Stock Futures Rise as Tech Gain Tempers Virus Woes: Markets Wrap

(Bloomberg) -- Stock futures rose as a rally in technology shares tempered concern over tighter restrictions to combat the coronavirus amid cloudy prospects for economic stimulus.

S&P 500 contracts rebounded, while Nasdaq 100 futures extended gains as giants Apple Inc. and Amazon.com Inc. jumped in premarket trading. Meanwhile, Tesla Inc. slumped after Chief Executive Officer Elon Musk cautioned that any new technology unveiled at the “Battery Day” event on Tuesday may not reach serious, high-volume production until 2022.

These are some events to watch this week:

• Powell appears before the House Select Subcommittee on the coronavirus to discuss the central bank’s response on Wednesday.
• New Zealand rate decision on Wednesday.
• U.S. initial jobless claims are due Thursday.

Here are some of the main moves in markets:

Stocks

• Futures on the S&P 500 advanced 0.2% as of 8:43 a.m. New York time.
• The Stoxx Europe 600 Index climbed 0.5%.
• The MSCI Asia Pacific Index dipped 0.6%.

Currencies

• The Bloomberg Dollar Spot Index was little changed.
• The euro dipped 0.2% to $1.1753.
• The Japanese yen appreciated 0.1% to 104.56 per dollar.

Bonds

• The yield on 10-year Treasuries advanced one basis point to 0.67%.
• Germany’s 10-year yield advanced two basis points to -0.51%.
• Britain’s 10-year yield gained three basis points to 0.191%.

Commodities

• West Texas Intermediate crude climbed 0.7% to $39.60 a barrel.
• Gold fell 0.1% to $1,911.11 an ounce.
• Silver depreciated 1.5% to $24.34 per ounce.

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