Stock Futures Slip, Oil Prices Jump

May 31, 2022 3:39 a.m. ET

US stock futures fell and crude oil prices extended recent gains after the European Union pledged to limit oil purchases from Russia.

S&P 500 futures fell 0.3 percent and Dow Jones Industrial Average futures fell 0.3 percent. Contracts do not necessarily predict movements after the market opens.

International benchmark Brent crude rose 1.5% to $119.33 a barrel. West Texas Intermediate, the US crude benchmark, rose more than 3% to $118.73 a barrel.

In Europe, the Stoxx Europe 600 lost 0.3% in morning trading. The industrial and financial sectors led to losses while the consumer and energy sectors gained.

Britain’s FTSE 100 rose 0.2%. Other stock indexes in Europe were mostly down, with France’s CAC 40 down 0.4%, Britain’s FTSE 250 down 0.2% and Germany’s DAX down 0.5%.

The Swiss franc, euro and British pound depreciated 0.4%, 0.3% and 0.3% against the US dollar, respectively.

Elsewhere, gold was flat, at $1,857.70 an ounce.

The German 10-year bundle yield fell to 1.047% and the yield on the British government’s 10-year debt so-called gilt was reduced to 1.985%. The yield on the 10-year US Treasury note rose to 2.817% from 2.748 percent on Friday. Yields move in the opposite direction of price.

In Asia, indexes were mixed, with Hong Kong’s Hang Seng up 0.9% and China’s Shanghai Composite up 1.2%, while Japan’s Nikkei 225 fell 0.3%.

Traders worked on the floor of the New York Stock Exchange on Friday.


Image:

Courtney Crow / Zuma Press

—An artificial intelligence engine was used to create this article.

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https://www.wsj.com/articles/global-stocks-markets-dow-update-05-31-2022-11653982716?mod=rss_markets_main Stock Futures Slip, Oil Prices Jump

Edmund DeMarche

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