U.S. Equity Futures, Dollar Steady After Tech Drop: Markets Wrap

U.S. Equity Futures, Dollar Steady After Tech Drop: Markets Wrap

(Bloomberg) -- U.S. equity futures edged up and Asian stocks were mixed Wednesday after markets dipped overnight on a technology selloff and Treasury Secretary Janet Yellen’s comments on interest rates. The dollar held gains.

S&P 500 contracts rose after a climb in the commodity, financial and industrial sectors helped the gauge pare losses. Nasdaq 100 futures steadied following a weaker close for the index amid declines in Apple Inc., Tesla Inc. and Amazon.com Inc. European futures advanced. Australian shares rose and Hong Kong dropped. A number of key Asian markets were shut for holidays.

Yellen said rates will likely rise as government spending ramps up and the economy responds with faster growth -- comments that economists regarded as self-evident. In a subsequent interview, the former Federal Reserve Chair said she wasn’t predicting or recommending rate hikes.