- Asian stocks rose and US equity futures fell as a surge in Chinese technology shares lifted sentiment, alleviating some of the disappointment from mixed earnings.
- An Asian share index gained less than 0.5%, with gains in Japan, Hong Kong, and China. European futures outperformed the S&P 500 and the Nasdaq 100.
- Markets had previously been in a downbeat mood following a drop of about 27% in social-media firm Snap inc. in extended trading on poor results that signalled concerns about an advertising and thus wider economic slowdown.
- The drop weighed on Facebook parent meta platforms inc. and Google's alphabet inc., taking some of the lustre off the S&P 500's best three-day gain since late May.
- Treasuries pared their gains from the Wall Street session, but the 10-year yield remains below 3%. Rising US unemployment claims, a bleak regional factory outlook, and a weaker leading economic indicator signalled recession risks amid tightening monetary policy, boosting bond demand.
- Traders are also keeping an eye on President Biden's health after he tested positive for covid and displayed mild symptoms.
