U.S. Stock Futures Edge Down Ahead of Powell's Second Day of Testimony

U.S. stock futures edged lower Wednesday ahead of Federal Reserve Chairman Jerome Powell's second day of testimony on the economy and monetary policy.

S&P 500 futures fell 0.1% and Dow Jones Industrial Average futures were down 0.1%. The contracts don't necessarily predict moves after the markets open.

In Europe, the Stoxx Europe 600 gained 0.2% in morning trade. Industrials and energy sectors led gains while consumer staples and materials sectors lost ground.

Solvay jumped 4.5% for a four-session run of gains and easyJet climbed 2.3%.

The U.K.'s FTSE 100 was down 0.5%. Other stock indexes in Europe were mixed as France's CAC 40 added 0.2% and U.K.'s FTSE 250 rose 0.3%, whereas Germany's DAX lost 0.3%.

The Swiss franc slipped 0.1% against the U.S. dollar, with 1 franc buying $1.10. Meanwhile, the euro and the British pound strengthened 0.1% against the dollar.

In commodities, Brent crude and gold were both little changed.

German 10-year bund yields slipped to minus 0.325% and the 10-year U.K. government debt known as gilts yield was down to 0.707%. The 10-year U.S. Treasury yield declined to 1.342% from 1.363%. Bond prices and yields move in opposite directions.

Indexes in Asia mostly slipped as Hong Kong's Hang Seng fell 2.9% after gaining 0.5% during the session, Japan's Nikkei 225 index shed 1.6%, and China's benchmark Shanghai Composite lost 2%.

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(END) Dow Jones Newswires

February 24, 2021 03:59 ET (08:59 GMT)

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