U.S. Stock Futures Decline in Holiday-Hit Trading: Markets Wrap
Contracts on the S&P 500 Index, Dow Jones Industrial and Nasdaq indexes all pointed to declines at the open. Tesla fell in the pre-market session after Elon Musk began a Twitter dispute with the carmaker’s main lithium-ion battery supplier. The dollar held steady while 10-year Treasury yields inched up.
In Asia, Chinese stocks and bonds fell as investors wagered future stimulus will be limited, while shares in Japan swung between gains and losses before finishing slightly higher. In Sri Lanka, bonds and the rupee slipped after Sunday’s terrorist attacks.
With corporate reporting season in full flow, investors are looking for clues as to whether the dovish policy pivot from the world’s central banks can shore up global growth enough to outweigh any deterioration in the earnings picture. The stock market appears to be saying yes for now, with an MSCI gauge of global equities on track for a fourth month of gains.
Traders have a week full of company earnings releases to look forward to, including from major technology firms. They’ll also be focused on the U.S. economy, with first-quarter gross domestic product data due Friday.
