Stock futures slip ahead of earnings and manufacturing data

U.S. stock futures ticked lower ahead of manufacturing data and a group of earnings reports from retailers and technology companies.

Futures on the S&P 500 slipped 0.2% and Dow Jones Industrial Average futures fell 0.2%. Changes in equity futures don’t necessarily predict moves after the opening bell. The S&P 500 finished lower Monday after the news that President Biden would nominate Jerome Powell for a second term leading the Federal Reserve.  

European stocks declined Tuesday for a four-day losing streak. The Stoxx Europe 600 shed 0.9% in morning trade. Consumer staples and healthcare sectors posted the main losses while the materials sector rose.

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The U.K.’s FTSE 100, which is dominated by large international businesses, lost 0.3%. Other stock indexes in Europe also mostly slipped as France’s CAC 40 was down 0.8%, the U.K.’s FTSE 250 was lower 0.7% and Germany’s DAX fell 0.9%.

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The British pound depreciated 0.1% against the U.S. dollar, with 1 pound buying $1.34. Meanwhile, the Swiss franc and the euro gained 0.2% and 0.1% respectively against the dollar.

In commodities, Brent crude fell 0.5% to $79.30 a barrel. Gold was flat, at $1,805.90 a troy ounce.

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The yield on 10-year U.S. Treasury was little changed at 1.624% from 1.625% on Monday. The German 10-year bund yield rose to minus 0.283% and U.K. 10-year gilts yields strengthened to 0.951%. Bond yields move in the opposite directions to prices.

Indexes in Asia were mixed. Hong Kong’s Hang Seng declined 1.1% and China’s Shanghai Composite rose 0.2%.

—An artificial-intelligence tool was used in creating this article.