European stocks traded mixed on Monday, but with the main index inching toward a fresh record on Monday, led by commodity-related stocks. U.S. equity futures were also mixed, as investors took the view that last week’s disappointing jobs data will lead to lower-for-longer interest rates.
The pound GBPUSD, +0.76% pushed above a key level at $1.4063 on Monday, after the Scottish National Party, the main party in Scotland pushing for independence, fell one seat short of securing an overall majority. The euro EURUSD, -0.02% was flat.S&P 500 ES00, +0.01% and Dow industrials YM00, +0.22% futures rose modestly, while Nasdaq-100 futures NQ00, -0.33% fell. The S&P SPX, +0.74% and Dow DJIA, +0.66% logged fresh closing highs on Friday, while the Nasdaq Composite COMP, +0.
Elsewhere, mining stocks rose as iron ore futures surged in Singapore past $226 a ton, boosted by demand from China and a general recovery for the global economy. Iron-ore prices also surged last week. July copper futures HGN21, +2.53% climbed another 2.5% to $4.8665 a pound, after closing at a record high on Friday at nearly $4.75 a pound. Copper prices rose 6.3% last week, the biggest weekly jump since the week ended Feb. 19.
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