Markets Resume Trading After Holiday Observances with Equity Futures Ticking Lower and Yields Showing a Mixed Trend in the Pre-Market.
U.S. stock futures are lower. Markets are resuming trading after holiday observances, with equity futures ticking lower and yields showing a mixed trend in the pre-market. This week, investors will continue their focus on economic data and the Federal Reserve, as they prepare for the start of the earnings season next week. Adding to Fed commentary will be continued Fed speak and the release of the June FOMC minutes this afternoon at 2 PM. In international markets, Asian stocks closed lower in response to PMI data from Japan and China, which indicated a softening of growth while remaining in expansion territory. Additionally, the decision of the Australian central bank to keep rates unchanged yesterday also impacted sentiment. European markets are on a slight decline in afternoon trading, influenced by the decline in Euro area PMIs for June. Crude oil received a boost on Monday following voluntary supply cuts announced by Russia and Saudi Arabia, before retracing some of its gains yesterday. This morning, WTI Crude is gaining, while Brent Crude remains mostly unchanged. Gold prices are trading higher, while the U.S. Dollar is holding steady.