Futures, Stocks Fall as Amazon Stokes Tech Worry: Markets Wrap
“U.S. equity futures retreated with stocks Friday as investors worried about slowing growth at megacap technology companies and China’s crackdown. Treasuries rose. Nasdaq 100 contracts slid as Amazon.com Inc. slipped in premarket trade after its sales outlook missed expectations, adding to this week’s cautious forecasts from Facebook Inc. and Apple Inc. S&P 500 futures also fell. European equities dropped from a record. Asian stocks slid amid Beijing’s regulatory clampdown.”
Europe Rebounds With a Bang But Germany Disappoints: GDP Update
“The euro-area economy rebounded sharply in the second quarter as businesses reopened following the lifting of lockdowns. Output in the 19-nation region increased 2%, beating economists’ estimates and dusting off the impact of restrictions that crippled business activity during the winter months.”
China Keeping ‘Open Mind’ on G-7 Talks Aimed at Trade Abuses
“China’s ambassador to the World Trade Organization said there’s scope for Beijing to work with the U.S., the European Union and other Western nations on an agreement aimed at curbing the practices at the heart of the still-simmering U.S.-China trade conflict. “China will keep an open mind to that,” Li Chenggang said in an interview in Geneva on Wednesday, his first known talk with a Western media outlet since being appointed in February. “If we have a fair and a frank discussion on the issues, I think China will try its best to keep an open mind.”
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