Oil prices rise, stock futures falter after volatile session


The New York stock exchange.


Photo:

Allie Joseph/Associated Press

March 11, 2022 3:38 a.m. ET

Oil prices rose again and stock futures faltered as Russia stepped up its attacks on the Ukrainian city of Mariupol.

S&P 500 futures traded flat and Dow Jones Industrial Average futures traded broadly flat. Changes in futures contracts do not necessarily predict market movements after the markets open. On Thursday, both indices closed lower.

In Europe, the Stoxx Europe 600 rose 0.6% on Friday. The Materials and Energy sectors led the gains, while the Consumer Staples sector lost ground. The UK’s FTSE 100 gained 0.9%. Other stocks in Europe were also mostly up, with the French CAC 40 gaining 0.4%, the FTSE 250 1.3% and the German DAX 0.6%.

In commodities, Brent rose 2.3% to $111.88 a barrel. Gold fell 0.3% to $1,994.80 per troy ounce.

The yield on 10-year US Treasuries fell to 1.980% from 1.994%. Yields on German 10-year Bunds fell to 0.261% from 0.275% and the yield on UK 10-year gilts fell to 1.514% from 1.523%. Yields and prices move in opposite directions.

The euro and British pound lost 0.3% and 0.1% respectively against the US dollar, while the Swiss franc was virtually unchanged against the dollar, with 1 franc buying $1.08.

Asian indices were mixed, with China’s benchmark Shanghai Composite gaining 0.4% after falling 2.3% during the session, while Hong Kong’s Hang Seng fell 1.2% and the Japanese Nikkei 225 index fell 2.1%.

—An artificial intelligence tool was used to create this article.

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