Concern over a slowdown in the global economy caused swings in gains and losses in US stock-index futures and Treasury bonds.
Contracts on the S&P 500 and NASDAQ 100 gauges hardly changed, but the Stoxx 600 index in Europe increased to its highest level since June 24. As investors awaited the Federal Reserve's most recent meeting's minutes to determine its policy intentions, the yield curve on the two- and 10-year US government bonds remained inverted. For a fourth day, the dollar increased.
Despite the fact that bargain hunters chasing technology stocks helped raise US market indices on Tuesday, it only served to conceal a worsening decline in stocks related to economic activity, such as energy, commodity, and industrial names. Even as central banks tighten monetary policy to control consumer prices, a new uptick in covid cases in China and a deteriorating gas crisis in Europe heralded the beginning of a global slowdown.
EU will convene an extraordinary energy ministers council on July 26th.
German Industrial Orders MoM Actual 0.1% (Forecast -0.5%, Previous -2.7%)
Nigerian national petroleum corporation's Kyari says on Twitter OPEC Secretary-General Barkindo has died.
