US Equities Look to End Worst Losing Run Since April – Europe Market Wrap
US equity futures rose modestly, indicating that Wall Street equities may eventually end a five-day losing streak, the longest since April.
Contracts for the S&P 500 rose 0.2%, while those for the tech-heavy Nasdaq 100 rose 0.3%. Tesla rose in premarket trading, recovering slightly from Thursday’s plunge caused by disappointing vehicle sales figures. United States Steel fell more than 9% after reports that Biden has decided to block Nippon Steel’s purchase of the company.
Stocks have had a tumultuous week, with the S&P 500 index showing intraday gains in the previous two sessions before closing lower. US manufacturing data due later will provide investors with hints about the economy’s health as they prepare for Donald Trump’s presidential inauguration 17 days away, which will reduce ambiguity about future US policies.
European stocks fell, with miners tumbling on concerns about Chinese demand. Stellantis dipped as much as 3.8% after some EV models that had previously obtained US tax subsidies for electric vehicles were barred under stricter criteria.
