US equity futures faded yesterday’s weakness and rebounded from overnight lows, as European stocks snapped their longest streak of losses since October as 10Y yields steadied and attention shifted to corporate earnings and economic data away from reflation fears.
Global shares edged up on Friday, reversing three days of losses, as investors clung to hopes of economic recovery ahead, even as German and British 10-year bond yields touched multi-month highs, spurred by bets of global reflation. Oil added to recent losses while the dollar slumped even as sentiment out of China remained muted after another day of liquidity drains from the PBOC.
The MSCI world equity benchmark was 0.2% stronger. On Thursday, Wall Street logged its biggest daily drop in nearly three weeks on a slide in technology-related firms, ahead of today’s PMI report. At 715 a.m. ET, Dow e-minis were up 52 points, or 0.172%, S&P 500 e-minis were up 13.5 points, or 0.35%, and Nasdaq 100 e-minis were up 57.25.75 points, or 0.42%. Some of the notable pre-market movers include: