{"id":57041,"date":"2023-09-05T07:45:09","date_gmt":"2023-09-05T11:45:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stock-futures-slide-as-sour-news-on-global-economy-hits-sentiment\/"},"modified":"2023-09-05T07:45:11","modified_gmt":"2023-09-05T11:45:11","slug":"u-s-stock-futures-slide-as-sour-news-on-global-economy-hits-sentiment","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57041","title":{"rendered":"U.S. stock futures slide as sour news on global economy hits sentiment"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002469417\" role=\"document\">\n<p>U.S. stock index futures slipped early Tuesday as rising bond yields defied dour economic news from China and Europe.<\/p>\n<h2>How are stock-index futures trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"negative\">-0.19%<\/bg-quote><br \/>\n       dipped 20 points, or 0.4%, to 4502<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"negative\">-0.08%<\/bg-quote><br \/>\n       fell 119 points, or 0.3%, to 34763<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"negative\">-0.38%<\/bg-quote><br \/>\n       eased 95 points, or 0.6%, to 15421<\/p>\n<\/li>\n<\/ul>\n<p>On Friday, the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       rose 116 points, or 0.33%, to 34838, the S&amp;P 500<br \/>\n        SPX<br \/>\n       increased 8 points, or 0.18%, to 4516, and the Nasdaq Composite<br \/>\n        COMP<br \/>\n       dropped 3 points, or 0.02%, to 14032. U.S. markets were closed on Monday for the Labor Day break.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>U.S. traders returned from the Labor Day holiday with global markets in a generally risk-off mood after more disappointing news from the world\u2019s second biggest economy. <\/p>\n<p>A Caixin survey showed China\u2019s service sector expanded in August at its slowest pace in eight months, providing further evidence that the country\u2019s post-pandemic recovery is faltering. <\/p>\n<p>Also, a eurozone survey showed output in the bloc contracting at its fastest pace in nearly three years.<\/p>\n<p>Asian and European bourses mostly turned lower, affecting U.S. equity index futures.<\/p>\n<p>\u201cSentiment has turned downbeat again on China as fresh brushstrokes are painted on the picture of its slowing economy,\u201d said Susannah Streeter, head of money and markets, Hargreaves Lansdown.<\/p>\n<p>\u201cThe data has overshadowed relief that the struggling property giant Country Garden<br \/>\n        2007,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201681083\/delayed\" class=\"negative\">-0.98%<\/bg-quote><br \/>\n       has managed to make key interest payments on its debt, reducing, for now, concerns about contagion in the financial sector. China appears to be taking one step forward, but two steps back, as optimism one day turns to pessimism the next,\u201d Streeter added.<\/p>\n<p>Concerns about economic growth might be expected to support sovereign debt markets, but here too the tone was grim, with Treasury yields rising amid concerns recent increases in oil prices<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-0.28%<\/bg-quote><br \/>\n       \u2013though down a bit on Tuesday \u2014 may revive inflationary pressures.<\/p>\n<p>\u201cOil prices have surged to reach new highs in 2023, a development poised to have significant repercussions on the upcoming August consumer price index reports\u2026[which] presents a fresh challenge for central banks as they continue their diligent efforts to bring inflation levels back in line with their desired targets,\u201d said Stephen Innes, managing partner at SPI Asset Management.<\/p>\n<p>\u201cThis growing concern has notably impacted sovereign bonds, triggering a sell-off primarily driven by heightened inflation expectations. And, of course, stocks do not like the cut of that new inflation jib,\u201d Innes added.<\/p>\n<p>U.S. economic updates set for release on Tuesday include July factory orders, due at 10 a.m. Eastern.<\/p>\n<h2>Companies in focus<\/h2>\n<p><strong>Blackstone Inc.<\/strong><br \/>\n        BX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203156858\/composite\" class=\"negative\">-1.77%<\/bg-quote><br \/>\n       rose 4% in premarket trade, while shares of <strong>Airbnb Inc.<\/strong><br \/>\n        ABNB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/222990650\/composite\" class=\"positive\">+0.87%<\/bg-quote><br \/>\n       were up  5%  after S&amp;P Dow Jones Indices announced that both names would gain inclusion in the S&amp;P 500 index. The changes take effect before the start of trading Sept. 18. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-stock-futures-slide-as-sour-news-on-global-economy-hits-sentiment-89f299fa?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock index futures slipped early Tuesday as rising bond yields defied dour economic news from China and Europe. How are stock-index futures trading S&amp;P 500 futures ES00, -0.19% dipped 20 points, or 0.4%, to 4502 Dow Jones Industrial Average futures YM00, -0.08% fell 119 points, or 0.3%, to 34763 Nasdaq 100 futures NQ00, -0.38% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-57041","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stock futures slide as sour news on global economy hits sentiment | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock index futures slipped early Tuesday as rising bond yields defied dour economic news from China and 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