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US Futures Rise As Global Bond Rout Fizzles
US equity futures rose, extending yesterday's gains, while global bond yields stabilized, fueled by expectations of faster US interest-rate cuts. The market awaits key economic data, including the ADP employment report and ISM Services data, and the pivotal jobs report on Friday. Several tech stocks, like Amazon and Tesla, showed premarket gains, while European markets also saw increases, with French bonds leading the way. American Eagle's stock surged due to strong earnings, while other companies like C3.ai and Figma experienced significant drops following their earnings reports. The labor market is showing signs of cooling, and traders are now pricing in a high likelihood of a rate cut this month. Investors are also wary of potential political influence on the Federal Reserve and its policies. The market also saw notable movements in European stocks, including gains for Genus and Currys. Commodity markets saw declines, including oil and gold.