Stock Market Today: Dow, S&P Live Updates for Jun. 29, 2021 - Bloomberg

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Stocks were mixed and U.S. futures fluctuated on Tuesday amid concerns a more infectious Covid-19 strain will derail the economic recovery. Treasuries and the dollar steadied after gains.

The Stoxx Europe 600 Index opened 0.4% higher, though new limits on travel from Britain dragged on cruise operators and airlines. An MSCI index of Asia-Pacific shares was on track for its first decline in six days as countries in the region struggle to contain the highly transmissible Delta variant of the virus.

S&P 500 futures were little changed after technology stocks led U.S. benchmarks to fresh records Monday in a resurgence of the stay-at-home trade. The Treasury yield curve flattened amid month-end index rebalancing and the break in auctions until July 12, reducing supply. Oil slipped and gold headed for the biggest monthly drop in more than four years.

Global stocks are poised to close out their fifth quarterly advance amid a worldwide vaccine rollout that powered an economic recovery and sparked concerns about increasing prices pressures and the withdrawal of stimulus measures. The recovery also drove the reflation trade as more economies reopened, though that is being hampered as some countries, especially in Asia, are falling behind in their vaccine strategies.

“The Delta variant has also emerged in our client conversations as a potential threat to reflation/inflation,” JPMorgan Chase & Co. strategists led by Marko Kolanovic said. “The economic consequences are likely to be limited given progress on vaccinations across developed market economies. It could, however, pose some risk of a delay in the recovery in countries where vaccination rates remain lower.”

Read: Asean Equities May Have Priced In Virus Setback: Taking Stock

For more market commentary, follow the MLIV blog.

Here are some events to watch in the markets this week:

• OECD meets in Paris to finalize a proposal to overhaul global minimum corporate taxation Wednesday
• China’s President Xi Jinping will deliver a speech as the nation marks the 100th anniversary of the founding of the Chinese Communist Party Thursday
• OPEC+ ministerial meeting Thursday
• ECB President Christine Lagarde speaks Friday
• The U.S. jobs report is due Friday

These are some of the main moves in markets:

Stocks

• The Stoxx Europe 600 rose 0.4% as of 8:18 a.m. London time
• Futures on the S&P 500 were little changed
• Futures on the Nasdaq 100 fell 0.1%
• Futures on the Dow Jones Industrial Average rose 0.2%
• The MSCI Asia Pacific Index fell 0.6%
• The MSCI Emerging Markets Index fell 0.4%

Currencies

• The Bloomberg Dollar Spot Index was little changed
• The euro fell 0.1% to $1.1911
• The Japanese yen was little changed at 110.67 per dollar
• The offshore yuan was unchanged at 6.4630 per dollar
• The British pound fell 0.1% to $1.3863

Bonds

• The yield on 10-year Treasuries was little changed at 1.48%
• Germany’s 10-year yield was little changed at -0.19%
• Britain’s 10-year yield advanced two basis points to 0.74%

Commodities

• Brent crude fell 0.1% to $74.60 a barrel
• Spot gold fell 0.2% to $1,774.83 an ounce

— With assistance by Joanna Ossinger, and Ranjeetha Pakiam

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