergrande has advanced that there are so many vulnerabilities in the Chinese system and it is difficult to know where the Chinese government is intervening,” said Seema Shah, chief strategist at Principal Global Investors. “There’s this that only weighs on trust.”
Elsewhere, the Stoxx Europe 600 gained 0.6%. Lagardère shares rose 20% after the media conglomerate Vivendi reached an agreement to increase its stake in the French group, an action that opens the door to a full takeover.
Actions of Ryanair Holdings increased 4% after the airliner raised its five-year growth forecast to 225 million passengers in March 2026. They also gained shares from other airlines, with EasyJet 3.3% more Wizz Air Holdings 2.9% more.
Retail sales in the United States, scheduled for 8:30 a.m. ET, are expected to fall in August. Supply chain problems are hampering car production and limiting sales, while the resurgent Covid-19 is upsetting consumer confidence and possibly shopping in stores, restaurants and online.
Investors will also get new figures on the number of Americans applying for unemployment benefits for the first time the week ending Sept. 11. reached a pandemic low in early September, but economists surveyed by The Wall Street Journal hope that claims may increase on the latest data.
In bond markets, the yield on the 10-year Treasury bill rose to 1.309% on Thursday, from 1.302% on Wednesday. Yields increase when prices fall.
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US futures fell on Thursday, after a bounce on Wall Street, with European indexes largely winning and Asians mostly declining.
S&P 500 futures fell 0.1% and Dow Jones Industrial Average futures fell 0.1%. Contracts do not necessarily provide for movements after the opening bell.
European stocks advanced Thursday. The Stoxx Europe 600 rose 0.5% in morning trading. The industrial and energy sectors gained gains, while the materials and utilities sectors lost ground. The UK FTSE 100, dominated by large international companies, rose 0.3%. Other stocks in Europe also rose mainly, as France’s CAC 40 gained 0.6% and the German DAX gained 0.3%.
The Swiss franc, the euro, and the British pound fell 0.3%, 0.2%, and 0.1%, respectively, against the US dollar.
In commodities, international benchmark Brent crude fell 0.1% to $ 75.39 a barrel. Gold also fell 0.6% to $ 1,784.40 a troy ounce.
The ten-year US Treasury yield strengthened to 1.302%, from 1.301%. Yields are reversed to prices. 10-year German bund yields rose to at least 0.296% from at least 0.305% and the UK 10-year government debt known as gold yields was 0.701% to 0.669%.
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In Asia, the indices fell mainly as Hong Kong’s Hang Seng fell 1.8%, Japan’s Nikkei 225 index fell 0.6% and China’s benchmark Shanghai Composite fell 1.3% after having gained 0.6% before.