U.S. stock futures fell, suggesting markets could be in for another volatile day of trading following a head-spinning session on Thursday marked by mammoth swings in major indexes.
As of mid-morning trading in London:
- Futures for the S&P 500 and the Dow Jones Industrial Average both fell over 0.3%. Contracts for the technology-focused Nasdaq-100 lost 0.58%. The losses erased an earlier rally in futures markets.
- Major indexes in Europe and Asia jumped. China’s Shanghai Composite gained 1.8%, its biggest one-day rise since April, while Japan’s Nikkei 225 added about 3.3%, its biggest rise since March. The pan-continental Stoxx Europe 600 advanced 0.8%.
- Riskier assets including cryptocurrencies also rallied, with bitcoin climbing 1.4% to about $19,660 from its 5 p.m. ET level Thursday.
- The yield on the 10-year U.S. Treasury note fell to 3.909%, from 3.952% Thursday. The yield on the two-year note, which is generally more sensitive to near-term interest-rate expectations, fell to 4.422%.
- The WSJ Dollar Index edged slightly higher, rising 0.1%. Elsewhere in currency markets, the British pound fell 0.5% against the greenback.
- Brent Crude Oil slid 0.5% while Light Crude Oil slid 0.54%.
- VIX rose 0.69% while VIXmain slid 0.48%.
- In the U.K., yields on government bonds, or gilts, also retreated. The yield on the 10-year gilt traded at 4.003%. The U.K.'s benchmark FTSE 100 added 0.73%, while the FTSE 250, a more domestically focused index, added 0.58%.
- Investors are awaiting earnings from big banks including JPMorgan Chase and Morgan Stanley, both of which report before the opening bell.