Futures for US Stocks Drop as AMD and Alphabet Fall – Europe Market Wrap
US market futures declined as investors navigated the trade conflict and a busy slate of earnings from some of the world’s largest firms.
Nasdaq 100 futures were down 0.9% as Alphabet and AMD fell in US pre-market trade following weak earnings. S&P 500 contracts declined 0.5%, implying that Wall Street’s recovery may be short-lived. While the early volleys in the next US-China trade battle demonstrated that Xi is being more cautious than during Trump’s first term, tariff worries remain at the forefront.
The Yen strengthened versus the Dollar, and gold reached a record high due to haven demand. The 10-year Treasury yield fell, and a Dollar strength index extended losses, as US job postings fell more than expected in December to a three-month low.
In commodities, oil fell as fears that the trade war will harm global growth outweighed the news of tougher penalties against Iran.
[03:36 ET] China weighs probe into Apple’s app store fees and practices. $AAPL [US Stock Indexes weakened]
