U.S. stock futures waver, suggesting another week of choppy trading amid concerns that rising coronavirus cases could delay the global economic recovery
By Anna Hirtenstein Close Anna Hirtenstein and Joanne Chiu Close Joanne Chiu Updated June 29, 2020 5:11 am ET U.S. stock futures wavered Monday, suggesting another week of choppy trading amid concerns that rising coronavirus infections could delay the global economic recovery.
Over the weekend, coronavirus cases world-wide passed 10 million, with more than 500,000 deaths. Authorities in Florida, Texas, California and Arizona, which have accounted for much of the recent rise in U.S. cases, have imposed new restrictions and retreated on reopening plans. “There’s still a high level of volatility, which shows that the degree of fear is still very elevated,” said Sebastien Galy, a macro strategist at Nordea Asset Management. “I think we’re in the last wave of this relief rally, caused by central banks doing their jobs and passing a lot of liquidity into the market.”
In commodities, the main benchmark for U.S. crude oil prices fell 1.5% to $37.89 a barrel as the rise in coronavirus cases weighed on prospects for the global economic recovery. Brent crude, the international benchmark, dropped 1.4%.
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