U.S. Equity Futures, Dollar Steady After Tech Drop: Markets Wrap
- Date: 05-May-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Gulf
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.