Europe midday: yields, dollar and oil keep traders cautious as futures trim
S&P futures are down 0.1961% and Nasdaq futures are down 0.2785%, while the ten-year yield is 5.28 and WTI crude is 90.72. The dollar index is 102.2, euro-dollar is 1.1208 and dollar-yen is 157.955, with VIX at 16.28.
S&P 500 futures down 0.1961%higher yields and cautious risk tone
Nasdaq futures down 0.2785%tech futures softer into US hours
US 10-year yield at 5.28rate pressure remains in focus
WTI crude at 90.72energy risk and supply concerns
Lead: S&P futures are down 0.1961% and Nasdaq futures are down 0.2785% as Europe trades into the US setup with rates and energy still in focus.
Session narrative: Cash equity ETFs are firmer, with the S&P 500 ETF up 0.7355% and the Nasdaq 100 ETF up 0.9676%, but futures have faded. The ten-year yield is 5.28, the dollar index is 102.2, and WTI crude is 90.72.
Cross-asset check: VIX is 16.28, euro-dollar is 1.1208 and dollar-yen is 157.955. Brent crude is 102.66, so the inflation and energy backdrop stays active.
Themes & continuing stories: Eurozone CPI came in above forecast, core matched 2.5%, and Middle East supply risk keeps oil bid. Higher yields and a firmer dollar are the main cross-asset drag.
What’s ahead: Watch the US open for whether cash strength in ETFs can overcome weaker futures and elevated rates.