Feb. 1, 2021 3:45 p.m. ET
US stock futures climbed Monday, suggesting that the key benchmarks will recover some ground after their worst week since October.
S&P 500 futures were up 0.7% and Dow Jones Industrial Average futures strengthened 0.6%. Contracts pegged to the tech-heavy Nasdaq-100 index were up 0.7%. Changes in futures do not necessarily predict movements after the markets open.
Silver futures are up more than 11% from Friday’s close, sparked by a wave of new enthusiasm from online traders. Silver has surged in recent trading sessions after users reported on Reddit’s WallStreetBets forum conducting a “short squeeze” similar to those credited with fueling recent gains in other stocks popular on the Internet.
Elsewhere in commodities, the international benchmark Brent oil rose 1.1% to $ 55.63 a barrel. Gold also gained 0.8% to $ 1,866.00 per troy ounce.
Abroad, the Stoxx Europe 600 climbed 0.9% shortly after the market opened. Industrial and energy sectors made gains, while the real estate sector lost ground. The FTSE 100 in the UK gained 0.4%.
The Swiss franc was mostly flat against the US dollar, with one franc buying $ 1.12. The euro fell 0.1% against the dollar, buying $ 1.21 for 1 euro. The British pound gained 0.1% against the US dollar, with 1 pound buying $ 1.37.
The German 10-year yield on German government bonds fell from minus 0.515% to minus 0.518% and the 10-year government yield fell from 0.329% to 0.323%. The yield on 10-year US Treasuries increased from 1.064% to 1.082%. Revenues move inversely with prices.
The indexes in Asia largely climbed. Hong Kong’s Hang Seng gained 2.2%, Japan’s Nikkei 225 index rose 1.6% and the Chinese benchmark Shanghai Composite rose 0.6%.
GameStop and other stocks and assets have been volatile as online investors take big bets on Reddit forums.
Photo:
Andre M. Chang / Zuma Press
– An artificial intelligence tool was used in the making of this article.
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