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At least 65,000 more men than women have died from COVID-19 in the US

Men are much more likely to die from COVID-19 than women. This is true globally – where the death rate has been about 50% higher for men. Notably, this gap does not appear to be explained either by differences in the number of confirmed cases or in…

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2 years ago

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By Richard V. Reeves, Beyond Deng

Men are much more likely to die from COVID-19 than women. This is true globally – where the death rate has been about 50% higher for men. Notably, this gap does not appear to be explained either by differences in the number of confirmed cases or in pre-existing conditions. With the pandemic cutting life expectancy of American men by more than two years, it is important to understand and mitigate risks associated with COVID-19 mortality among men.

Building on earlier work with Tiffany Ford from May 2020, “COVID-19 much more fatal for men, especially taking age into account,” we draw here on updated CDC data to examine the gender mortality gap by age, and over time in the U.S. Our main findings are:

  • The overall death rate for men is 1.6 times higher than the death rate for women;
  • The gap is widest in the middle of the age distribution, with 184 male deaths for every 100 female deaths.
  • As death rates have fallen, the gender gap has narrowed slightly
  • The gap is not explained by a higher number of cases among men, or differences in pre-existing conditions
  • In Georgia and Michigan, Black men have the highest death rates, followed by Black women
  • Improving access to care and addressing vaccine hesitancy, especially for Black men, should be a high priority

The gender gap in death rates

Men have had a higher crude death rate than women, as the chart using CDC data from February 2020 to August 2021 shows. By the end of August, over 65,000 more men than women had died from COVID-19 (362,187 male deaths and 296,567 female deaths).

The gender gap is even wider when differences in the male and female age distributions are taken into account, since there are many more older women than men in the population, and age is the biggest risk factor in COVID deaths. In 2021, mortality rates for men and women have dropped sharply, but somewhat faster for men than women, leading to a slight narrowing of the gap over time. More recently, though, death rates for men and women have risen again due to the spread of the Delta variant, with greater increases among men than women.

Middle-aged men are especially vulnerable

The picture varies across the age distribution, however. The gap is largest for those towards the middle of the age distribution. Among those aged 45 to 64, for example, the number of male deaths as of September 15, 2021, was 79,711, almost twice the number of female deaths, at 45,587.

Almost twice as many men than women have died from COVID in middle age bracket

We also calculate the ratio in death rates (male death rate: female death rate) in COVID-19 mortality for specific age groups. For all age groups, we calculate a similar ratio, but age-standardize the death rates. As of September 15, 2021, the overall adjusted male death rate was 1.63 times higher than the overall adjusted female death rate. This means that men make up 62% of all (age-standardized) COVID deaths. Again, the male-female gap is most prominent in those at or just past middle age: among those aged 45-64, there are 184 male deaths for every 100 female deaths.

Gender gap in COVID largest among middle aged people

COVID cases similar for men and women…

One possible explanation for the mortality gap could be that men are more likely to contract COVID-19. But while it is difficult to assess case counts due to access and demand for testing, raw data on the number of cases by age and sex from the CDC suggest very similar levels for men and women (note that the age brackets are not exactly the same as shown above, because of the way CDC data is presented).

In fact, women have slightly higher case numbers, possibly because they may make up a greater share of riskier jobs that are high-contact and inflexible, such as healthcare support, personal care and services, and food preparation (although it is important to acknowledge that men make up a greater share of those in high-risk jobs like meatpacking). Likewise, these industries might require more routine testing, leading to an over-reporting in mild/asymptomatic cases. On the other hand, men might be less likely to test for asymptomatic cases, leading to less reported cases overall. Correcting for these measurement issues would give a more accurate comparison of COVID-19 cases by sex.

Covid cases similar for men and women

…and pre-existing conditions do not explain the gap

Another possible explanation for the mortality gap is a higher rate of pre-existing conditions among men that make them more vulnerable to the virus. Again, some evidence suggests that this is not a major factor. One study of an Illinois hospital system by Joanne Michelle Gomez and co-authors, published in the Journal of Women’s Health, concluded that “male sex was independently associated with death, hospitalization, ICU admissions, and need for vasopressors or endotracheal intubation, after correction for important covariates.”

Another review of risk factors for hospitalization finds that men and women have similar rates of conditions associated with greater vulnerability, although there are some differences in specific conditions. For instance, “obesity, chronic kidney disease and hypertension were associated with higher rates of ICU admission among men, whereas obesity and heart failure were associated with higher rates of ICU admission among women.” These sex-specific differences make it important to better understand the relationship between sex, risk factors, and COVID-19 mortality, especially for different age cohorts and racial groups. As we discuss below, biological differences by sex are not the same across race, and there are additional factors at play that drive differences in death rates among women.

The gender gap has changed over the pandemic

The mortality gap has somewhat narrowed for some age groups since the start of 2021. Figure 5 shows that the death rate ratio for middle-aged adults was around 1.8 prior to February 2021. More recently, this ratio has leveled around 1.5, representing a decline of around 17 percent.

COVID gender mortality gap narrows slightly over time

Black men fare worst of all

There are of course other gaps in vulnerability to COVID-19, especially by race. Our previous study from the earlier stages of the pandemic “Race gaps in COVID-19 deaths are even bigger than they appear” showed for example that among middle-aged adults, Black and Hispanic or Latino death rates are six times higher than those for white people.

This means that while there is a gap between men and women within racial groups, race is often a bigger factor. Tamara Rushovich and her colleagues, drawing on data from Georgia and Michigan, find that while Black men have the highest COVID mortality rates – six times higher than for white men – the next most vulnerable group is Black women. They also find that the sex gap varies by race, especially in Michigan, where, as they report, “the mortality rate for Black men is 170% times the rate for Black women, which is significantly higher than the equivalent ratio among white individuals: the rate is only 130% higher for white men compared to white women.”

Interestingly, the authors also point out that the COVID mortality gap between Black women and white women is significantly greater than the gap between white men and white women. This suggests that the biological sex differences in mortality cannot be treated as constant across all racial groups.

Black men in Michigan have highest death rates, followed by Black women

Rushovich and her co-authors also do not put much weight on “individual behaviors and beliefs” to explain the race or sex gaps in mortality (or indeed sex gaps within race), pointing instead to “structural factors including occupation and access to healthcare.” This seems right, but it is nonetheless important to understand potential behavioral reasons behind the disparate death rates, especially as it relates to the decision to get vaccinated.

Get men (especially Black men) vaccinated

The gender gap in COVID-19 mortality is the result of a combination of factors, which may differ by race, class, geography and other variables. This is a stark reminder of the need for disaggregated health data to inform an intersectional approach to analysis. Gaining a better understanding of biological differences, case counts, and risk factors will be an ongoing task for scientific researchers.

More immediately, an urgent public health priority is to encourage and incentivize those most vulnerable to the virus to get vaccinated. Both race and gender matter here. As of September 21, 2021, Black Americans were six percentage points less likely than white Americans to have had at least one vaccine dose (41% compared to 35%). The racial disparity in vaccination rates is likely due to a combination of persistent barriers to access and structural inequities, which not only includes geographical access, but also logistics, methods of communication, timing, and registration. Many cities such as Philadelphia have facilitated better access to their underserved Black communities by partnering with community churches, opening alternative vaccination facilities such as local pharmacies, and using more direct methods of communication rather than with emails and Web portals. But while this has worked to some extent, there remain considerable gaps in vaccination take-up by race. Even among health care workers who had early and constant access to vaccines, Black workers were almost five times more likely than white workers to be hesitant about getting vaccinated. Our colleagues Sarah Reber and Cyrus Kosar also find that Black nursing home residents are likely to be in high-risk facilities with low vaccination rates, despite being one of the first few groups offered the vaccine.

What this means is that, in addition to improving access for underserved communities, we need additional research on the interventions that can effectively address hesitancy and increase demand for vaccine uptake. The Washington Post reports that “tapping into the communities where people live, drawing on information, outreach and vaccine administrators from those communities” is one good way to overcome hesitancy.

In addition to the racial gaps in vaccine rates, there is a gender gap too: 66% of women have had at least one vaccine dose, compared to 62% of men. Many states are also offering various vaccine incentive schemes – it may be worth seeing which have proven most effective with men. Especially with the spread of the new Delta variant, improving access and addressing vaccine hesitancy among the most vulnerable groups – including men, and especially Black men – must be a high priority for policymakers.

The Brookings Institution is financed through the support of a diverse array of foundations, corporations, governments, individuals, as well as an endowment.  A list of donors can be found in our annual reports published online here. The findings, interpretations, and conclusions in this report are solely those of its author(s) and are not influenced by any donation.

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Shakira’s net worth

After 12 albums, a tax evasion case, and now a towering bronze idol sculpted in her image, how much is Shakira worth more than 4 decades into her care…

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March 14, 2024

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Shakira’s considerable net worth is no surprise, given her massive popularity in Latin America, the U.S., and elsewhere. 

In fact, the belly-dancing contralto queen is the second-wealthiest Latin-America-born pop singer of all time after Gloria Estefan. (Interestingly, Estefan actually helped a young Shakira translate her breakout album “Laundry Service” into English, hugely propelling her stateside success.)

Since releasing her first record at age 13, Shakira has spent decades recording albums in both Spanish and English and performing all over the world. Over the course of her 40+ year career, she helped thrust Latin pop music into the American mainstream, paving the way for the subsequent success of massively popular modern acts like Karol G and Bad Bunny.

In late 2023, a 21-foot-tall bronze sculpture of Shakira, the barefoot belly dancer of Barranquilla, was unveiled at the city's waterfront. The statue was commissioned by the city's former mayor and other leadership.

Photo by STR/AFP via Getty Images

In December 2023, a 21-foot-tall beachside bronze statue of the “Hips Don’t Lie” singer was unveiled in her Colombian hometown of Barranquilla, making her a permanent fixture in the city’s skyline and cementing her legacy as one of Latin America’s most influential entertainers.

After 12 albums, a plethora of film and television appearances, a highly publicized tax evasion case, and now a towering bronze idol sculpted in her image, how much is Shakira worth? What does her income look like? And how does she spend her money?

Related: Dwayne 'The Rock' Johnson's net worth: How the new TKO Board Member built his wealth from $7

How much is Shakira worth?

In late 2023, Spanish sports and lifestyle publication Marca reported Shakira’s net worth at $400 million, citing Forbes as the figure’s source (although Forbes’ profile page for Shakira does not list a net worth — and didn’t when that article was published).

Most other sources list the singer’s wealth at an estimated $300 million, and almost all of these point to Celebrity Net Worth — a popular but dubious celebrity wealth estimation site — as the source for the figure.

A $300 million net worth would make Shakira the third-richest Latina pop star after Gloria Estefan ($500 million) and Jennifer Lopez ($400 million), and the second-richest Latin-America-born pop singer after Estefan (JLo is Puerto Rican but was born in New York).

Shakira’s income: How much does she make annually?

Entertainers like Shakira don’t have predictable paychecks like ordinary salaried professionals. Instead, annual take-home earnings vary quite a bit depending on each year’s album sales, royalties, film and television appearances, streaming revenue, and other sources of income. As one might expect, Shakira’s earnings have fluctuated quite a bit over the years.

From June 2018 to June 2019, for instance, Shakira was the 10th highest-earning female musician, grossing $35 million, according to Forbes. This wasn’t her first time gracing the top 10, though — back in 2012, she also landed the #10 spot, bringing in $20 million, according to Billboard.

In 2023, Billboard listed Shakira as the 16th-highest-grossing Latin artist of all time.

Shakira performed alongside producer Bizarrap during the 2023 Latin Grammy Awards Gala in Seville.

Photo By Maria Jose Lopez/Europa Press via Getty Images

How much does Shakira make from her concerts and tours?

A large part of Shakira’s wealth comes from her world tours, during which she sometimes sells out massive stadiums and arenas full of passionate fans eager to see her dance and sing live.

According to a 2020 report by Pollstar, she sold over 2.7 million tickets across 190 shows that grossed over $189 million between 2000 and 2020. This landed her the 19th spot on a list of female musicians ranked by touring revenue during that period. In 2023, Billboard reported a more modest touring revenue figure of $108.1 million across 120 shows.

In 2003, Shakira reportedly generated over $4 million from a single show on Valentine’s Day at Foro Sol in Mexico City. 15 years later, in 2018, Shakira grossed around $76.5 million from her El Dorado World Tour, according to Touring Data.

Related: RuPaul's net worth: Everything to know about the cultural icon and force behind 'Drag Race'

How much has Shakira made from her album sales?

According to a 2023 profile in Variety, Shakira has sold over 100 million records throughout her career. “Laundry Service,” the pop icon’s fifth studio album, was her most successful, selling over 13 million copies worldwide, according to TheRichest.

Exactly how much money Shakira has taken home from her album sales is unclear, but in 2008, it was widely reported that she signed a 10-year contract with LiveNation to the tune of between $70 and $100 million to release her subsequent albums and manage her tours.

Shakira and JLo co-headlined the 2020 Super Bowl Halftime Show in Florida.

Photo by Kevin Winter/Getty Images)

How much did Shakira make from her Super Bowl and World Cup performances?

Shakira co-wrote one of her biggest hits, “Waka Waka (This Time for Africa),” after FIFA selected her to create the official anthem for the 2010 World Cup in South Africa. She performed the song, along with several of her existing fan-favorite tracks, during the event’s opening ceremonies. TheThings reported in 2023 that the song generated $1.4 million in revenue, citing Popnable for the figure.

A decade later, 2020’s Superbowl halftime show featured Shakira and Jennifer Lopez as co-headliners with guest performances by Bad Bunny and J Balvin. The 14-minute performance was widely praised as a high-energy celebration of Latin music and dance, but as is typical for Super Bowl shows, neither Shakira nor JLo was compensated beyond expenses and production costs.

The exposure value that comes with performing in the Super Bowl Halftime Show, though, is significant. It is typically the most-watched television event in the U.S. each year, and in 2020, a 30-second Super Bowl ad spot cost between $5 and $6 million.

How much did Shakira make as a coach on “The Voice?”

Shakira served as a team coach on the popular singing competition program “The Voice” during the show’s fourth and sixth seasons. On the show, celebrity musicians coach up-and-coming amateurs in a team-based competition that eventually results in a single winner. In 2012, The Hollywood Reporter wrote that Shakira’s salary as a coach on “The Voice” was $12 million.

Related: John Cena's net worth: The wrestler-turned-actor's investments, businesses, and more

How does Shakira spend her money?

Shakira doesn’t just make a lot of money — she spends it, too. Like many wealthy entertainers, she’s purchased her share of luxuries, but Barranquilla’s barefoot belly dancer is also a prolific philanthropist, having donated tens of millions to charitable causes throughout her career.

Private island

Back in 2006, she teamed up with Roger Waters of Pink Floyd fame and Spanish singer Alejandro Sanz to purchase Bonds Cay, a 550-acre island in the Bahamas, which was listed for $16 million at the time.

Along with her two partners in the purchase, Shakira planned to develop the island to feature housing, hotels, and an artists’ retreat designed to host a revolving cast of artists-in-residence. This plan didn’t come to fruition, though, and as of this article’s last update, the island was once again for sale on Vladi Private Islands.

Real estate and vehicles

Like most wealthy celebs, Shakira’s portfolio of high-end playthings also features an array of luxury properties and vehicles, including a home in Barcelona, a villa in Cyprus, a Miami mansion, and a rotating cast of Mercedes-Benz vehicles.

Philanthropy and charity

Shakira doesn’t just spend her massive wealth on herself; the “Queen of Latin Music” is also a dedicated philanthropist and regularly donates portions of her earnings to the Fundación Pies Descalzos, or “Barefoot Foundation,” a charity she founded in 1997 to “improve the education and social development of children in Colombia, which has suffered decades of conflict.” The foundation focuses on providing meals for children and building and improving educational infrastructure in Shakira’s hometown of Barranquilla as well as four other Colombian communities.

In addition to her efforts with the Fundación Pies Descalzos, Shakira has made a number of other notable donations over the years. In 2007, she diverted a whopping $40 million of her wealth to help rebuild community infrastructure in Peru and Nicaragua in the wake of a devastating 8.0 magnitude earthquake. Later, during the COVID-19 pandemic in 2020, Shakira donated a large supply of N95 masks for healthcare workers and ventilators for hospital patients to her hometown of Barranquilla.

Back in 2010, the UN honored Shakira with a medal to recognize her dedication to social justice, at which time the Director General of the International Labour Organization described her as a “true ambassador for children and young people.”

On November 20, 2023 (which was supposed to be her first day of trial), Shakira reached a deal with the prosecution that resulted in a three-year suspended sentence and around $8 million in fines.

Photo by Adria Puig/Anadolu via Getty Images

Shakira’s tax fraud scandal: How much did she pay?

In 2018, prosecutors in Spain initiated a tax evasion case against Shakira, alleging she lived primarily in Spain from 2012 to 2014 and therefore failed to pay around $14.4 million in taxes to the Spanish government. Spanish law requires anyone who is “domiciled” (i.e., living primarily) in Spain for more than half of the year to pay income taxes.

During the period in question, Shakira listed the Bahamas as her primary residence but did spend some time in Spain, as she was dating Gerard Piqué, a professional footballer and Spanish citizen. The couple’s first son, Milan, was also born in Barcelona during this period. 

Shakira maintained that she spent far fewer than 183 days per year in Spain during each of the years in question. In an interview with Elle Magazine, the pop star opined that “Spanish tax authorities saw that I was dating a Spanish citizen and started to salivate. It's clear they wanted to go after that money no matter what."

Prosecutors in the case sought a fine of almost $26 million and a possible eight-year prison stint, but in November of 2023, Shakira took a deal to close the case, accepting a fine of around $8 million and a three-year suspended sentence to avoid going to trial. In reference to her decision to take the deal, Shakira stated, "While I was determined to defend my innocence in a trial that my lawyers were confident would have ruled in my favour [had the trial proceeded], I have made the decision to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her personal well-being in this fight."

How much did the Shakira statue in Barranquilla cost?

In late 2023, a 21-foot-tall bronze likeness of Shakira was unveiled on a waterfront promenade in Barranquilla. The city’s then-mayor, Jaime Pumarejo, commissioned Colombian sculptor Yino Márquez to create the statue of the city’s treasured pop icon, along with a sculpture of the city’s coat of arms.

According to the New York Times, the two sculptures cost the city the equivalent of around $180,000. A plaque at the statue’s base reads, “A heart that composes, hips that don’t lie, an unmatched talent, a voice that moves the masses and bare feet that march for the good of children and humanity.” 

Related: Taylor Swift net worth: The most successful entertainer joins the billionaire's club

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Delta Air Lines adds a new route travelers have been asking for

The new Delta seasonal flight to the popular destination will run daily on a Boeing 767-300.

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March 14, 2024

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Those who have tried to book a flight from North America to Europe in the summer of 2023 know just how high travel demand to the continent has spiked.

At 2.93 billion, visitors to the countries making up the European Union had finally reached pre-pandemic levels last year while North Americans in particular were booking trips to both large metropolises such as Paris and Milan as well as smaller cities growing increasingly popular among tourists.

Related: A popular European city is introducing the highest 'tourist tax' yet

As a result, U.S.-based airlines have been re-evaluating their networks to add more direct routes to smaller European destinations that most travelers would have previously needed to reach by train or transfer flight with a local airline.

The new flight will take place on a Boeing 767-300.

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Delta Air Lines: ‘Glad to offer customers increased choice…’

By the end of March, Delta Air Lines  (DAL)  will be restarting its route between New York’s JFK and Marco Polo International Airport in Venice as well as launching two new flights to Venice from Atlanta. One will start running this month while the other will be added during peak demand in the summer.

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“As one of the most beautiful cities in the world, Venice is hugely popular with U.S. travelers, and our flights bring valuable tourism and trade opportunities to the city and the region as well as unrivalled opportunities for Venetians looking to explore destinations across the Americas,” Delta’s SVP for Europe Matteo Curcio said in a statement. “We’re glad to offer customers increased choice this summer with flights from New York and additional service from Atlanta.”

The JFK-Venice flight will run on a Boeing 767-300  (BA)  and have 216 seats including higher classes such as Delta One, Delta Premium Select and Delta Comfort Plus.

Delta offers these features on the new flight

Both the New York and Atlanta flights are seasonal routes that will be pulled out of service in October. Both will run daily while the first route will depart New York at 8:55 p.m. and arrive in Venice at 10:15 a.m. local time on the way there, while leaving Venice at 12:15 p.m. to arrive at JFK at 5:05 p.m. on the way back.

According to Delta, this will bring its service to 17 flights from different U.S. cities to Venice during the peak summer period. As with most Delta flights at this point, passengers in all fare classes will have access to free Wi-Fi during the flight.

Those flying in Delta’s highest class or with access through airline status or a credit card will also be able to use the new Delta lounge that is part of the airline’s $12 billion terminal renovation and is slated to open to travelers in the coming months. The space will take up more than 40,000 square feet and have an outdoor terrace.

“Delta One customers can stretch out in a lie-flat seat and enjoy premium amenities like plush bedding made from recycled plastic bottles, more beverage options, and a seasonal chef-curated four-course meal,” Delta said of the new route. “[…] All customers can enjoy a wide selection of in-flight entertainment options and stay connected with Wi-Fi and enjoy free mobile messaging.”

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Stock Market Today: Stocks turn lower as factory inflation spikes, retail sales miss target

Stocks will navigate the last major data releases prior to next week’s Fed rate meeting in Washington.

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March 14, 2024

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Check back for updates throughout the trading day

U.S. stocks edged lower Thursday following a trio of key economic releases that have added to the current inflation puzzle as investors shift focus to the Federal Reserve's March policy meeting next week in Washington.

Updated at 9:59 AM EDT

Red start

Stocks are now falling sharply following the PPI inflation data and retail sales miss, with the S&P 500 marked 18 points lower, or 0.36%, in the opening half hour of trading.

The Dow, meanwhile, was marked 92 points lower while the Nasdaq slipped 67 points.

Treasury yields are also on the move, with 2-year notes rising 5 basis points on the session to 4.679% and 10-year notes pegged 7 basis points higher at 4.271%.

Updated at 9:44 AM EDT

Under Water

Under Armour  (UAA)  shares slumped firmly lower in early trading following the sportswear group's decision to bring back founder Kevin Plank as CEO, replacing the outgoing Stephanie Linnartz.

Plank, who founded Under Armour in 1996, left the group in May of 2021 just weeks before the group revealed that it was co-operating with investigations from both the Securities and Exchange Commission and the U.S. Department of Justice into the company's revenue recognition accounting.

Under Armour shares were marked 10.6% lower in early trading to change hands at $7.21 each.

Source: Under Armour Investor Relations

Updated at 9:22 AM EDT

Steely resolve

U.S. Steel  (X)  shares extended their two-day decline Thursday, falling 5.75% in pre-market trading following multiple reports that suggest President Joe Biden will push to prevent Japan's Nippon Steel from buying the Pittsburgh-based group.

Both Reuters and the Associated Press have said Biden will express his views to Prime Minister Kishida Yuko ahead of a planned State Visit next month at the White House. 

Related: US Steel soars on $15 billion Nippon Steel takeover; United Steelworkers slams deal

Updated at 8:52 AM EDT

Clear as mud

Retail sales rebounded last month, but the overall tally of $700.7 billion missed Street forecasts and suggests the recent uptick in inflation could be holding back discretionary spending.

A separate reading of factory inflation, meanwhile, showed prices spiking by 1.6%, on the year, and 0.6% on the month, amid a jump in goods prices.

U.S. stocks held earlier gains following the data release, with futures tied to the S&P 500 indicating an opening bell gain of 10 points, while the Dow was called 140 points higher. The Nasdaq, meanwhile, is looking at a more modest 40 point gain.

Benchmark 10-year Treasury note yields edged 3 basis points lower to 4.213% while two-year notes were little-changed at 4.626%.

Stock Market Today

Stocks finished lower last night, with the S&P 500 ending modestly in the red and the Nasdaq falling around 0.5%. The declines came amid an uptick in Treasury yields tied to concern that inflation pressures have failed to ease over the opening months of the year.

A better-than-expected auction of $22 billion in 30-year bonds, drawing the strongest overall demand since last June, steadied the overall market, but stocks still slipped into the close with an eye towards today's dataset.

The Commerce Department will publish its February reading of factory-gate inflation at 8:30 am Eastern Time. Analysts are expecting a slowdown in the key core reading, which feeds into the Fed's favored PCE price index.

Retail sales figures for the month are also set for an 8:30 am release as investors search for clues on consumer strength, tied to a resilient job market. Those factors could give the Fed more justification to wait until the summer months to begin the first of its three projected rate cuts.

"The case for a gradual but sustained slowdown in growth in consumers’ spending from 2023’s robust pace is persuasive," said Ian Shepherdson of Pantheon Macroeconomics. 

"Most households have run down the excess savings accumulated during the pandemic, while the cost of credit has jumped and last year’s plunge in home sales has depressed demand housing-related retail items like furniture and appliances," he added.

Benchmark 10-year Treasury yields are holding steady at 4.196% heading into the start of the New York trading session, while 2-year notes were pegged at 4.628%.

With Fed officials in a quiet period, requiring no public comments ahead of next week's meeting in Washington, the U.S. dollar index is trading in a narrow range against its global peers and was last marked 0.06% higher at 102.852.

On Wall Street, futures tied to the S&P 500 are indicating an opening bell gain of around 19 points, with the Dow Jones Industrial Average indicating a 140-point advance.

The tech-focused Nasdaq, which is up 7.77% for the year, is priced for a gain of around 95 points, with Tesla  (TSLA)  once again sliding into the red after ending the Wednesday session at a 10-month low.

In Europe, the regionwide Stoxx 600 was marked 0.35% higher in early Frankfurt trading, while Britain's FTSE 100 slipped 0.09% in London.

Overnight in Asia, the Nikkei 225 gained 0.29% as investors looked to a key series of wage negotiation figures from key unions that are likely to see the biggest year-on-year pay increases in three decades.

The broader MSCI ex-Japan benchmark, meanwhile, rose 0.18% into the close of trading. 

Related: Veteran fund manager picks favorite stocks for 2024

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