US Futures Rebound as Oil Slide Eases Market Pressure - Europe Market Wrap
US equity futures advanced, pointing to some relief after a bruising selloff in the artificial-intelligence trade, while falling oil prices helped markets start the month on a firmer footing. Nasdaq 100 futures rose 0.8%, while S&P 500 contracts gained 0.4%. An exchange-traded fund tracking chipmakers also pointed to a modest sector rebound. Apple, which has reclaimed its position as the world’s most valuable company, edged lower in early trading ahead of its earnings. Oil prices fell sharply after a report that President Donald Trump wants to give diplomacy with Iran more time, easing concerns over further disruption to energy supplies. Brent crude dropped nearly 4% to around $109 a barrel. Longer-dated Treasuries advanced ahead of a week featuring the US midterm elections and a series of employment reports. The dollar slipped 0.1%, while gold held around $3,900 an ounce. In Europe, the Stoxx 600 edged lower as weakness in energy stocks offset gains among consumer-related companies. Alstom plunged 25% after cutting its full-year guidance and announcing a sweeping overhaul. Chinese stocks rallied after a report that financial regulators would meet banks and securities firms to disc
US equity futures advanced, pointing to some relief after a bruising selloff in the artificial-intelligence trade, while falling oil prices helped markets start the month on a firmer footing. Nasdaq 100 futures rose 0.8%, while S&P 500 contracts gained 0.4%. An exchange-traded fund tracking chipmakers also pointed to a modest sector rebound. Apple, which has reclaimed its position as the world’s most valuable company, edged lower in early trading ahead of its earnings.
Oil prices fell sharply after a report that President Donald Trump wants to give diplomacy with Iran more time, easing concerns over further disruption to energy supplies. Brent crude dropped nearly 4% to around $109 a barrel. Longer-dated Treasuries advanced ahead of a week featuring the US midterm elections and a series of employment reports. The dollar slipped 0.1%, while gold held around $3,900 an ounce.
In Europe, the Stoxx 600 edged lower as weakness in energy stocks offset gains among consumer-related companies. Alstom plunged 25% after cutting its full-year guidance and announcing a sweeping overhaul. Chinese stocks rallied after a report that financial regulators would meet banks and securities firms to discuss measures to support the capital market. Most constituents of the MSCI Asia Pacific Index advanced, although the benchmark slipped 0.2%.
A sharp fall in Japanese memory-chip maker Kioxia following a cautious outlook underscored that concerns about the AI trade remain.