U.S. Futures Fluctuate; Oil Jumps on OPEC+ Dispute: Markets Wrap
“U.S. equity-index futures fluctuated between gains and losses, as crude oil surged above $76 per barrel and investors weighed the potential for a more hawkish tilt at the Federal Reserve and worsening OPEC+ tensions over oil production. Contracts on the S&P 500 Index ended little-changed after the benchmark index notched up another record on Friday. West Texas Intermediate crude rose for the fourth time in five days after the oil-exporters club called off another meeting to discuss United Arab Emirates’ opposition to an extension of output increase. News related to corporate deals buoyed European stocks.”
BOE Asks Staff to Work One Day a Week In Office
“The Bank of England will ask staff to come into the office at least one day a week from September as U.K. companies plot the return of workers following plans to relax guidance to stay at home. Employees at the central bank will be expected to organize regular “team days” in the office, Chief Operating Officer Joanna Place said in a speech. The return to office schedule was delayed beyond the government’s July 19 re-opening date to allow for more staff to be vaccinated and for the summer holidays.”
BOJ Seen Paying Banks to Lend in Battle Against Climate Change
“Bank of Japan Governor Haruhiko Kuroda and his board are likely to offer incentives for lending in the battle against climate change when they meet later this month, according to economists. The central bank has promised to unveil the initial details of its green lending measure at a policy meeting ending on July 16, with most analysts expecting it to model the facility at least partially on Covid-19 loan incentives introduced in March.”
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