U.S. stock futures rise as traders continue to flee bonds

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U.S. stock futures rise as traders continue to flee bonds
US stock futures rise as traders continue to flee bonds


U.S. stock futures rose on Monday, while investors continued to flee bonds as turmoil in energy markets captured worldwide attention.What’s happening
Futures on the Dow Jones Industrial Average
YM00,
+0.27%
rose 147 points, or 0.4%, to 34821

Futures on the S&P 500
ES00,
-0.02%
rose 0.3%, or 13 points, to 4459

Futures on the Nasdaq 100
NQ00,
-0.43%
added 0.1%, or 11 points, to 15333

On Friday, the Dow Jones Industrial Average
DJIA,
+0.10%
rose 33 points, or 0.1%, to 34798, the S&P 500
SPX,
+0.15%
increased 7 points, or 0.15%, to 4455, while the Nasdaq Composite
COMP,
-0.03%
dropped 5 points, or 0.03%, to 15048.

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What’s driving markets The global energy crisis took center stage on Monday. Power shortages led to forced factory production cuts in China, while in the U.K., a shortage of truck drivers led to hoarding and declining inventories at gas stations. Analysts at Goldman Sachs hiked their oil-price forecast to $90 a barrel, citing the impact of what it said was the most bullish hurricane in U.S. history on supply. These energy disruptions highlight what’s been a growing issue for the global economy, namely that supply has not recovered as fast as demand in a variety of markets. Costco Wholesale
COST,
+3.31%
last week said it imposed limits on purchases of toilet paper and water. Markets continued to cast a wary eye on the impact of China Evergrande’s
3333,
+8.05%
debt troubles on the world’s number-two economy, while elections in Germany, the number-one European economy, have so far failed to produce a decisive results in what’s expected to be months of coalition talks. There are a number of Federal Reserve officials due to speak this week, with Monday including speeches from Chicago Fed President Charles Evans, New York Fed President John Williams and Fed Gov. Lael Brainard. “Despite this bullish opening for stocks, this week’s trading landscape is difficult to read,” said Pierre Veyret, technical analyst at ActivTrades. “The lack of a clear winner in Germany’s election combined with a new batch of speeches from most central bankers may slow the rally down. In addition, investors’ eyes are cautiously monitoring the situation in China where both the energy and liquidity crises are worsening, increasing worries of a knock-on impact on other economies.”Other markets
The yield on the 10 year Treasury
TMUBMUSD10Y,
1.488%
rose to 1.48%, following the biggest weekly rise in yields in six months.

Futures on light, sweet crude oil
CL.1,
+1.20%
rose over 1%, to $74.97 a barrel.



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