European stocks and U.S. equity futures were steady as a gauge of global shares headed for a second-straight quarterly gain, underscoring investor optimism in the face of banking turmoil and elevated interest rates.
Consumer-related stocks outperformed and banks retreated as the Stoxx Europe 600 Index edged higher. Contracts on the S&P 500 were little changed as were those on the tech-heavy Nasdaq 100, after the underlying gauge rose 0.9 per cent overnight, pushing further into a bull market. Digital World Acquisition Corp., the blank-check firm taking Donald Trump's media company public, rallied in premarket after he became the first former president to be indicted.
The dollar strengthened Friday, trimming some of its declines this month. Treasury yields steadied at the end of a quarter of wild swings. Investors have struggled to adjust for banking collapses and the shifting outlook for interest rates amid high inflation and threats to economic growth. The two-year yield was around 4.13 per cent Friday while the 10-year maturity was about 3.55 per cent.
On Thursday, Boston Fed President Susan Collins said tightening was needed, while Richmond Fed President Thomas Barkin said the Fed can raise rates more if inflation risks persist. A team led by Beata Manthey upgraded U.S. stocks to overweight from underweight on Friday as they “perform more defensively than other markets” during earnings recessions. They expect global earnings-per-share to contract five per cent in 2023 and say that analysts are likely to slash profit estimates even further.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil extends gains as report points to shrinking U.S. stockpiles - BNN BloombergOil extended gains after an industry report signaled a big draw in U.S. crude stockpiles as an ongoing dispute halts exports from Turkey.
Read more »
Walmart and Costco in Canada not making food inflation worse: experts - BNN BloombergExperts say the Canadian presence of American retail giants such as Walmart and Costco isn't likely to blame for rising grocery prices.
Read more »
Stocks, U.S. futures rise as China tech buoys mood - BNN BloombergStocks rose with U.S. index futures as a rally in Chinese tech shares boosted sentiment and concern about contagion from banking turmoil continued to wane.
Read more »
Federal budget 2022: Highest-earning Canadians face minimum tax rate increase - BNN BloombergThe federal government is moving to raise the minimum tax rate paid by wealthy Canadians in the budget and narrowing its focus on the highest earners.
Read more »
Dollarama reports $261.3M Q4 profit, raises quarterly dividend - BNN BloombergDollarama raised its dividend as it reported a fourth-quarter profit of $261.3 million, up from $220.0 million a year earlier.
Read more »
The Daily Chase: Federal budget allocates $43B to new investments; Lululemon tops Q4 expectations - BNN BloombergLooks like a path back to a balanced budget is off the table for the time being.
Read more »