Stock Futures Edge Lower After Amazon Loss

Traders work on the floor of the New York Stock Exchange.

Photo: BRENDAN MCDERMID/REUTERS

April 29, 2022 3:42 am ET

U.S. stock futures slipped, pointing to a reversal to the rally in the tech sector after Amazon. com posted its first quarterly loss since 2015.

In the U.S., S&P 500 futures were down 0.4% and futures tied to the Dow Jones Industrial Average slipped 0.1%. The contracts don’t necessarily predict movements after the opening bell.

European stocks climbed Friday for a two-session run of gains. The Stoxx Europe 600 added 0.8% in morning trade, with the materials and consumer-staples sectors leading gains.

BP jumped 0.6% and Repsol rose 2%. Umicore fell 0.5% and J Sainsbury declined 0.5%.

The FTSE 100 gained 0.4%. Other stocks in Europe mostly climbed, with France’s CAC 40 up 0.7%, U.K.’s FTSE 250 0.4% higher and Germany’s DAX adding 0.8%.

The Swiss franc, the euro and the British pound were up 0.1%, 0.4% and 0.5%, respectively, against the U.S. dollar.

In commodities, Brent crude strengthened 0.5% to $107.81 a barrel. Gold also gained 1.1% to $1,912.90 a troy ounce.

German 10-year bund yields declined to 0.883% from 0.904% and U.K. 10-year gilt yields fell to 1.853% from 1.878%. The yield on the 10-year U.S. Treasury was up to 2.844% from 2.810%. Yields move inversely to prices.

In Asia, Hong Kong’s Hang Seng climbed 3.1% after falling as much as 1% earlier and China’s benchmark Shanghai Composite rose 2.4%.

An artificial-intelligence tool was used in creating this article.

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