S p500 futures s&P 500 futures showed a narrow gain of

S&P 500 futures showed a narrow gain of 0.1%, fueled by strong performance in the utilities sector as investors balanced higher yields against equity risk premium. Carnival is by far the largest cruise line, claiming around 42% of all passenger traffic, according to Cruise Market Watch. Royal Caribbean carries 27% of all cruise passengers. Within the survey, the business activity and production index dropped to 49.9, a decrease of 5.1 points. Though just below the line, the slip into contraction is the first since May 2020, just two months after the pandemic was officially declared. Traders saw a build in long positions on S&P 500 futures into the European open, indicating global investors’ preference for U.S. equities amid geopolitical uncertainty.