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US index futures decline tracking losses in European equities

FXStreet (Mumbai) - The US index futures declined after the S&P posted its 6th weekly gains on Friday, while European equities consolidated with moderate losses.

At the time of writing, the S&P 500 futures were down 0.30% or 6 points. The pan-European blue chip index Euro Stoxx 50 index dropped 0.35%.

The markets were not rattled on Friday by the increased prospects of a Fed rate hike following a stellar US non-farm payrolls report. This is evident from the Chicago Board Options Exchange Volatility Index, which is near its lowest level since August.

Traders are now pricing in a 70% chance the central bank will move at next month’s meeting. The 2-yr treasury yield, which hit a 5-1/2 year high, has remained flat today.

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