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Stock futures tick higher after S&P 500 hits record

U.S. stock futures edged up to start the week after the S&P 500 hit a record close on the heels of inflation figures that were the highest in decades.

S&P 500 futures strengthened 0.2% and futures tied to the Dow Jones Industrial Average gained 0.2%. The contracts don’t necessarily predict moves after the opening bell.

In Europe, the Stoxx Europe 600 climbed 0.2% in morning trade as gains in energy and financials sectors were muted by losses in utilities and consumer discretionary sectors.

FED DECISION, INFLATION DATA, FEDEX AND RIVIAN EARNINGS TOP WEEK AHEAD

Traders Gordon Charlop, left, and John Panin work on the floor of the New York Stock Exchange, Tuesday, Feb. 6, 2018. (AP)

Ackermans & Van Haaren NV jumped 3.9% for a three-session run of gains and Jupiter Fund Management PLC rose 3.7%.

The U.K.’s FTSE 100 was broadly flat. Other stock indexes in Europe were mixed as France’s CAC 40 and the U.K.’s FTSE 250 were largely flat and Germany’s DAX added 0.2%.

The Swiss franc, the euro and the British pound were down 0.2%, 0.1% and 0.1% respectively against the U.S. dollar.

In commodities, Brent crude was up 0.9% to $75.81 a barrel. Gold also gained 0.1% to $1,787.20 a troy ounce.

OIL RISES ON OPTIMISM OMICRON IMPACT WILL BE LIMITED ON FUEL DEMAND

German 10-year bund yields gained to minus 0.340% and U.K. 10-year gilts yields declined to 0.742%. The 10-year U.S. Treasury yield was up to 1.492% from 1.487% on Friday. Yields move inversely to bond prices.

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Indexes in Asia mostly climbed as Hong Kong’s Hang Seng was flat after adding 1.6% earlier, Japan’s Nikkei 225 index added 0.7% and China’s benchmark Shanghai Composite rose 0.4%.


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