Chief economic adviser at Allianz, Mohamed El-Erian, argued more physical infrastructure will eventually lead to lower inflation as Democrats continue to negotiate a massive spending bill.
U.S. stock futures slipped ahead of industrial production figures and another volley of corporate earnings reports.
S&P 500 futures fell 0.3% and Dow Jones Industrial Average futures slipped 0.2%. The contracts don’t necessarily predict movements after the markets open.
In Europe, the Stoxx Europe 600 lost 0.3% in morning trade. Healthcare and real-estate sectors led the losses while utilities and energy sectors rose.
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Traders Gordon Charlop, left, and John Panin work on the floor of the New York Stock Exchange, Tuesday, Feb. 6, 2018.
The U.K.’s FTSE 100, which is dominated by large international businesses, was down 0.1%. Other stock indexes in Europe were mixed as the U.K.’s FTSE 250 was broadly flat, whereas France’s CAC 40 was lower 0.7% and Germany’s DAX shed 0.3%.
The Swiss franc and the euro were down 0.2% and 0.1% respectively against the U.S. dollar whereas the British pound was flat against the U.S. dollar, with 1 pound buying $1.37.
In commodities, international benchmark Brent crude was up 0.6% to $85.41 a barrel. Gold declined 0.3% to $1,763.30 a troy ounce.
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German 10-year bund yields gained to minus 0.142% and the yield on U.K. 10-year gilts strengthened to 1.129%. 10-year U.S. Treasury yields rose to 1.607% from 1.574% on Friday. Yields and prices move in opposite directions.
In Asia, indexes mostly slipped as Hong Kong’s Hang Seng fell 0.7%, Japan’s Nikkei 225 index lost 0.1% and China’s Shanghai Composite was down 0.1%.
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—An artificial-intelligence tool was used in creating this article.
