Stocks open lower on Wall Street, with energy companies recording some of the biggest losses as oil prices fall further. The S&P 500 Index was down 0.2% in the first few minutes of trading on Monday, and the Nasdaq was down by a similar amount. Benchmark US crude oil fell 2.9% to just over $ 66 a barrel, after falling 7.7% last week. This has helped bring down energy companies. Occidental Petroleum lost 2.3%. Companies continue to publish their latest quarterly earnings reports. Tyson Foods climbed 4.9% after producing a good newsletter. Bond yields remained stable.
THIS IS A CURRENT UPDATE. AP’s previous story follows below.
BEIJING (AP) – European stocks opened lower and Asian markets advanced on Monday after improving hiring in the United States and tightening anti-virus checks from China and Australia that threaten to weigh on economic recovery.
London and Frankfurt fell early in the session. Shanghai and Hong Kong closed higher. Japanese markets were closed for a public holiday.
Wall Street futures were lower after the benchmark S&P 500 ended last week at a new high following government data showing U.S. employers added more jobs in July than expected.
Investors were encouraged by rising corporate profits in the United States and the global increase in coronavirus vaccinations. But the spread of the delta variant has prompted some governments to reimpose controls on business and travel.
China has canceled airline flights as it tries to stop a wave of epidemics. Australia’s two most populous states have told the public to stay home except to go to work or for a handful of other reasons.
“The right question for everyone, including participants in financial markets, is when the lockdowns will occur in other economies,” Carl B. Weinberg of High Frequency Economics said in a report. “It’s central bankers’ worst nightmare coming true.”
In early trading, the FTSE 100 in London lost 0.3% to 7,100.82 and the DAX in Frankfurt lost 0.1% to 15,743.00. The CAC 40 in Paris changed little at 6,815.40.
On Wall Street, futures contracts for the S&P 500 and the Dow Jones Industrial Average fell 0.2%.
On Friday, the S&P 500 index rose 0.2% and the Dow Jones increased 0.4% after the Labor Department said employees added 943,000 workers in July, well above expectations, and that wages had increased. The S&P 500 ended up 0.9% for the week.
Economists said the report would give the Federal Reserve yet another reason to cut back on bond purchases that pump money into the financial system.
The Nasdaq fell 0.4% to 14,835.76.
In Asia, the Shanghai Composite Index gained 1.1% to 3,494.63 after Chinese exports rose 18.9% in July from a year earlier. The country’s global trade surplus was $ 56.6 billion.
Hong Kong’s Hang Seng gained 0.4% to 26,283.40. The Kospi in Seoul fell 0.3% to 3,260.42 and the S & P-ASX 200 in Sydney ended little change at 7,538.40.
India’s Sensex index rose less than 0.1% to 54,310.95. New Zealand and Jakarta fell while Bangkok gained.
China has cut most access to a city of 1.5 million people, canceled airline flights and told the public to avoid travel if possible after a series of cases linked to overseas travelers. sea infected with the delta variant.
Australia’s central bank governor Philip Lowe on Friday warned the economy is expected to contract in the quarter ending September after health emergencies were declared in New South Wales, where the population is located populated by Sydney, and Victoria, with Melbourne and big business.
In energy markets, benchmark US crude fell $ 2.75 per barrel to $ 65.53 in electronic trading on the New York Mercantile Exchange. The contract fell 81 cents on Friday to $ 68.28. Brent crude, the standard for international oil prices, fell from $ 2.67 to $ 68.03 per barrel in London. It fell 59 cents the previous session to $ 70.62.
The dollar edged down to 110.18 yen from 110.23 yen on Friday. The euro slipped to $ 1.1756 from $ 1.1758.
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.