(Bloomberg) — U.S. equity futures fell at the open Monday after deaths around the world from the coronavirus topped half a million and infections continued to mount in American states. Crude oil fell.S&P 500 futures opened about 0.6% down and contracts in Japan and Australia pointed lower. In currencies, the Australian dollar saw a modest decline. Providing some comfort was data over the weekend providing more signs the Chinese economy is continuing to recover from its shutdown. Chinese markets reopen after a two-day holiday.Last week’s risk-off stance could endure as coronavirus cases surpassed 10 million and a resurgence in the U.S. continues to batter states likes Texas, Arizona and Florida. Meantime, in China, industrial companies saw the first monthly increase in profits since November.“Markets have taken a breather on the reopening but not entirely priced out the progress,” said Ben Emons, managing director for global macro strategy at Medley Global Advisors.On the policy front, China’s central bank said it will implement new monetary tools to make sure liquidity reaches the real economy. The People’s Bank of China said it will increase the proportion of smaller company, credit and manufacturing loans, and continue to lower lending rates, while reiterating that it will keep the yuan stable.Here are some key events coming up:New York Fed President John Williams moderates a discussion with IMF Managing Director Kristalina Georgieva on Monday.On Tuesday, Federal Resserve Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin testify before the House Financial Services Committee.The U.S. jobs report for June on Thursday may continue data-collection issues from May that appear to understate the true scale of joblessness.Friday brings the U.S. Independence Day holiday. Markets are closed, along with government offices.These are the main moves in markets:StocksS&P 500 futures fell 0.7% as of 7:01 a.m. in Tokyo. The gauge fell 2.4% on Friday.Futures on Japan’s Nikkei 255 dropped 0.8%.Hang Seng futures lost 0.4%.Futures on Australia’s S&P/ASX 200 Index declined 1.6%.CurrenciesThe yen was little changed at 107.16 per dollar.The offshore yuan held at 7.0871 per dollar.Australia’s dollar slipped 0.2% to 68.51 U.S. cents.The euro bought $1.1223.BondsThe yield on 10-year Treasuries fell five basis points on Friday to 0.64%.CommoditiesWest Texas Intermediate crude oil fell 1.7% to $37.81 a barrel.Gold was at $1,772.42 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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