(Bloomberg) -- The one-day rebound in U.S. stocks looked to be short-lived, with futures turning sharply lower as jitters in the technology sector spread ahead of a raft of major earnings. Treasuries resumed a slide and the dollar was steady.
Futures on the Nasdaq 100 Index led declines as Facebook Inc. trimmed early gains and Microsoft Corp. fell after reporting results last night. Apple Inc. leads a trio of megacap results after the close Thursday. Company results set the tone in Europe, where equities failed to hold early gains amid selling in health-care stocks. Earlier, the MSCI Asia Pacific Index rose, with a surge in Japan offsetting declines in China and India.
The 10-year Treasury yield breached 2.75 percent after a hawkish Federal Reserve statement, with selling in bonds spreading to Europe amid solid manufacturing data from the region. The pound increased a third day alongside the euro, though U.K. numbers disappointed.
Investors are weighing the path of monetary policy at a time of synchronized global growth and rising corporate profits that’s pushed equity gauges to unprecedented levels and sent benchmark bond yields to the highest in almost four years. The Fed on Wednesday acknowledged stronger growth, expressed more confidence that inflation will rise to its 2 percent target, and set the stage for a March interest-rate increase.
Elsewhere, oil rose and gold retreated as Bloomberg’s commodity index headed for a fourth consecutive drop. And following a miserable January Bitcoin slipped below $9,500.
Terminal users can read more in our markets blog.
Here are some important things to watch out for this week:
- U.S. employers probably added more jobs in January than a month earlier, economists forecast before the Friday report.
- Technology earnings continue with Apple Inc., Alphabet Inc. and Amazon.com Inc.
And these are the main moves in markets:
- The Stoxx Europe 600 Index fell 0.1 percent as of 9:06 a.m. New York time, the lowest in four weeks.
- Futures on the S&P 500 Index decreased 0.3 percent to the lowest in almost two weeks.
- The MSCI Asia Pacific Index gained 0.3 percent.
- The U.K.’s FTSE 100 Index dipped 0.2 percent to the lowest in almost seven weeks.
- The MSCI Emerging Market Index sank 0.3 percent.
- The Bloomberg Dollar Spot Index fell less than 0.05 percent.
- The euro advanced 0.3 percent to $1.2456, the strongest in more than three years on the largest gain in more than a week.
- The British pound increased 0.3 percent to $1.423, the strongest in more than a week.
- The Japanese yen declined 0.4 percent to 109.59 per dollar, the weakest in more than a week.
- South Africa’s rand declined 0.3 percent to 11.8863 per dollar.
- The MSCI Emerging Markets Currency Index decreased 0.2 percent.
- The yield on 10-year Treasuries increased three basis points to 2.74 percent, the highest in almost four years.
- Germany’s 10-year yield advanced two basis points to 0.72 percent, the highest in more than two years.
- Britain’s 10-year yield climbed two basis points to 1.533 percent, reaching the highest in 21 months on its seventh straight advance.
- West Texas Intermediate crude advanced 1.1 percent to $65.44 a barrel, the largest gain in more than a week.
- Gold fell 0.4 percent to $1,340.07 an ounce.
--With assistance from Sophie Caronello
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