(Bloomberg) US equity-index futures were steady on Friday and Treasuries gained, capping a tumultuous week for global markets amid lingering concern that the financial turmoil which has roiled bonds and stocks is not over. Contracts on the S&P 500 fluctuated after the index rallied 1.8% yesterday as larger banks threw a lifeline to First Republic Bank, the latest US lender to signal stress. That didn’t stop shares in First Republic from sliding in pre-market trading, however. On the plus side, FedEx Corp. jumped more than 10% after the courier boosted its profit outlook. Futures on the Nasdaq 100 were flat as the rates-sensitive gauge heads for its best week since November amid expectations the Federal Reserve will temper its tightening path. The 10-year Treasury yield dipped and a gauge of the dollar declined. Banks including JPMorgan Chase & Co. and Citigroup Inc. banded together in a show of support for First Republic on Thursday. While the rescue attempt helped boost sentiment,
(Bloomberg) US and European equity futures swung between small gains and losses while Asian stocks climbed as investors wagered that the worst of the global fallout from the American banking sector has passed. Financials were among the biggest gainers Wednesday in Tokyo and Hong Kong, where the Hang Seng Index rose more than 1%. US stocks rallied into the close Tuesday, helping set the scene for the shift in sentiment in Asia. Traders were also digesting a slew of economic data from China, where retail sales rose as much as estimated while factory output was fractionally lower than projected. The People’s Bank of China added more liquidity than expected while holding a key lending rate unchanged. Rising housing sales provided one clearly positive signal, reflected in a rally in a mainland property index. A gauge of dollar strength traded little changed in a tight range after declining for a fourth-straight day. The two-year Treasury yield rose five basis points following a 27 basis
By Carly Wanna, Jennifer A Dlouhy and Josh Saul (Bloomberg) –The offshore wind industry has a 40-ton problem on its hands. Since early December, close to two dozen large whales have washed up.