· Stock futures rise slightly after Thursday’s sell-off
U.S. stock futures were modestly higher early Friday as Wall Street looked to shake off a broad sell-off during market hours.
Futures contracts for the Dow Jones Industrial Average rose 85 points, or 0.26%, while those for the S&P 500 ticked up 0.24%. Futures for the tech-heavy Nasdaq 100 also gained 0.47%.
The moves come after the stock market struggled on Thursday, with tech stocks being particularly hard hit. The Nasdaq Composite fell 3%, with Apple and Amazon seeing slightly larger losses. The Dow and S&P 500 slipped 0.5% and 1.5%, respectively.
The moves come after the stock market struggled on Thursday, with tech stocks being particularly hard hit. The Nasdaq Composite fell 3%, with Apple and Amazon seeing slightly larger losses. The Dow and S&P 500 slipped 0.5% and 1.5%, respectively.
· Asia stocks unsettled by yields and oil, Nikkei hit by BOJ shift
Asian share markets slipped on Friday after a spike in global bond yields soured sentiment toward richly priced tech stocks, while a stampede out of crowded positions may have put an end to the bull run in crude oil.
Having plunged 7% overnight, Brent crude futures managed a feeble bounce of just 11 cents to $63.39 a barrel, while U.S. crude added 6 cents to $60.06. [O/R]
The retreat wiped out four weeks of gains in a single session amid worries world demand would fall short of high expectations.
A decision to confine purchases to only TOPIX-linked ETFs knocked the Nikkei down 1.6%, while South Korea lost 1%. MSCI’s broadest index of Asia-Pacific shares outside Japan followed with a fall of 1.5%.
· Japan's Nikkei dips on BOJ's ETF purchase plan; Topix at 30-year high
Japan's benchmark Nikkei index fell while the broader Topix hit a 30-year high, as the Bank of Japan (BOJ) said it would only buy Topix-linked exchange traded funds after a review of its policy framework.
The Nikkei share average .N225 closed 1.41% lower at 29,792.05, while the broader Topix .TOPX inched up 0.18% to 2,012.21, its highest since 1991.
The Nikkei's fall accelerated after the BOJ said it would only buy ETFs that are linked to the Topix index. It also said it would buy up to 12 trillion yen ($110.21 billion) at most, and slightly broadened a trading band for its 10-year bond yield target, as widely expected.
· China stocks end lower as rough U.S. talks dent risk appetite
Chinese equities ended lower on Friday, marking a weekly loss of 1.4%, after a rough start to China-U.S. bilateral talks prompted heavy selling as risk sentiment soured.
At the close, the Shanghai Composite index was down 1.69% at 3,404.66, while the blue-chip CSI300 index closed 2.62% lower.
Worries over Sino-U.S. tensions dampened risk appetite even as concerns over lofty valuations persisted, said Yan Kaiwen, an analyst with China Fortune Securities Co.
· European stocks retreat as bond yield spike spooks global markets
European markets pulled back on Friday after a spike in bond yields reignited concerns about stock valuations and prompted a sell-off on Wall Street.
The pan-European Stoxx 600 dropped 0.6% in early trade, with oil and gas stocks shedding 1.8% to lead losses as all sectors except utilities slid into negative territory.
European stocks received a weak handover from Asia-Pacific, where shares mostly declined during Friday’s trade following the overnight sell-off stateside.
Reference: CNBC, Reuters, FXStreet
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