Stock Futures Inch Higher Ahead of Fed Minutes

U.S. stock futures edged up ahead of the release of minutes from the Federal Reserve’s recent meeting, which will be combed for details on the path of interest-rate rises aimed at cooling inflation.

Futures on the S&P 500 were up 0.3% and futures tied to the Dow Jones Industrial Average gained 0.3%. Changes in futures don’t necessarily predict moves after the markets open.

In Europe, the Stoxx Europe 600 climbed 0.8% in morning trade. Gains were led by financials and industrials sectors.

The U.K.’s FTSE 100 rose 0.5%. Other stock indexes in Europe also mostly climbed as France’s CAC 40 added 0.5%, the U.K.’s FTSE 250 added 0.7% and Germany’s DAX gained 0.7%.

The Swiss franc, the euro and the British pound dropped 0.3%, 0.5% and 0.1% respectively against the U.S. dollar.

In commodities, international benchmark Brent crude was up 1% to $111.79 a barrel. Gold declined 0.5% to $1,856.60 a troy ounce.

The yield on German 10-year bunds strengthened to 0.969% and U.K. 10-year gilts yields rose to 1.903%. 10-year U.S. Treasury yields edged up to 2.764% Wednesday from 2.758% on Tuesday. Bond yields and prices move inversely.

In Asia, indexes were mixed as Hong Kong’s Hang Seng climbed 0.6% and China’s benchmark Shanghai Composite gained 1.2%, whereas Japan’s Nikkei 225 index was down 0.3%.

The tech-focused Nasdaq Composite closed down about 2.4% on Tuesday.


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