Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
The Breakfast Briefing: Dow Futures Lower Ahead As Investors Await Powell’s Speech
.The big focus this Tuesday is on the Federal Reserve. .Jay Powell will give a testimony at 8:45 a.m. ET. .This comes just after a stronger-than-expected jobs report raised questions about the central bank’s rate policy.
U.S. stock index futures were lower on Tuesday morning, as traders waited to hear from Federal Reserve Chairman Jerome Powell.
European stocks opened with losses on Tuesday, led lower by chemicals firms, after a downbeat session in Asia.
BASF dropped 6% in Germany after the chemicals giant slashed its profit forecast on Monday evening, citing the continuing trade dispute between the U.S. and China as well as sluggish demand in the auto market. The warning prompted a drop in the stock of rivals such as Covestro AG , which fell 6%, and Lanxess, which declined 4%.
The pan-continental Stoxx Europe 600 lost 0.7%.
Also among the biggest losers in Europe were a number of major banks. Shares in Danske Bank were weighed down by a continuing money laundering scandal and after it published a profit warning Monday.
The yield on 10-year Treasurys ticked up to 2.054% from 2.030% on Monday. Regards Ted
