US Futures Dragged by Tech as World Stocks Watch – Europe Market Wrap

On a day when global indexes were aiming for new highs, US stock futures were hampered once more by a decline in technology stocks.

The Nasdaq 100 contracts were expected to lose 0.5% at the outset, with Broadcom plunging more than 5% in premarket trade after its sales forecast fell short of lofty expectations. S&P 500 futures fell 0.1% after the index set a new record close the day before. In contrast, gauges for US blue-chip and small-cap stocks were ready to extend their push to new highs.

The divergent fortunes of US stocks highlight the expansion of a rally that has put the US benchmark on course for a third consecutive year of gains. For many investors, this week’s confirmation that the Fed’s interest-rate dropping cycle is still intact helps pave the way for a year-end rally.

In other regions of the world, Europe’s Stoxx 600 surged as much as 0.5% to a new high, while Asia’s index increased less than 2% from its all-time high.

Gold increased for the fourth consecutive day, while silver extended its all-time high. Oil rebounded from its lowest close in over two months.