U.S. Futures Dip; Europe Stocks Climb to Record: Markets Wrap
Bloomberg 1 hr ago Robert Brand
(Bloomberg) American stock futures slipped, suggesting the rally that drove the S&P 500 to an all-time high may pause as concern China is curtailing loan growth tempered optimism stoked by the U.S. economic rebound.
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ViacomCBS Inc. fell in premarket trading along with other stocks linked to the Archegos Capital Management implosion after Credit Suisse Group AG took a 4.4 billion franc ($4.7 billion) writedown and was said to have unloaded more than $2 billion in block trades. The dollar edged higher and Treasury yields were steady. European stocks, meanwhile, rose to a record as markets reopened after Monday’s holiday across the region.
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Tech Leads Losses in S&P 500; Treasuries Climb: Markets Wrap
Bloomberg 19 mins ago Rita Nazareth
(Bloomberg) Tech companies dragged down the S&P 500 after a rally that sent stocks to all-time highs. Treasuries rose, while the dollar fell.
The U.S. equity benchmark halted a three-day advance. The Dow Jones Industrial Average and the Nasdaq 100 also retreated. Stocks tied to the Archegos Capital Management crisis whipsawed after Credit Suisse Group AG unloaded more than $2 billion of the shares in the latest block trades stemming from the liquidation of Bill Hwang’s fund. ViacomCBS Inc., Vipshop Holdings Ltd. and Farfetch Ltd. bounced after dropping in early trading.
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