Futures mixed as traders weigh Fed, China outlook

Futures mixed as traders weigh Fed, China outlook

Stocks















Bloomberg

US equity futures were mixed and bonds gained on Thursday as traders weighed Federal Reserve minutes that struck a less hawkish note with downbeat remarks on China’s economy by Premier Li Keqiang.

Contracts on the Nasdaq 100 and S&P 500 fluctuated amid mixed corporate news. Nvidia Corp. fell more than 5% in premarket trading as China’s Covid-19 lockdowns and the war in Ukraine weighed on the chipmaker’s sales forecast. Apple Inc dropped after a report said that the tech giant is planning to keep iPhone production roughly flat in 2022. Twitter Inc rises after billionaire Elon Musk modified the financing for his bid to purchase the social-media platform.

The Stoxx Europe 600 index posted a modest gain. Energy shares were among the best performing as oil climbed amid data that showed further decrease in US crude and gasoline stockpiles ahead of the summer driving season. Mining shares slid alongside iron ore and most base metals, while technology shares underperfomed.

Treasury yields and the dollar slipped. Fed policy makers indicated their aggressive set of moves could leave them with flexibility to shift gears later if needed.

Investors took some comfort