Stock Futures Point to Losses as Data Sows Doubt – Europe Market Wrap

US equity futures sank with European equities on a drop in energy companies, as Treasuries held onto gains from Monday’s rise sparked by signals that the US economy is slowing.

Contracts on the S&P 500 and Nasdaq 100 indicated drops at the start of Wall Street trading, as investors weighed concerns about America’s economic health against expectations that the Federal Reserve will decrease interest rates in the fourth quarter. BP and TotalEnergies fell at least 3%, bringing down Europe’s Stoxx 600 Index by 0.7%.

The 30-year Treasury yield remained at 4.53%, the lowest level since May 23, as US manufacturing data released on Monday supported Fed rate expectations.