- US equity futures and an Asian stock index rose as investor sentiment improved following a surge in Facebook parent Meta Platforms inc. and more pledges of Chinese economic support.
- Contracts for the tech-heavy Nasdaq 100 rose 1%, while an Asia-Pacific share index showed modest gains. Japan's bourse was up, while Hong Kong and China fluctuated. Wall Street equities gained ground on Wednesday.
- In extended trading, Meta rose 18% after Facebook's main social network added more users than expected. This improved sentiment toward mega-cap US technology stocks and boosted the largest ETF tracking the Nasdaq 100.
- Officials in China have increased economic support pledges in the face of covid lockdowns. The most recent move was a pledge to stabilise employment. The twin virus outbreaks in Shanghai and Beijing appeared to be levelling off.
- Treasuries were little changed as investors assessed the risks posed by the prospect of aggressive Fed monetary policy tightening to combat high inflation. The dollar index was at its highest level since 2020.
