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Treasuries held overnight gains. 08:18
Image: Kiyoshi Ota/Bloomberg
US futures were mixed as underperformance in the Nasdaq 100 signaled the rotation away from pandemic favorites is gaining ground. Treasury yields halted a slide that had taken them to a five-week low.
Contracts on the tech-heavy Nasdaq were paced by a decline of 8% in Netflix in premarket trading after the company reported its worst quarter in eight years. S&P 500 contracts were steady, with the US benchmark this week staging an abrupt reversal from recent peaks.
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Asia Stocks to Track U.S. Rebound; Dollar Falls: Markets Wrap
Bloomberg 1 hr ago Andreea Papuc and Rita Nazareth
(Bloomberg) Asia stocks are poised to bounce after U.S. equities snapped a two-day drop on a rally in companies that stand to benefit the most from an economic revival. The dollar fell, while Treasuries stabilized.
Futures pointed higher in Japan, Australia and Hong Kong. U.S. futures edged lower. Earlier, most major groups in the S&P 500 rose, with raw-material, energy and financial shares leading the charge. The Russell 2000 Index, a gauge of small caps, climbed more than 2%, outperforming major benchmarks.
Stocks snapped a two-day drop as dip buyers emerged, fueling a rally in companies that stand to benefit the most from an economic revival. Treasuries were little changed.
Most major groups in the S&P 500 rose, with raw-material, energy and industrial shares leading the charge. A gauge of small caps climbed more than 2 per cent, outperforming major benchmarks. CSX Corp. paced gains in the Dow Jones Transportation Average after a strong revenue outlook. Netflix Inc. tumbled on disappointing subscriber figures. The Canadian dollar advanced as the nationâs central bank said itâll pare back asset purchases and move up its expected timeline for potential rate hikes.