Stocks, U.S. futures climb as bond selloff eases
BNN Bloomberg
Stocks and U.S. index futures rose Wednesday and a selloff in sovereign bonds paused, bringing some respite for markets whipsawed in recent weeks by concerns about tightening monetary policy.
Stocks and U.S. index futures rose Wednesday and a selloff in sovereign bonds paused, bringing some respite for markets whipsawed in recent weeks by concerns about tightening monetary policy.
The Stoxx Europe 600 index rose more than 1 per cent as technology shares bounced back and a raft of generally positive earnings reports lifted sentiment. Adyen NV jumped more than 11 per cent after the Dutch online-payments company reported second-half revenue growth that met analysts’ estimates. Amundi SA, Europe’s largest asset manager, climbed the most in a year after raking in more client cash than analysts’ expectations. Banks underperformed after disappointing earnings from ABN Amro Bank NV and Svenska Handelsbanken AB. Iron ore tumbled, weighing on basic-resources stocks.
Futures on the S&P 500 and Nasdaq 100 advanced. The 10-year U.S. Treasury yield retreated from levels last seen in 2019, and yields across Europe also fell after France’s central banker said markets may be getting ahead of themselves in pricing rate hikes for this year. A dollar gauge slipped.
Some more earnings news from Europe:
An Asia-Pacific share gauge added more than 1 per cent to its highest in about two weeks, helped by Japan and a rally in a Hong Kong technology index. China’s stocks climbed in the wake of intervention by state-backed funds on Tuesday. Meanwhile, the Bank of Japan chose not to deviate from its planned bond purchases, holding fire even as yields continued to rise.
