Content Plus: Euro Stocks, U.S Futures waver after China data miss

The future of the US budget is declining and European stocks are fluctuating as traders weigh China's latest measures to support its economy after negative data has fueled concerns about a global growth perspective.

Contracts for the S&P 500 and Nasdaq 100 were downgraded, but they were not in their lowest session. Shares of Twitter Inc. has rejected pre-market trading, which may have wiped out all of its profits since billionaire Elon Musk disclosed his position on social media. The Stoxx Europe 600 index fell to 0.8% before losses, and declining tech and tourism stocks reduced basic service benefits as the industrial metals grew.

China's industrial production and consumer spending have reached alarming levels since the epidemic began, which has hurt the closure of Covid. Officials take limited measures to help the economy: China successfully lowered new housing interest rates over the weekend to bolster the sick housing market, but the one-year mortgage rate was left unchanged on Monday.

The risk of a recession between price pressures and rising borrowing costs remains a major market concern. Goldman Sachs Group Inc. CEO Lloyd Blankfein urged companies and consumers to commit to the US economic downturn, saying it was "extremely dangerous." Traders are still wary of lower stock prices despite a 17% drop in global stocks this year, with Morgan Stanley warning that any jump in American stocks will be a bear market rally and further declines are yet to come.

"Trying to timetable the market will probably prove costly and time consuming," said Mark Haefele, chief investment officer at UBS Global Wealth Management. "Investor sentiment is volatile, and markets may remain volatile until we receive more R3 specificity: prices, inflation, and risk."

In the bond market, the US 10-year yield has changed slightly by about 2.93%. An important question is whether economic concerns will help end this year's Treasury selloff, driven by inflation and tightening US financial settings. Products in European bonds rose.

Cryptocurrencies are immersed as the mood in the stocks weakens. That put Bitcoin back at $ 30,000.

Energy Costs

Food and fuel prices are rising. Wheat exceeded the limit on exchanges in India to curb exports. The oil was drunk on Chinese figures but held about $ 110 a barrel. Shanghai is on the verge of easing its six-week shutdown, a development that could accelerate rising energy demand.

Meanwhile, the European Commission has warned that the recovery of the euro epidemic will be halted, and prices will rise sharply in the event of a major disruption to Russia's natural gas supply.

Traders look at Finland and Sweden's efforts to join the North Atlantic Treaty Organization following Russia's invasion of Ukraine. Changes in the European Union Security Council could escalate tensions with Russia.