US Futures Rise as Dollar Snaps 8-Week Winning Streak – Europe Market Wrap

US equities futures rose alongside Treasuries on Friday, while anticipation that President-elect Donald Trump could soften his most aggressive trade plans pushed the currency to its worst weekly loss in three months.

S&P 500 futures rose 0.3%, pointing to modest gains in Friday’s truncated, post-holiday trading session on Wall Street. The 10-year Treasury yield fell five basis points to 4.21%, its lowest level in more than a month, when cash trading resumed following the Thanksgiving break.

Trump’s decision for Treasury secretary has fuelled optimism that tariffs will be modest, lifting US stocks and Treasuries while sapping dollar strength.

The S&P 500 has already surged 5% in November, on track for its strongest month since February, as investors poured $141 billion into US shares, the highest inflows for a four-week period on record, according to EPFR Global statistics. A handful of tech titans have driven a 26% year-to-date increase in US stocks on the potential of Federal Reserve rate reduction, while the American economy continues to develop.

European markets were little changed, although miners such as Anglo American outperformed, buoyed by expectations that China may take additional measures to bolster its economy.