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Tuesday, April 13, 2021

Stocks: Investors pause after 6-week losing streak

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NEW YORK (CNNMoney) — U.S. stocks were poised to start the week little changed Monday, following a six-week losing streak sparked by fears of an economic slowdown.

Dow Jones industrial average, S&P 500 and Nasdaq futures were up modestly ahead of the opening bell. Futures measure current index values against perceived future performance.

U.S. stocks tumbled Friday, with each of the three key indexes falling more than 1%, and the Dow ending below 12,000 for the first time in months. Overall, the Dow has fallen 3.7% since the beginning of June. The Nasdaq is now negative for 2011.

While no major U.S. economic data is on tap Monday, Wall Street faces a data-heavy schedule this week that is expected to bring more volatility to a market full of investors weary from six consecutive weeks of losses.

World markets: European stocks were mostly lower in morning trading. Britain’s FTSE 100 tumbled 1.4%, the DAX in Germany fell 0.2% and France’s CAC 40 was unchanged.

Asian markets ended the session mixed. The Shanghai Composite lost 0.2% and Japan’s Nikkei slumped 0.7%, while the Hang Seng in Hong Kong added 0.4%.

China is slated to release its latest consumer price index data overnight. Investors will be looking at the report closely for any hints of a slowdown in growth.

Currencies and commodities: The dollar edged up against the euro and the Japanese yen, but slipped versus the British pound.

Oil for July delivery slipped 90 cents to $98.39 a barrel.

Gold futures for August delivery fell $3.30 to $1,525.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged slightly lower, pushing the yield up to 2.98% from 2.97% late Friday.

The-CNN-Wire/Atlanta/+1-404-827-WIRE(9473)

TM & © 2011 Cable News Network, Inc., a Time Warner Company. All rights reserved.

 

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