(Bloomberg) — U.S. futures edged lower ahead of retail sales data for July, while European stocks slumped as fresh quarantine rules took hold in the U.K. Treasury yields declined after rising for five days and the dollar was steady.
The Stoxx Europe 600 Index sank after Britain added France, the Netherlands and Malta to its list of countries from which people arriving have to quarantine for 14 days. EasyJet Plc fell as much as 8% and British Airways owner IAG SA by as much as 7%.
Gold edged lower and oil headed for a second weekly advance, while the euro remained on track for its eighth straight week of gains versus the greenback.
Traders continue to bank on further fiscal stimulus to help the nascent recovery, after U.S. and Asian stocks erased most of their pandemic-related losses. Retail sales figures on Friday will offer clues about the health of the consumer recovery following a report that showed weekly jobless claims in the U.S. dropped below 1 million for the first time since March.
On the virus front, Joe Biden said U.S. governors should require masks for the next three months, while New Zealand recorded 12 new confirmed local cases of the coronavirus. Germany added the most new cases since May, while the head of the French Health Agency Jerome Salomon said the situation in his country is worsening.
Here are some key events coming up:
U.S.-China trade talks are expected in coming days.
These are the main moves in markets:
Stocks
Futures on the S&P 500 Index declined 0.3% as of 6:35 a.m. New York time.The Stoxx Europe 600 Index sank 1.5%.The MSCI Asia Pacific Index fell 0.1%.The MSCI Emerging Market Index fell 0.3%.
Currencies
The Bloomberg Dollar Spot Index was little changed.The euro declined 0.1% to $1.1805.The British pound jumped 0.2% to $1.3098.The onshore yuan weakened 0.1% to 6.95 per dollar.The Japanese yen strengthened 0.2% to 106.70 per dollar.
Bonds
The yield on 10-year Treasuries sank three basis points to 0.69%.The yield on two-year Treasuries decreased one basis point to 0.16%.Germany’s 10-year yield dipped one basis point to -0.42%.Britain’s 10-year yield climbed less than one basis point to 0.247%.Japan’s 10-year yield rose two basis points to 0.051%.
Commodities
West Texas Intermediate crude declined 0.6% to $42 a barrel.Brent crude dipped 0.5% to $44.73 a barrel.Gold weakened 0.3% to $1,948.65 an ounce.
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