Market Summary
Technology Stocks Stabilise After Volatile Week: Technology stocks pared their losses following a volatile week marked by significant pressure on AI-related valuations. South Korea’s KOSPI recovered from losses of 4.1% to trade little changed over the week, while the broader MSCI Asia Pacific Index was down just 0.2%. European equity futures pointed to a modestly stronger open, while Nasdaq 100 futures gained 0.1%.
Treasury Yields Edge Higher as Safe-Haven Demand Eases: US Treasuries gave back some of their recent safe-haven gains, with the 10-year yield rising by two basis points to 4.97%. USD/JPY stabilised around the 157 level following a volatile move lower on Thursday.
Brent Heads for Third Consecutive Weekly Gain: Brent crude reached $114.35 a barrel as continued attacks on Saudi Arabia increased the risk of wider disruption to Middle Eastern energy supplies. Houthi militants claimed responsibility for a recent attack on a Saudi port and a deadly strike on a nearby oil field, while regional oil exports continued to recover towards pre-war levels. Speaking at the White House, President Trump threatened to go a “little further” with strikes in the Middle East.
Economic Calendar
- US Flash PMIs
- University of Michigan Consumer Sentiment Survey
Key Market Moves Today
- S&P 500 Futures: -0.01% (7,703)
- Crude Oil: +1.25% ($100.71)
- Spot Gold: -0.25% ($4,015)
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