- On Friday, US futures and European stocks gained modestly as investors awaited Federal Reserve Chair Jerome Powell's speech from Jackson Hole.
- Contracts on the S&P 500 gained 0.3%, indicating that underlying equities have recovered from Thursday's loss. The Stoxx 600 in Europe extended its first weekly gain in four weeks. Commodity stocks led the gains, as oil and iron ore prices rose.
- Equities have struggled for direction this week, rising sharply one day only to fall back the next as attention shifted from Nvidia Co earnings to the path of interest rates. The Nasdaq 100 futures were unchanged on Friday after the tech-heavy index fell more than 2% the day before.
- Treasury yields rose slightly, with 2-Yr notes, which are more sensitive to upcoming policy moves, remaining above 5%.
- Woodside LNG union members endorse in-principle agreement.
- China issues nationwide guidance on easing mortgage rules.
- China plans to reduce stamp duty on domestic stock trading by as much as 50% as soon as Friday, according to sources.
- Momentum is growing for a pause in ECB rate hikes as recession fears increase, but debate still open - sources with knowledge of the debate.
