U.S. stock futures dropped on Monday, putting major indexes on track to extend their recent bout of choppy trade.

S&P 500 futures declined 0.8% and futures tied to the Dow Jones Industrial Average slipped 0.4%. The contracts don't necessarily predict movements after the markets open.

Europe stocks meanwhile advanced. The Stoxx Europe 600 rose 0.7% in morning trade. Consumer discretionary and consumer staples sectors led gains while utilities and information technology sectors lost ground.

Carnival climbed 7.1%. Micro Focus International fell 6% for a two-day losing streak.

The U.K.'s FTSE 100 added 0.5%. Other stock indexes in Europe also mostly climbed as France's CAC 40 gained 0.5%, the U.K.'s FTSE 250 climbed 0.6% and Germany's DAX added 0.6%.

The Swiss franc and the euro dropped 0.2% and 0.1% respectively against the U.S. dollar whereas the British pound was up 0.2% against the dollar, with 1 pound buying $1.38.

In commodities, Brent crude gained 1.1% to $70.10 a barrel. Gold was down 0.1% to $1,696.00 a troy ounce.

German 10-year bund yields strengthened to minus 0.288% and 10-year gilts yields were up to 0.765%. The 10-year U.S. Treasury yield rose to 1.594% from 1.551% on Friday. Bond yields move in the opposite directions to prices.

Stocks in Asia mostly slipped as Hong Kong's Hang Seng fell 1.6% after trading higher 1% during the session, Japan's Nikkei 225 index was lower 0.4% after gaining 1.2% earlier, and China's benchmark Shanghai Composite lost 2.3%.

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(END) Dow Jones Newswires

March 08, 2021 03:53 ET (08:53 GMT)

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