U.S. stock futures up as stocks steady; Dollar falls - BNN Bloomberg

US equity futures posted modest gains in the wake of another reversal for the S&P 500 on Monday on Apple Inc.’s plans to slow hiring. The Stoxx Europe 600 traded little changed after erasing an earlier loss.

Signs that high inflation and monetary tightening are squeezing consumers and employment could feed into worries that an equity revival since mid-June is merely brief. Corporate updates such as Apple’s are fanning such fears. Investor allocation to stocks plunged to levels last seen in October 2008 while exposure to cash surged to the highest since 2001, according to Bank of America Corp.’s monthly fund manager survey.

Meanwhile, concerns are intensifying about gas supplies from Russia amid a standoff over its invasion of Ukraine. The European Union is preparing to tell members to cut gas consumption “immediately” to preserve supplies for winter, according to a report.

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