US Equity Futures Climb After Rebound in Crypto: INDIAN MARKETS to Go Green

 



Asian stocks fell Monday and US equity futures erased a climb as tightening monetary policy kept sentiment in check.

MSCI Inc.’s gauge of Asia-Pacific shares hit the lowest since June 2020 amid drops in Japan and Hong Kong and mixed performance in China, where banks kept their main lending rates unchanged

S&P 500 contracts turned lower, while those for the Nadsaq 100 reversed a gain of more than 1%.


Bitcoin slid anew, sinking back below the closely-watched $20,000 mark. A volatile crypto slump has become emblematic of the pressure on a range of assets from sharp Federal Reserve interest-rate hikes to tame high inflation.

The dollar was mixed against key peers. Crude oil added to a near-7% Friday plunge. Treasury futures advanced — there’s no cash trading as Wall Street is closed Monday for a holiday.


Markets are set to remain on edge amid elevated price pressures and concern that monetary tightening in a range of nations portends more losses.

“Data over the coming months will indeed point to the need for a greater degree of tightening, and market prices will need to adjust,” Sonal Desai, chief investment officer at Franklin Templeton Fixed Income, wrote in a note.

In the latest Fed commentary, Governor Christopher Waller said he would support another 75-basis-point rate increase at the central bank’s July meeting should economic data come in as he expects.

Bank of Cleveland Fed President Loretta Mester said the risk of a US recession is increasing.

The post US Equity Futures Climb After Rebound in Crypto: INDIAN MARKETS to Go Green first appeared on OUR INDIA BUSINESS.

The post US Equity Futures Climb After Rebound in Crypto: INDIAN MARKETS to Go Green appeared first on OUR INDIA BUSINESS.

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