U.S. Stock Futures Are Higher After Yesterday's Sell Off in All Three Major Indexes #OilPrices #StockMarket #Evergrande
U.S. stock futures are higher: Markets are expected to open higher after yesterday’s sell off in all three major indexes. Bonds yields on the 30y are trading above 2% & the 10y is edging around 1.50% and this plus negative headlines concerning social media stocks have precipitated a pullback in tech shares. Oil prices hit a 7-year high following OPEC+ decision not to increase the daily production levels – WTI is trading at roughly $78 per barrel. Higher energy prices contribute to investor’s concerns about possibly higher inflation. Additionally, natural gas futures are up roughly 3% in morning trading. Increasing demand and a potentially colder winter combined with supply/production issues are the primary reason for higher prices. Declines in US stock prices pressured Asian share lower and questions about Chinese property companies’ liquidity issues, specifically Evergrande and Fantasia Group, are still pending. European shares are higher in line with U.S futures.