Stock futures start new month to the downside
U.S. equity futures traded lower Friday morning, starting the new month the same way the old month ended. On Thursday, Wall Street closed out its worst quarter since the onset of the COVID-19 pandemic in early 2020. It was the worst first half since the first six months of 1970.
Oil gains 1% to start July
Benchmark U.S. crude traded around $107 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard was around $114 a barrel.
The OPEC oil cartel and allied producing nations decided Thursday to increase production of crude oil, but the amount will likely do little to relieve high gasoline prices at the pump.
Bitcoin trades below $20,000
Bitcoin traded below $20,000 as July begins. The cryptocurrency has traded down for four consecutive days heading into Friday. Bitcoin ended June down more than 41%. Year-to-date Bitcoin is down more than 59%. Ether is above $1,000. Dogecoin is at 6 cents.
Gas price decline continues into July
The price of a gallon of regular gasoline slipped on Friday morning to $4.842, according to AAA. The price on Thursday was at $4.857. Gas has declined for 14 straight days. Diesel slipped as well to $5.760 down from $5.772.