Stock futures rise, oil prices slip on plan to exploit oil reserves

March 31, 2022 3:42 a.m. ET

U.S. stock futures rose and crude prices fell amid reports that the White House plans to tap the country’s oil reserves to control rising gasoline prices.

S&P 500 futures gained 0.3% and Dow Jones Industrial Average futures rose 0.2%. Changes in futures contracts do not necessarily predict movements after the markets open.

In Europe, the Stoxx Europe 600 rose 0.2% in morning trade, as gains in the healthcare and consumer staples sectors were partially offset by losses in the consumer discretionary and consumer staples sectors. real estate.

Industria de Diseño Textil fell 2.1% for a two-day losing streak and NEXT was down 4.8%.

Britain’s FTSE 100 climbed 0.2%. Other stock market indices in Europe also mostly rose, with France’s CAC 40 up 0.3% and Germany’s DAX 0.6%.

The Swiss franc, euro and pound sterling each appreciated 0.1% against the US dollar.

In commodities, Brent slid 3.5% to $107.50 a barrel. Gold was also down 0.3% at $1,933.40 per troy ounce.

The yield on the German 10-year Bund fell to 0.597% and yields on the UK 10-year gilts fell to 1.616%. The yield on the 10-year US Treasuries fell to 2.322% from 2.357%. Yields and prices move in opposite directions.

In Asia, indices were mostly down, with China’s benchmark Shanghai Composite down 0.4%, Hong Kong’s Hang Seng 0.5% and Japan’s Nikkei 225 index down 0.7%. %.

Traders worked on the floor of the New York Stock Exchange on Wednesday.


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

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