U.S. stock futures climbed Monday, suggesting that the major benchmarks will recover some ground following their worst week since October.
S&P 500 futures rose 0.7% and Dow Jones Industrial Average futures strengthened 0.6%. Contracts linked to the tech-heavy Nasdaq-100 index gained 0.7%. Changes in futures don’t necessarily predict moves after the markets open.
Silver futures rose over 11% from Friday’s close, fueled by a wave of fresh enthusiasm from online traders. Silver has rallied in recent trading sessions after users on Reddit’s WallStreetBets forum posted about executing a “short squeeze” similar to ones credited with fueling recent gains in other stocks popular on the internet.
Elsewhere in commodities, international benchmark Brent crude rose 1.1% to $55.63 a barrel. Gold also gained 0.8% to $1,866.00 a troy ounce.
Overseas, the Stoxx Europe 600 climbed 0.9% shortly after the market opened. Industrials and energy sectors led gains while the real-estate sector lost ground. The U.K.’s FTSE 100 gained 0.4%.
The Swiss franc was mostly flat against the U.S. dollar, with one franc buying $1.12. The euro fell 0.1% against the dollar, with 1 euro buying $1.21. The British pound was up 0.1% against the U.S. dollar, with 1 pound buying $1.37.
German 10-year bund yields declined to minus 0.518% from minus 0.515% and the 10-year gilts yield was down to 0.323% from 0.329%. 10-year U.S. Treasury yields rose to 1.082% from 1.064%. Yields move inversely to prices.
Indexes in Asia mostly climbed. Hong Kong’s Hang Seng gained 2.2%, Japan’s Nikkei 225 index advanced 1.6%, and China’s benchmark Shanghai Composite climbed 0.6%.
GameStop and other stocks and assets have been volatile as online investors make big bets on Reddit forums.
Photo:
Andre M. Chang/Zuma Press
—An artificial-intelligence tool was used in creating this article.
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