US Stock Futures Remain Stable Due to Strong Earnings – Europe Market Wrap
US market futures remained stable on Friday as good profits and confidence in the US economy’s resiliency boosted sentiment.
The S&P 500 and Nasdaq 100 contracts edged higher after both indices established closing highs on Thursday. The overall value of crypto-assets surpassed $4 trillion for the first time, owing to a rise in altcoins and impetus from a legislative push to regulate the sector.
The Dollar fell 0.3% after Fed’s Waller approved a July interest rate cut to support a deteriorating labour market. The message failed to resonate in money markets, with swaps pricing less than a 60% chance of a quarter-point decrease in September and assigning no probability of easing this month.
Treasuries rose, with the 10-year yield dropping 2 bps to 4.43%. Gains were driven by positive economic data and expectations that US corporations will report strong second-quarter results, which helped to alleviate the uncertainty created by Trump’s trade conflict.
