Stocks struggle, US futures slip; oil rises

Stocks struggle, US futures slip; oil rises

Stocks















Bloomberg

Stocks in Europe struggled for traction and US index futures slipped as traders weighed the latest developments in the Ukraine war, with some European governments pushing for stiffer sanctions on Russia amid reports that its troops executed unarmed civilians.

The Stoxx Europe 600 index fluctuated at the open, with banks and car makers leading declines. The healthcare sector outperformed as Roche Holding AG climbed after the US Food and Drug Administration (FDA) gave a priority review for its Covid-19 drug Roactemra. Futures on the S&P 500 and Nasdaq 100 slipped. Futures on the S&P 500 and Nasdaq 100 edged lower.

Treasuries dipped on the prospect of sharp Fed interest-rate hikes to fight inflation. WTI crude oil climbed above $100 a barrel as traders weighed threats to demand from China’s Covid outbreak and moves to tap strategic reserves to enhance supply and curb elevated energy costs.

The Treasury yield curve is flashing more warnings that economic growth will slow as the Fed raises rates to tame inflation stoked in part by commodities. The two-year US yield has exceeded the 30-year for the first time since 2007, joining inversions on