U.S. stock futures waver after rally, dollar weakens
BNN Bloomberg
Global stocks climbed and the dollar slipped to a three-month low as fresh signs emerged of a softening in China’s COVID stance and Federal Reserve Chair Jerome Powell confirmed that the pace of interest rate hikes was set to slow.
S&P 500 contracts were steady, a day after Powell’s comments helped the underlying benchmark close out November with a second month of gains for the first time in more than a year. Those on the tech-heavy Nasdaq 100, which jumped 4.5 per cent on Wednesday, slipped more, with notable declines in U.S.-listed China stocks that had benefited from reports of China’s economic reopening.
Markets elsewhere continued to ride high, with Europe’s Stoxx 600 benchmark up more than 0.5 per cent and a range of regional indexes on the cusp of bull-market territory, having gained almost 20 per cent from lows hit in September. A gauge of global shares touched a three-month high.