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US Stock Futures Signal Small Bounce After Selloff: Markets Roundup.

stock :: 2025-03-11 :: source - bloomberg

By Aya Wagatsuma and John Viljoen


(Bloomberg) -- A global stocks selloff fueled by concerns about the American economy eased as US equity futures signaled modest gains on Wall Street. Bitcoin was poised to snap five days of losses.

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Contracts for the S&P 500 were up 0.4% after the benchmark index fell the most this year on Monday. Those on the Nasdaq 100 rose after the gauge’s deepest slump since 2022. Europe’s Stoxx 600 index was steady. Asian shares bounced off an intraday five-week low.

The euro strengthened 0.6% amid optimism lawmakers in Germany will reach an agreement over defense spending. A gauge of the dollar fell. Yields on policy sensitive two-year Treasuries pared a drop to the lowest level since October.

The mood in markets remains nervous after Wall Street investors tempered their bullish views due to concerns that tariffs and government spending cuts will hit US growth. There’s also an increasing view that President Donald Trump won’t intervene to support the market, while the Federal Reserve has signaled it’s in no rush to adjust interest-rate policy.

“In the short-term, it remains difficult to advocate buying dips, with the bear case holding more weight,” said Michael Brown, senior research strategist at Pepperstone. “Growth expectations continue to slide, dragging earnings expectations lower alongside, all the while policy uncertainty clouds the outlook, and as a ‘Fed put’ remains about as elusive as one from the White House.”

In the US Monday, the S&P 500 dropped 2.7%. The Nasdaq 100 lost 3.8%. In the megacap space, Tesla Inc. sank 15% while Nvidia Corp. drove a closely watched gauge of chipmakers to the lowest since April. About 10 high-grade companies delayed US bond sales.

Citigroup Inc. strategists downgraded US stocks to neutral from overweight while upgrading China to overweight, saying US exceptionalism is at least on pause. Citi raised China to overweight as the country looks attractive even after a recent rally.

Earlier, HSBC strategists raised their rating on European equities, excluding the UK, to overweight from underweight as they expect euro-zone fiscal stimulus to be “a potential game-changer.”

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Investors have been increasing hedges by shorting futures and options, and that often exacerbates selling, said Rajeev De Mello, a global macro portfolio manager at Gama Asset Management. Even after Monday’s rebound, De Mello said he remains wary.

“I remain cautious as investor sentiment has turned increasingly risk-averse,” he said.

Bitcoin erased a decline of as much as 3.4% to climb 1.9%. Oil steadied after a decline while gold gained.

Key events this week:

  • Japan GDP, household spending, money stock, Tuesday

  • US job openings, Tuesday

  • Canada rate decision, Wednesday

  • US CPI, Wednesday

  • Eurozone industrial production, Thursday

  • US PPI, initial jobless claims, Thursday

  • US University of Michigan consumer sentiment, Friday

Some of the main moves in markets:

Stocks

  • The Stoxx Europe 600 was little changed as of 8:36 a.m. London time

  • S&P 500 futures rose 0.4%

  • Nasdaq 100 futures rose 0.5%

  • Futures on the Dow Jones Industrial Average rose 0.3%

  • The MSCI Asia Pacific Index fell 0.7%

  • The MSCI Emerging Markets Index fell 0.4%

Currencies

  • The Bloomberg Dollar Spot Index fell 0.3%

  • The euro rose 0.6% to $1.0899

  • The Japanese yen was little changed at 147.18 per dollar

  • The offshore yuan rose 0.4% to 7.2329 per dollar

  • The British pound rose 0.3% to $1.2924

Cryptocurrencies

  • Bitcoin rose 2.1% to $80,927.99

  • Ether rose 2% to $1,906.22

Bonds

  • The yield on 10-year Treasuries declined two basis points to 4.19%

  • Germany’s 10-year yield advanced two basis points to 2.86%

  • Britain’s 10-year yield was little changed at 4.64%

Commodities

  • Brent crude rose 0.4% to $69.54 a barrel

  • Spot gold rose 0.6% to $2,906.91 an ounce

This story was produced with the assistance of Bloomberg Automation.

--With assistance from Abhishek Vishnoi, Jason Scott and Robert Brand.

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