SHANGHAI, Feb 10 —This is a roundup of global macroeconomic news last night and what is expected today.
The U.S. dollar fell across the board on Thursday, moving in line with lower Treasury yields, as investors stuck to their views that the Federal Reserve does not need to raise interest rates any more than it should as inflation is starting to get under control.
The Swedish crown, on the other hand, soared after the country’s central bank raised rates, forecast further hikes and said it wanted a stronger currency, adding to the dollar’s woes.
A higher-than expected U.S. jobless claims number further compounded the dollar’s losses, as the report suggested labor market weakness that can help bring down inflation.
Initial claims for state unemployment benefits rose 13,000 to a seasonally adjusted 196,000 for the week ended Feb. 4, data showed. Economists polled by Reuters had forecast 190,000 claims for the latest week.
U.S. stock futures were little changed on Thursday night.
S&P 500 futures gained 0.05%, and Nasdaq 100 futures added 0.08%. Futures linked to the Dow Jones Industrial Average gained 1 point, or 0.003%.
During the regular trading session, the 30-stock Dow dropped nearly 250 points. The S&P 500 slid 0.9%, and the Nasdaq Composite had the largest slide, falling 1.02%. Shares of Alphabet contributed to the decline in the Nasdaq, shedding more than 4%.
All major averages are on track to end the week with losses. The S&P 500 is down 1.3% this week, while the Dow is off by 0.6%. The Nasdaq is suffering the most, on pace for a weekly loss of 1.8%.
Crude prices eased on Thursday as oil infrastructure appeared to have escaped serious damage from the earthquake that devastated parts of Turkey and Syria, while U.S. inventories swelled and investors worried about Federal Reserve rate hikes.
Brent crude settled at $84.50 a barrel, losing 59 cents, or 0.7%. U.S. West Texas Intermediate (WTI) crude futures settled at $78.06 a barrel, down 41 cents, or 0.5%. Both benchmarks have gained more than 5% so far this week.
The earthquake, which has killed more than 19,000 people, initially sent oil prices higher on the prospect that the disaster would seriously damage pipelines and other infrastructure and displace crude from the global market for an extended period.
Gold prices fell on Thursday as investors braced for more interest-rate hikes from the U.S. Federal Reserve, with focus now turning to inflation data due next week that could be an important factor for the central bank’s monetary policy plans.
Spot gold fell 0.5% to $1,865.60 per ounce by 2:09 p.m. ET (1909 GMT), going as high as $1,890.18 after U.S. jobless claims data. U.S. gold futures fell 0.7% to settle at $1,878.50.
European markets closed higher Thursday as investors weighed up the economic outlook and corporate earnings.
The Stoxx 600 index closed 0.6% higher, with most sectors and major bourses finishing in positive territory.
