U.S. and European stocks fell. What about Asian futures?

U.S. and European stocks fell. What about Asian futures?

U.S. stocks fell on Friday. Futures on the S&P 500 Index tumbled down by 0.4%. Contracts on the main U.S. stock gauges declined as well after fluctuating earlier in the session.

Houston had a boost in intensive-care patients while Florida reported that infections and hospitalizations skyrocketed by their most so far. Despite that, U.S. payrolls figures boosted optimism of a V-shaped recovery in the world’s biggest economy on Thursday.

On Friday, American bond markets and cash equity were shut for Independence Day. The U.S. dollar was steady throughout today’s session. On the other hand, Gold fell below $1,800 an ounce.

There’s still a generally positive sentiment about how quickly economies will recover globally – stated Chris Gaffney, the president of world markets at TIAA Bank. However, analysts think that investors are going to see the recovery level off, especially if Covid-19 case numbers continue rising.

 

How did European and Asian stocks fare?

On Friday, European stocks plummeted down along with U.S. futures. The Stoxx Europe 600 Index fell by 0.6%. Investors contemplated the reported conflict among policymakers over a stimulus package for the single-currency region, as well as political upheaval in France.

As a result, the Stoxx 600 Index declined after a new report showed that the European Central Bank is facing a potential rift. The ECB is contemplating how much their emergency bond-purchase program should stay weighted toward countries that suffered most from the pandemic.

Furthermore, French President Emmanuel Macron asked his government to resign and named a new prime minister afterwards. The euro dropped on Friday due to that news.

Investors weigh policy support and the upbeat economic data against the backdrop of the rise in new outbreaks of the virus. The friction at the ECB highlights the risk to markets if promised stimulus measures fall short.

Meanwhile, Asian stocks gained. The MSCI Asia Pacific Index surged forward by 0.9%. The MSCI Emerging Market Index also rose by 0.9%.