Markets Open On A Somewhat-Downbeat Footing
The dollar is retreating and North American equity futures are setting up for a second day of losses after a series of downbeat earnings outlooks from economic bellwethers like Ford and Palantir cast doubt on the growth outlook. Treasury yields are inching lower, oil prices are up slightly, and the currency markets are generally paring yesterday’s modest moves. Activity in the US services sector – which accounts for roughly two-thirds of overall economic output – surprised investors by accelerating last month, suggesting that underlying growth could prove more resilient than had been feared. The Institute for Supply Management’s services index...