Stocks Retreat After S&P 500 Record; Yields Steady: Markets Wrap

(Bloomberg) — Futures followed stocks lower Monday as investors braced for a flood of earnings amid doubts about an uneven economic recovery.

U.S. equity futures slipped across the board following a third straight week of gains and fresh records for the S&P 500 Index. In Europe, retailers and travel companies led declines on the Stoxx Europe 600 Index.

The yield on 10-year Treasuries steadied before a round of auctions that will be widely watched for their potential to extend the rate surge that’s shaken stocks to commodities to emerging markets this year. The U.S. sells three-, 10- and 30-year Treasuries at the start of the week.

While the U.S. recovery is accelerating, parts of Europe and South America are beset by rising Covid-19 cases and troubled vaccination rollouts. The rotation toward cyclical and small-cap stocks appears to have stalled as well, prompting worry about the strength of the U.S. economic comeback at the start of earnings season.

“The breakdown of small caps and cyclicals is a potential early warning sign that the actual reopening of the economy will be more difficult than dreaming about it,” Morgan Stanley strategist Mike Wilson wrote in a client note.

Oil rose and Bitcoin neared an all-time high before a listing by the largest U.S. cryptocurrency exchange.

Elsewhere, traders will be watching for any further escalation between Russia and Ukraine, after Russia warned that growing violence in Ukraine could set off a broader military conflict.

Some key events to watch this week:

Banks and financial firms begin reporting first-quarter earnings, including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Morgan Stanley, Goldman Sachs Group Inc.U.S. officials and company executives are due to discuss the global shortage of computer chips on Monday.The U.S. releases inflation data Tuesday.Chinese trade data are scheduled for Tuesday.Economic Club of Washington hosts Fed Chair Jerome Powell for a moderated Q&A on Wednesday.U.S. Federal Reserve releases Beige Book on Wednesday.U.S. data including initial jobless claims, industrial production and retail sales come Thursday.China economic growth, industrial production and retail sales figures are on Friday.

These are some of the main moves in financial markets:


Futures on the S&P 500 Index sank 0.2% as of 6:42 a.m. New York time.The Stoxx Europe 600 Index sank 0.2%.The MSCI Asia Pacific Index decreased 0.7%.The MSCI Emerging Market Index fell 0.9%.


The Bloomberg Dollar Spot Index dipped 0.1%.The euro gained 0.1% to $1.1911.The British pound jumped 0.4% to $1.3755.The onshore yuan strengthened 0.1% to 6.546 per dollar.The Japanese yen strengthened 0.3% to 109.31 per dollar.


The yield on 10-year Treasuries climbed less than one basis point to 1.66%.The yield on two-year Treasuries increased less than one basis point to 0.15%.Germany’s 10-year yield fell one basis point to -0.32%.Japan’s 10-year yield declined less than one basis point to 0.108%.Britain’s 10-year yield advanced one basis point to 0.782%.


West Texas Intermediate crude increased 1.1% to $59.95 a barrel.Brent crude gained 1.2% to $63.70 a barrel.Gold weakened 0.1% to $1,741.53 an ounce.


RSS Latest Press Release

  • Smart Toilet Market Size to Reach $15181.4 Million by 2027
    Global Smart Toilet Market is valued at USD 7452.1 Million in 2020 and Anticipated to reach USD 15181.4 Million by 2027 with a Growing CAGR of 10.7% over the forecast period. Global Smart Toilet Market: Global Size, Trends, Competitive, Historical & Forecast Analysis 2021-2027, Rising adoption of innovative hygiene technologies such as UV lighting, supportive […]
  • Ideal Keepsake Boxes Add an Extra Touch to Saving Beautiful Memories
    Dallas, TX: November 29, 2021 – Family business Wayfaren is delighted to announce the release of its beautifully understated Keepsake Boxes - an ideal gift for loved ones to safely store treasured memories.   Their Keepsake Boxes, available in either maple or walnut, are thoughtfully designed and meticulously crafted for those who don't want to sacrifice style […]
  • Guru Printers Provides Exceptional Service in Sheet Labelling
    Los Angeles: November 29, 2021 – When it comes to branding your business in the right way, Guru Printers have developed a series of eye-catching solutions to enable companies to stand out from competitors.   With over a decade of printing experience, the Los Angeles-based company has created a robust line of printing services to meet […]
  • Plasterfix Australia Delivers Professional Plaster Solutions for Home and Business
    Alexandria NSW – Plasterfix Australia has increasingly become the go-to plastering services company for businesses and homeowners who are looking for a professional and perfect finish.   Plasterfix is anchored by the skills of master craftsman Pedro Pires, who has been honing the craft of plastering for 30 years. He learnt from his father, who passed […]