US equity futures dropped along with European stocks Monday as traders await the key second-quarter earnings season for indications on how companies are weathering the inflation storm
Contracts on the S&P 500 and Nasdaq 100 were lower, suggesting last week’s rally in US stocks my stall. Twitter shares slumped in premarket trading after Elon Musk terminated his US$44 billion takeover approach for the social media company. The Stoxx Europe 600 index shed about 0.5 per cent, with carmakers and miners among the worst-performing sectors as concerns about China’s COVID resurgence also weighed on risk appetite.
Price pressures, a wave of monetary tightening and a slowing global economy continue to shadow markets. A US inflation reading later this week is expected to get closer to 9 per cent, a fresh four-decade high, buttressing the Federal Reserve’s case for a jumbo July interest-rate hike. Company earnings will shed light on recession fears that contributed to an US$18 trillion first-half wipe-out in global equities.
Chinese stocks had their worst day in about a month as a COVID resurgence combined with fresh fines for the tech giants sent investors running for the door. An Asian equity gauge shed 1 per cent. Japan was a bright spot, buoyed by the prospect of administrative stability after the ruling coalition expanded its majority in an upper house election.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter hires U.S. law firm Wachtell to sue Elon Musk after he pulled out of US$44-billion dealTWITTER-M-A-MUSK-LAWSUIT:Twitter hires U.S. law firm Wachtell to sue Musk after pulling out of $44 billion deal - sources
Read more »
Twitter hires U.S. law firm Wachtell to sue Musk after pulling out of $44 bln deal: sourcesMusk, the chief executive officer of Tesla, on Friday terminated his deal, saying Twitter had failed to provide information about fake accounts on the platform
Read more »
Twitter hires U.S. law firm Wachtell to sue Musk after pulling out of $44B deal: Reuters sourcesTwitter Inc TWTR.N has hired U.S. law firm Wachtell, Lipton, Rosen & Katz LLP as it prepares to sue Elon Musk and force him to complete the $44 billion acquisition of the social media company, according to people familiar with the matter.
Read more »
Canadian cannabis giant Tilray offers U.S. workers coverage for abortion-related costsThe cannabis company will cover travel and accommodation expenses, as well as provide paid time off, for those who must travel out of state for the procedure. — via TheGrowthOp cannabiscommunity cannabisculture cannabisnews tilray
Read more »
Canadian cannabis giant Tilray offers U.S. workers coverage for abortion-related costsThe cannabis company will cover travel and accommodation expenses, as well as provide paid time off, for those who must travel out of state for the procedure. — via TheGrowthOp cannabiscommunity cannabisculture cannabisnews tilray
Read more »