- As disappointing earnings from tech titans dampened the mood and derailed a shaky comeback in equities, stocks fell along with US equity futures. Benchmark yields on treasuries increased to 4%.
- Contracts on the tech-heavy Nasdaq 100 fell more than 1% in response to Amazon's after-hours decline after its sales forecast fell short of expectations. After cutting losses of roughly 1% each, the S&P 500 futures and the Stoxx Europe 600 were down as much as 0.7%.
- The S&P 500 is poised to post gains for a second straight week for the first time since august despite the dip.
- The benchmark 10-year Treasury yield topped 4% as the government bond rally started to fade. This week, government bonds were supported by expectations that authorities were getting ready to scale down their aggressive rate increases in response to weaker economic indicators.
- On Thursday, the ECB announced a second consecutive 75 basis-point rate hike but deleted a previous mention of rate increases continuing for many meetings. This move was viewed as dovish.
