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Nasdaq futures fall as tech selloff continues


Speaking to a conference in Portugal, Draghi said on Tuesday that the central bank could adjust its policy tools of sub-zero interest rates and massive bond purchases as economic prospects improve in Europe. US gold futures gained 0.09 percent to $1,247.50 an ounce.

LONDON (AP) - European stock markets fell sharply Tuesday as the euro surged on comments from European Central Bank President Mario Draghi.

Oil futures climbed to their highest in more than a week despite a surprise build in crude inventories, as buyers were encouraged by a small weekly decrease in US production.

U.S. Senate Republican leaders postponed a vote on a healthcare overhaul on Tuesday after resistance from members of their own party, and President Donald Trump summoned Republican senators to the White House to urge them to break the impasse.

The U.S. Federal Reserve raised interest rates for the second time in three months on June 14 and said it would begin cutting its holdings of bonds and other securities this year. The contract had retreated to a 10-month low of $42.05 a barrel last week before the sharp retreat stalled, but it remained on track for a monthly loss of about 10 percent.

The euro edged up 0.1 percent to $1.1345, having hit a high of around $1.1355 earlier on Wednesday, its strongest level since August 2016. Against the yen, the dollar eased about 0.2 percent to 112.15 yen.

General Mills rose 2.3 percent to $56.81 after the Cheerios maker's quarterly profit beat estimates. The 10-year Treasury yield rose to 2.19 percent from 2.13 percent late Monday.


Financial spreadbetters see weaker openings for European markets, with Britain's FTSE 100, Germany's DAX and France's CAC 40 all seen losing ground in early trade. The 2-year note's yield TMUBMUSD02Y, +2.04% gained 2.4 basis points to 1.377%, while the 30-year bond yield TMUBMUSD30Y, +1.94% rose 3.3 basis points to 2.731%.

"A notion increasingly shared in the market ... is that the Fed is continuing to normalise monetary policy regardless of more muted inflation developments", said Manuel Oliveri, currency strategist with Credit Agricole in London.

Nerves over the latest cyberattack, this time called Goldeneye, weighed on big tech names including Apple, Google-parent Alphabet, Facebook and Microsoft in premarket trading.

The Nasdaq Composite was up 11.02 points, or 0.18 per cent, at 6,157.65. Brent crude, the worldwide standard, lost 1 cent to $46.91 per barrel in London.

Tim Evans, Citi Futures' energy futures specialist, said in a note that oil's move was "a technical correction after the declines of the past five weeks", helped along by boosts from a weaker dollar and forecasts for a weekly draw in US crude inventories.

The weaker dollar helped bolster spot gold, which was up 0.4 per cent at 1,251.59 per ounce.

Business supplies distributor Bunzl bounced 1.5 percent after saying a boost in recent acquisitions would help it increase first-half revenue 7 percent.

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