U.S. equity futures retreated and Asian stocks were steady early Friday as traders weighed megacap technology earnings and risks from China’s crackdown on private industries.
Japan and South Korea edged down but Australian shares rose. Nasdaq 100 contracts shed about 1% as Amazon.com Inc. tumbled in extended trading on signs its rapid growth through the pandemic is waning.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.4% at 15,779 as of 7 a.m.
Asia-Pacific stocks had jumped Thursday after Beijing tried to allay fears over regulatory curbs on private industries, but U.S.-listed Chinese equities later resumed declines.
S&P 500 futures also fell. The gauge rose overnight on data signaling scope for the Federal Reserve to keep policy ultra-loose. U.S. economic growth was solid while trailing estimates. Jobless claims dropped but were higher than forecast.
Ten-year U.S. Treasury yields trimmed an advance and a dollar gauge headed for its biggest weekly drop since May. Oil held gains and the Bloomberg Commodity Spot Index was at the highest in about a decade, bolstered by U.S. infrastructure spending plans and expectations that economic reopening will weather delta-strain Covid-19 outbreaks.
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