Stock Futures Climb as Online Traders Send Silver Soaring
February 01 2021 - 4:15AM
Dow Jones News
U.S. stock futures climbed Monday, suggesting that the major
benchmarks will recover some ground following their worst week
since October.
S&P 500 futures rose 0.7% and Dow Jones Industrial Average
futures strengthened 0.6%. Contracts linked to the tech-heavy
Nasdaq-100 index gained 0.7%. Changes in futures don't necessarily
predict moves after the markets open.
Silver futures rose over 11% from Friday's close, fueled by a
wave of fresh enthusiasm from online traders. Silver has rallied in
recent trading sessions after users on Reddit's WallStreetBets
forum posted about executing a "short squeeze" similar to ones
credited with fueling recent gains in other stocks popular on the
internet.
Elsewhere in commodities, international benchmark Brent crude
rose 1.1% to $55.63 a barrel. Gold also gained 0.8% to $1,866.00 a
troy ounce.
Overseas, the Stoxx Europe 600 climbed 0.9% shortly after the
market opened. Industrials and energy sectors led gains while the
real-estate sector lost ground. The U.K.'s FTSE 100 gained
0.4%.
The Swiss franc was mostly flat against the U.S. dollar, with
one franc buying $1.12. The euro fell 0.1% against the dollar, with
1 euro buying $1.21. The British pound was up 0.1% against the U.S.
dollar, with 1 pound buying $1.37.
German 10-year bund yields declined to minus 0.518% from minus
0.515% and the 10-year gilts yield was down to 0.323% from 0.329%.
10-year U.S. Treasury yields rose to 1.082% from 1.064%. Yields
move inversely to prices.
Indexes in Asia mostly climbed. Hong Kong's Hang Seng gained
2.2%, Japan's Nikkei 225 index advanced 1.6%, and China's benchmark
Shanghai Composite climbed 0.6%.
-- An artificial-intelligence tool was used in creating this
article.
(END) Dow Jones Newswires
February 01, 2021 04:00 ET (09:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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