(Bloomberg) – The stock market was poised for a rebound at the end of a chaotic week, with a rally in regional banks softening data showing job resilience. Treasury yields rose with the dollar.
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S&P 500 futures signaled the benchmark stock will rise after its longest losing streak since February. PacWest Bancorp rose after a six-day selloff that saw shares plummet over 70%. Western Alliance Bancorp and First Horizon Corp., which were badly hit in the previous session, also bounced. Apple Inc., the world’s most valuable company, rose on solid earnings.
In the US, more jobs were created in April than expected and the unemployment rate fell to a decade low, underscoring the strength of the job market despite growing economic headwinds.
Some of the key movements in the markets:
Shares
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S&P 500 futures were up 0.6% at 8:36 a.m. New York time
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Nasdaq 100 futures up 0.5%
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Futures on the Dow Jones Industrial Average rose 0.5%
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The Stoxx Europe 600 rose 0.5%
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The MSCI World Index has hardly changed
currencies
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The Bloomberg Dollar Spot Index rose 0.1%
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The euro fell 0.2% to $1.0986
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The British Pound was little changed at $1.2580
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The Japanese yen fell 0.4% to 134.78 per dollar
cryptocurrencies
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Bitcoin rose 0.1% to $28,924.43
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Ether is up 1% to $1,897.09
Bind
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The 10-year government bond yield rose five basis points to 3.43%
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The 10-year German government bond yield rose 10 basis points to 2.29%
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The 10-year UK government bond yield rose 12 basis points to 3.78%
raw materials
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West Texas Intermediate crude rose 3.3% to $70.80 a barrel
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Gold futures fell 1.1% to $2,032.80 an ounce
This story was created with the support of Bloomberg Automation.
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