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(Bloomberg) -- The technology-led tumult that sent U.S. stocks into a tailspin showed signs of easing on Tuesday, with futures contracts for the main American gauges rising after Asia’s benchmark pared most of its decline. European shares fell, but losses were relatively contained.

The Nasdaq 100, S&P 500 and Dow were all poised to open in the green following Monday’s selloff, while Treasuries fell with the dollar. The Stoxx Europe 600 Index headed for its first decline in four days as markets reopened after the long weekend, though the drop was less than a quarter of the S&P 500’s retreat a day earlier. The weakest euro-area manufacturing figures for eight months added to the sense of caution and the euro pared its advance.

After the worst three months for global stocks in more than two years, the second quarter has started on the back foot as trade tensions festered and technology shares got slammed. The risk-off mood comes as investors prepare for earnings season. They still anticipate a strong showing, but will be watchful for any more signs of a slowdown in the synchronized global expansion.

“What we are really seeing across the economies and markets are opposing forces playing out: in the economy you are seeing Fed versus inflation, in markets you are seeing momentum versus fundamental supports,” JPMorgan Asset Management Global Market Strategist Hannah Anderson told Bloomberg TV. “Investors need to be aware of these opposing forces along with a lot of the headline risk we are seeing come through when it comes to trade and regulation and how that’s going to impact their portfolios.”

Despite the turmoil in technology stocks, music-streaming service Spotify Technology SA is set to launch its alternative IPO on the New York Stock Exchange.

Elsewhere, the Reserve Bank of Australia left interest rates unchanged at its monthly meeting. West Texas crude edged higher after its biggest loss in almost two months.

Terminal users can read more in our markets live blog.

Here are some key events coming up this week:

  • The New York Fed debuts the Secured Overnight Financing Rate on Tuesday.
  • The Reserve Bank of India decides on policy Thursday.
  • U.S. employment data are due Friday; the jobless rate probably fell in March after holding at 4.1 percent for five straight months.

These are the main moves in markets:

Stocks

  • The Stoxx Europe 600 Index fell 0.3 percent as of 8:43 a.m. New York time, the first retreat in more than a week.
  • Futures on the S&P 500 Index increased 0.8 percent.
  • The MSCI All-Country World Index declined 0.1 percent to the lowest in 19 weeks.
  • The U.K.’s FTSE 100 Index decreased less than 0.05 percent, the first retreat in more than a week.
  • Germany’s DAX Index fell 0.6 percent, the largest fall in more than a week.
  • The MSCI Emerging Market Index rose 0.2 percent to the highest in a week.
  • The MSCI Asia Pacific Index dipped 0.1 percent.

Currencies

  • The Bloomberg Dollar Spot Index declined 0.1 percent to the lowest in a week.
  • The euro decreased less than 0.05 percent to $1.2299, the weakest in two weeks.
  • The British pound gained 0.1 percent to $1.4063.
  • The Japanese yen fell 0.3 percent to 106.25 per dollar.

Bonds

  • The yield on 10-year Treasuries gained two basis points to 2.75 percent, the biggest advance in more than a week.
  • Germany’s 10-year yield was unchanged at 0.50 percent, the lowest in 12 weeks.
  • Britain’s 10-year yield dipped one basis point to 1.35 percent, reaching the lowest in more than 10 weeks on its seventh straight decline.

Commodities

  • West Texas Intermediate crude gained 0.4 percent to $63.28 a barrel.
  • Copper increased 0.4 percent to $3.06 a pound, reaching the highest in more than two weeks on its fifth consecutive advance.
  • Gold decreased 0.2 percent to $1,338.88 an ounce.

--With assistance from Jeremy Herron Sarah Ponczek Andreea Papuc and Ksenia Galouchko

To contact the reporter on this story: Samuel Potter in London at spotter33@bloomberg.net.

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Todd White

©2018 Bloomberg L.P.

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