Stock Market Today: Dow, S&P Live Updates for Jul. 7, 2021 - Bloomberg

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Stocks were mixed and U.S. futures were steady Wednesday as investors awaited minutes from the Federal Reserve’s latest meeting for clues on policy makers’ thinking on the outlook for interest rates and stimulus. Treasuries stabilized after a rally.

The Stoxx Europe 600 Index climbed, led by gains in commodity sectors. Contracts on U.S. gauges were little changed after the S&P 500 Index slid on Tuesday and the Nasdaq 100 Index closed at a record. Asian stocks fell, with Chinese tech firms in Hong Kong retreating after Beijing’s cybersecurity probe of ride-hailing giant Didi Global Inc.

Ten-year Treasury yields stabilized after hitting February lows in U.S. hours. Oil extended gains amid the OPEC+ crisis, which has stymied efforts to raise production and buffeted prices.

With global stocks near all-time highs and inflationary pressures in focus, investors will pay close attention to the wording of the minutes from the Fed’s last meeting for clues on stimulus tapering. A rise in coronavirus cases caused by the spread of the delta variant is also threatening the worldwide economic recovery.

“We expect equities to grind higher in Q3, but risk-reward is less compelling and upside potential more limited, as catalysts have largely played out,” Barclays Plc strategists led by Emmanuel Cau wrote in a note. “Growth is peaking, Fed is moving closer to tapering, inflation may prove sticky and Covid variants could result in more supply bottlenecks, particularly in emerging markets.”

Elsewhere, copper climbed and gold advanced for a sixth day. Australian and New Zealand bonds rallied.

For more market commentary, follow the MLIV blog.

Here are some events to watch this week:

• FOMC minutes Wednesday
• The Group of 20 finance ministers and central bankers meet in Venice on Friday
• China PPI and CPI data released on Friday

These are some of the main moves in markets:

Stocks

• The Stoxx Europe 600 rose 0.4% as of 8:10 a.m. London time
• Futures on the S&P 500 were little changed
• Futures on the Nasdaq 100 rose 0.2%
• Futures on the Dow Jones Industrial Average were little changed
• The MSCI Asia Pacific Index fell 0.6%
• The MSCI Emerging Markets Index fell 0.5%

Currencies

• The Bloomberg Dollar Spot Index was little changed
• The euro was little changed at $1.1816
• The Japanese yen was little changed at 110.70 per dollar
• The offshore yuan rose 0.1% to 6.4727 per dollar
• The British pound was little changed at $1.3790

Bonds

• The yield on 10-year Treasuries advanced one basis point to 1.36%
• Germany’s 10-year yield was little changed at -0.27%
• Britain’s 10-year yield was little changed at 0.63%

Commodities

• Brent crude rose 0.8% to $75.16 a barrel
• Spot gold rose 0.3% to $1,803.29 an ounce

— With assistance by Claire Ballentine, and Lu Wang

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