Stock Futures Eke Out Gains – Europe Market Wrap
Stocks pared tech-fueled gains as Bitcoin resumed its decline on Monday, signaling that risk sentiment remained fragile after a volatile week.
Nasdaq 100 futures were up 0.4% after earlier rising more than 1%. S&P 500 contracts added 0.2%. In Asia, Alibaba Group Holding Ltd. jumped 4.7% in Hong Kong after a strong debut for its AI app. Alphabet held gains of more than 2% in premarket trading. European stocks were little changed.
Bitcoin fell again toward $86,000 after a weekend rebound and is on track for its worst month since 2022 amid a broader slump in digital assets. Oil edged lower as traders weighed prospects for a potential Ukraine-Russia peace deal. Treasuries rose and the dollar was little changed.
The cautious comeback in tech stocks followed a volatile week marked by concerns over lofty valuations and whether a debt-fueled investment spree in artificial intelligence will deliver long-term returns. With the December Federal Reserve meeting seen as the next key milestone for markets, investors and are relying on dated reports after delays caused by the US shutdown.
Economists expect September retail sales to have risen 0.4% following a 0.6% gain in August, based on survey median estimate. Consumer demand proved resilient over the summer, likely fueling stronger third-quarter growth, though spending may cool as employers scale back hiring.
