Opening Bell: U.S. Futures Hold Ground Despite Bleak IMF Outlook; Oil Pops

  • Europe, U.S. futures hold onto green territory after mixed Asian session
  • Yields fall below 2.5% as investors rotate into safety on lower IMF growth outlook, trade tariffs headwinds
  • Pound climbs on reports the EU may opt for 1-year Brexit delay

Key Events

Europe’s and futures on the , and crawled higher this morning, following a mixed Asian session dominated by the effect of new tariff threats from the White House and by a further reduction, from the International Monetary Fund, of the global economic outlook—to the lowest level since the 2008 financial crisis.

Japan’s (-0.53%) and Hong kong’s (-0.13%) slid lower, while China’s (+0.07%) and South Korea’s (+0.49%) edged higher.

Global Financial Affairs

In Tuesday’s U.S. session, equities ended the longest winning streak in a year and a half, as investors sought safety and rotated into Treasurys amid concerns of a slowing economy and lingering trade tensions.

The (-0.61%) halted a nine-day rally, after U.S. President Donald Trump’s threats of higher tariffs on a batch of European goods hit multinationals stocks such as Caterpillar (NYSE:) particularly harshly. Airlines shares led by Boeing (NYSE:) remained under pressure after Trump’s move re-ignited a 15-year long dispute with Europe over aircraft subsidies that sees the U.S. plane company pit against Franco-German rival Airbus (PA:). stocks also dragged the lower (-0.72%), while energy producers took a hit from the bleak outlook posted by the IMF.

UST 10-Year Daily Chart

Meanwhile, yields on Treasurys fell below the psychological 2.5% level, though it could just be part of a falling flag—bullish after this month’s rebound.

In FX trading, the ticked higher on reports that EU ministers meeting today to deliberate on a second Brexit delay may be leaning towards a one-year postponement.

WTI Daily Chart

surged paring yesterday’s losses, on signs of tighter global supplies, which offset the downward price effect of Russia’s recent caution against setting out further output cuts.

Up Ahead

Market Moves





  • West Texas Intermediate crude gained 0.4% to $64.23 a barrel.
  • rose less than 0.05% to $1,304.45 an ounce.
  • The climbed 0.1%.

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