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13 Oct 2021

U.S. Equity Futures, Euro Stocks Fluctuate Ahead of Earnings Reports

U.S. Equity Futures, Euro Stocks Fluctuate Ahead of Earnings Reports

The Index Today

U.S equity futures and European stocks remained unsteady ahead of inflation data report and earnings reports. S&P 500 contracts countered a previous loss whereas Apple Inc.’s shortage woes managed to creep into investor sentiment. Most stock losses were offset by the tech firms’ gains along with steady European stocks.

The U.S 10-year Treasury yield stayed below 1.60% and crude oil remained close to $80 a barrel. In other news, Chinese thermal coal futures reached a record high number. Apple Inc. shares during premarket trading after it announced a drop in production targets for the year. The main cause for lower production was cited as “chip shortages.”

The upcoming reports for corporate earnings will provide more insight into price pressures, business profits and economic growth. Central banks are beginning to contract stimulus packages and push for economic recovery. In cryptocurrency news, Bitcoin traded around $56,300 and is expected to move higher.