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(Bloomberg) — U.S. stock futures fell as earnings season began with a series of disappointing results.
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Shares of major U.S. banks, including JPMorgan Chase, Bank of America and Wells Fargo, fell more than 2% after trading revenue fell short of expectations. The S&P 500’s loss widened to 0.3%.
Declining corporate profits and the threat of broader war in the Middle East complicate the market’s bullish outlook for 2024.
West Texas Intermediate crude rose 4% after the United States and its allies launched a joint military offensive against Yemen’s Houthi rebels.
Rising oil prices have spilled over into commodity currencies such as the Canadian dollar and Norwegian krone. Europe’s Stoxx 600 index rose as much as 1%, supported by energy companies Total Energy SE and Shell.
In pre-market trading, losses in crypto stocks widened after the first U.S. Bitcoin exchange-traded fund began operations on Thursday, with $4.6 billion worth of shares changing hands on its first day of trading.
stock
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As of 7:06 a.m. New York time, S&P 500 futures were down 0.3%.
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Nasdaq 100 futures fell 0.4%
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Dow Jones Industrial Average futures fell 0.4%.
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Stoxx European 600 rose 0.5%
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MSCI World Index rose 0.2%
currency
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Bloomberg Dollar Spot Index little changed
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The euro fell 0.2% to $1.0951.
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The British pound fell 0.3% to $1.2727.
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The Japanese yen remained almost unchanged at 145.20 yen to the dollar.
cryptocurrency
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Bitcoin fell 0.4% to $45,958.31.
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Ether rose 2.1% to $2,659.16
bond
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The 10-year US Treasury yield rose 3 basis points to 4.00%.
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Germany’s 10-year bond yield fell 2 basis points to 2.21%.
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UK 10-year bond yields fell 2 basis points to 3.82%.
merchandise
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West Texas Intermediate crude rose 3.7% to $74.72 per barrel.
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Spot gold rose 1% to $2,048.52 an ounce.
This article was produced in partnership with Bloomberg Automation.
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