This content was published on
July 1, 2026 - 10:05
4 minutes
(Bloomberg) — Equities started July on a cautious note as investors awaited comments from Federal Reserve Chair Kevin Warsh at a time when traders are ramping up bets on US interest rate hikes. The dollar rose.Futures for the S&P 500 dipped 0.4%. Europe’s benchmark slipped 0.2% from a record high, while Asian stocks were little changed. The greenback advanced 0.2%, extending gains after its best month since March, as money markets priced about a one-in-three chance of a US rate increase as soon as this month. Treasuries wavered.Warsh will make his first public appearance abroad as head of the Fed alongside peers from Europe and the UK at Sintra, Portugal, on Wednesday. After his pledge last month to deliver price stability sent the dollar and shorter-dated Treasury yields higher, traders will be looking for further clues on the rate path for the year ahead.Investors are increasingly shifting focus to growing price pressures in an economy that’s firing strongly, with expectations building for a solid payrolls report on Thursday.“Given the absence of forward guidance from the Fed now, there is going to be intense focus on any comments” from Warsh, wrote Chris Turner, a foreign-exchange strategist at ING Bank NV. “A focus on price stability can keep the dollar bid.”What Bloomberg Strategists Say:The highlight today is the Sintra policy panel at 2 p.m. BST. I’m not convinced it will change much, particularly for the Fed, but if anything it should support continued US fixed income underperformance versus Europe.— Skylar Montgomery Koning, Macro Strategist. Click here for the analysis.Corporate Highlights:MGX has raised $49 billion for one of the biggest ever funds dedicated to artificial intelligence deals, propelling the two-year-old Abu Dhabi firm into the ranks of the most consequential investors in the sector globally. Nike Inc. shares fell about 1.5% in extended trading after executives on Tuesday gave a cautious outlook and warned about elevated consumer anxiety, adding to investor concerns about the sportswear company’s painfully slow turnaround. Bending Spoons SpA, which acquires struggling software businesses, and some of its backers raised $1.68 billion in a US initial public offering priced above a marketed range. The US government removed foreign access restrictions on Anthropic PBC’s Fable 5 artificial intelligence model, clearing it for wider distribution after the startup resolved the Trump administration’s safety controls. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.2% as of 9:03 a.m. London time S&P 500 futures fell 0.4% Nasdaq 100 futures fell 0.6% Futures on the Dow Jones Industrial Average fell 0.4% The MSCI Asia Pacific Index was little changed The MSCI Emerging Markets Index was little changed CurrenciesThe Bloomberg Dollar Spot Index rose 0.2% The euro fell 0.2% to $1.1401 The Japanese yen was little changed at 162.68 per dollar The offshore yuan fell 0.1% to 6.7997 per dollar The British pound fell 0.2% to $1.3242 CryptocurrenciesBitcoin was little changed at $58,655.07 Ether was little changed at $1,574.25 BondsThe yield on 10-year Treasuries was little changed at 4.46% Germany’s 10-year yield advanced three basis points to 2.89% Britain’s 10-year yield advanced five basis points to 4.81% CommoditiesBrent crude was little changed Spot gold fell 0.9% to $3,972.10 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
