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US equity-index futures rose after a volatile week as optimism grew over potential Federal Reserve interest-rate cuts. Bitcoin fell for the fifth time in six sessions, giving up some of its gains from the weekend.
Futures on the S&P 500 advanced about 0.4% as the new week began, after the underlying gauge gained on Friday to close out a turbulent stretch marked by a selloff in riskier corners of the market. Contracts for the Nasdaq 100 index rose 0.6%. Shares in Australia and South Korea edged up, while Japan is closed for a holiday.
Risk appetite improved on Wall Street after reports Friday that US officials were holding early talks on whether to allow Nvidia Corp. to sell its H200 artificial intelligence chips to China. The market also got an injection of hope after Fed Bank of New York President John Williams suggested a near-term rate cut remains a possibility.
Wall Street wrapped up a chaotic week with a turnaround in stocks after a selloff that whipsawed some of the most speculative assets of the market, testing investors’ nerves after a torrid rally.
“Given the moves that we saw last week, and the potential for more volatility in the coming days, investors will be understandably hesitant to throw the kitchen sink on positive risk sentiment,” said Nick Twidale, chief market analyst at AT Global Markets.
Markets saw a resurgence in volatility last week as doubts over the Fed’s ability to cut rates unsettled investors. Assets favoured by retail momentum traders — including cryptocurrencies and AI-related stocks — swung sharply, while a selloff in Asian tech shares drove the MSCI Asia Pacific Index to its steepest weekly drop since April.
US debt climbed on Friday after Williams, seen as a close ally to Chair Jerome Powell, said he sees room to ease policy in the near term, as downside risks to employment have increased while upside risks to inflation have eased. While traders boosted bets on a December cut, officials remained split on whether to lower rates, with Boston Fed chief Susan Collins indicating her mind isn’t made up about a policy move.
Read Also: US State Secretary Rubio sees Ukraine deadline easing after ‘productive’ talks
Futures on the S&P 500 advanced about 0.4% as the new week began, after the underlying gauge gained on Friday to close out a turbulent stretch marked by a selloff in riskier corners of the market. Contracts for the Nasdaq 100 index rose 0.6%. Shares in Australia and South Korea edged up, while Japan is closed for a holiday.
Risk appetite improved on Wall Street after reports Friday that US officials were holding early talks on whether to allow Nvidia Corp. to sell its H200 artificial intelligence chips to China. The market also got an injection of hope after Fed Bank of New York President John Williams suggested a near-term rate cut remains a possibility.
Wall Street wrapped up a chaotic week with a turnaround in stocks after a selloff that whipsawed some of the most speculative assets of the market, testing investors’ nerves after a torrid rally.
“Given the moves that we saw last week, and the potential for more volatility in the coming days, investors will be understandably hesitant to throw the kitchen sink on positive risk sentiment,” said Nick Twidale, chief market analyst at AT Global Markets.
Markets saw a resurgence in volatility last week as doubts over the Fed’s ability to cut rates unsettled investors. Assets favoured by retail momentum traders — including cryptocurrencies and AI-related stocks — swung sharply, while a selloff in Asian tech shares drove the MSCI Asia Pacific Index to its steepest weekly drop since April.
US debt climbed on Friday after Williams, seen as a close ally to Chair Jerome Powell, said he sees room to ease policy in the near term, as downside risks to employment have increased while upside risks to inflation have eased. While traders boosted bets on a December cut, officials remained split on whether to lower rates, with Boston Fed chief Susan Collins indicating her mind isn’t made up about a policy move.
Read Also: US State Secretary Rubio sees Ukraine deadline easing after ‘productive’ talks
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