finance

U.S. Equity Futures Rise 0.4 Percent as Nasdaq 100 Gains 1.1 Percent

U.S. stock futures advanced Monday morning after the long weekend. Asian markets closed mixed while several European companies moved on takeover news.

4 sources·Jul 6, 9:45 AM(3 hrs ago)·2m read

U.S. Equity Futures Rise 0.4 Percent as Nasdaq 100 Gains 1.1 Percent

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U.S. equity futures pointed higher Monday morning after the long weekend, with S&P futures up 0.4 percent and Nasdaq 100 futures up 1.1 percent as most of the so-called Mag 7 names traded in positive territory. Chip and memory stocks led the rebound after the GS High Beta Momentum basket fell 18 percent over the previous two sessions and headed for its second-worst month in more than 15 years.

Asian markets closed mixed. South Korea’s Kospi index fell after earlier gains of as much as 3 percent. The MSCI Asia Pacific Index finished unchanged after dropping as much as 0.7 percent. Samsung Electronics is scheduled to release preliminary second-quarter earnings Tuesday.

The Stoxx 600 slipped 0.2 percent to 651.15 after touching a record high earlier in the session. EasyJet shares jumped as much as 11 percent after the airline accepted a takeover offer from Castlelake at 690 pence per share. ITV rose after agreeing to sell its Media and Entertainment arm to Sky.

Thales said it intends to make a tender offer for Exail. The Bloomberg Dollar Spot Index rose 0.2 percent, with the dollar strongest against the yen as USD/JPY reached 162.31, still below last week’s peak of 162.84. The 10-year Treasury yield fell 2 basis points to 4.46 percent.

Brent crude traded about 0.4 percent lower at $71.82 a barrel after OPEC+ members agreed to raise collective production quotas by 188,000 barrels a day for August. Spot gold fell roughly 0.7 percent. In premarket trading, Meta rose 1.4 percent, Tesla gained 1.3 percent and Amazon added 0.7 percent.

Nvidia edged 0.3 percent higher while Apple slipped 0.6 percent. Datadog fell 2.4 percent after Bernstein downgraded the stock to market perform. Kosmos Energy climbed 4 percent after the company raised second-quarter production guidance at its Jubilee field in Ghana to about 72,000 barrels a day.