US Stock Futures Rise as Turbulent Week Nears End: Markets Wrap
(Bloomberg) — Cautious trading kept gains in US stock futures modest ahead of Friday’s open after a dramatic week that had traders juggling a rotation from the artificial-intelligence trade, a sharp rebound in Treasuries and hot inflation.
S&P 500 contracts rose 0.2%. Chipmakers remained under pressure. Treasury yields resumed their climb, with 10-year yields up four basis points, though still headed for their biggest weekly drop since February. The dollar fell 0.3%. Brent crude trimmed a weekly advance to trade near $105 a barrel.
Traders have faced a bruising week for tech and a revival of Treasuries as a haven. With jitters over the cost of the AI buildout mounting, the Nasdaq 100 has shed 3% since Monday. Meanwhile, high energy prices are rippling through the global economy, keeping pressure on central banks to tighten policy.
“The economy remains in expansion, but households and leveraged companies are feeling the pressure,” said Florian Ielpo, head of macro at Lombard Odier Investment Managers. “That supports a constructive view on government bonds, alongside a more selective approach to equities.”
Federal Reserve Chair Kevin Warsh offered no remarks on near-term policy in a discussion at the International Monetary Fund’s annual meetings in Bangkok. Traders subsequently dialed back bets on an October hike that had risen after this week’s stronger-than-expected inflation readings, putting the chance of a move at around 15%.
“The tone was one of discipline rather than urgency,” said Francisco Simón at Santander Asset Management. “What stood out was the emphasis on maintaining focus on inflation, without appearing overly reactive.”
Europe’s Stoxx 600 rose 0.5%, led by media and auto stocks. The rotation from tech is helping the index push toward its first week of outperformance against the S&P 500 since August.
In China, regulators moved to stabilize the equity market by urging companies and state funds to buy shares while guiding some investors to curb selling, people familiar with the matter said.
What Bloomberg Strategists Say:
“Bonds can hedge equity risk again. It is truly wild to see yields fall in a week where the key data surprised to the upside. The AI trade is now so important to the economy and markets that fears of a meaningful downturn can outweigh the inflationary supply shock and restore the haven bid for bonds.”
Corporate News:
Netflix Inc. is replacing its chief creative officer with a veteran TV and film executive, Peter Rice, accelerating efforts to reinvigorate growth and reverse a slowdown in viewers and revenue at the streaming giant. UniCredit SpA won approval from the European Central Bank for its increased Commerzbank AG stake, paving the way for Chief Executive Officer Andrea Orcel to take over the German lender.
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 0.5% as of 10:32 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures were little changed Futures on the Dow Jones Industrial Average rose 0.3% The MSCI Asia Pacific Index rose 1.2% The MSCI Emerging Markets Index rose 0.7% Currencies
The Bloomberg Dollar Spot Index fell 0.3% The euro rose 0.3% to $1.1253 The Japanese yen was little changed at 157.94 per dollar The offshore yuan was little changed at 6.6861 per dollar The British pound rose 0.5% to $1.3335 Cryptocurrencies
Bitcoin was little changed at $82,067.26 Ether was little changed at $2,450.11 Bonds
The yield on 10-year Treasuries advanced four basis points to 5.10% Germany’s 10-year yield advanced one basis point to 3.43% Britain’s 10-year yield was little changed at 5.38% Commodities
Brent crude fell 0.7% to $105.13 a barrel Spot gold rose 0.3% to $4,182.22 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Neil Campling and Julien Ponthus.
©2026 Bloomberg L.P.
