U.S. stocks set for mixed open amid focus on Fed, China
BNN Bloomberg
U.S. stocks fell amid concern that China may tighten COVID curbs after a string of reported deaths, with investors seeking shelter in the dollar.
S&P 500 and Nasdaq 100 contracts both dropped by at least 0.5 per cent. Walt Disney Co. defied the gloom, rallying in New York premarket trading after the company brought back former leader Bob Iger as chief executive officer in a surprise move. European equities edged lower.
The dollar climbed against its Group-of-10 counterparts and emerging-market currencies. Treasuries were steady after giving back earlier gains. Oil sank on concern of a weakening demand outlook from China.
China saw its first Covid-related death in almost six months on Saturday and another two were reported on Sunday. Worsening outbreaks across the nation are stoking concerns that authorities may again resort to harsh restrictions. A city near Beijing that was rumoured to be a test case for the ending of virus restrictions has suspended schools, locked down universities and asked residents to stay at home for five days.
