U.S. Futures are declining as the company’s earnings season begins this week in news about how companies are navigating soaring inflation and the spread of new coronavirus variants. ..

Also this week, the United States releases the latest data on rising costs for both businesses and families, whose inflation rates have been high for nearly 40 years.

Dow Jones Industrial Average futures fell 0.6% and S & P 500 futures fell 0.7% before yesterday’s opening bell.

Stocks have fallen in Europe at noon, after most Asian markets have also fallen, with the exception of Japan’s benchmark, which rebounded after the ruling Liberal Democratic Party won the landslide parliamentary election.

The euro fell almost as much as the US dollar, down nearly 1% to $ 1.00011. Europe’s cocurrent currency is at its lowest level against the US dollar in 20 years, and as the Federal Reserve raises interest rates to combat inflation, it is worried about a possible recession and a surge in greenbacks.

The US dollar rose from 136.10 yen to 137.15 yen.

Germany’s DAX fell by 1% as the main gas pipeline from Russia to Germany was closed due to annual maintenance. This is due to concerns that Russia may not be able to resume gas flow as planned.

In Paris, CAC 40 fell 0.8%, while the UK FTSE 100 fell 0.4%.

Wall Street plunged last week as the global market focused on China’s economic data and stubborn inflation control measures by central banks, including the Federal Reserve Board.

On Friday, the S & P 500 fell 0.1% and the Dow fell 0.1%, while the Nasdaq rose 0.1%. Russell 2000 Index small cap stocks fell less than 0.1%.

“Recession is not the basic outlook for the market, but until it proves otherwise, investors will discuss the depth of growth impact, not the possibility of recession, and therefore a good economy. Data is good news for stocks, “said Stephen Innes of SPI Asset Management in a comment.

China reports April-June growth data on Friday, with the latest information on US inflation scheduled for Wednesday. Investors are also looking at future corporate earnings reports that give investors insights into how inflation is impacting businesses and consumers. Banks, airlines and healthcare companies will start reporting in the middle of the week.

COVID-19 infections are also on the rise in some areas. Macau’s Asian gambling center will close all casinos for a week starting yesterday, limiting people to their homes in an attempt to stop the outbreak of COVID-19, which has infected more than 1,400 people in the last three weeks.

The rapidly changing coronavirus produced yet another hyperinfectious Omicron variant. It is worrisome to scientists as it is established in India and appears in many other countries including the United States, Australia, Germany, the United Kingdom and Canada.

Scientists say a variant called BA.2.75 could spread rapidly and avoid immunity from vaccines and previous infections.

This week, major airlines, banks and health companies will release quarterly revenues, and the United States will release data on consumer and producer prices.

Japan’s benchmark Nikkei rose 1.1% to 26,812.30, but yesterday’s Asian stocks generally fell. MDT / AP

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