European stocks and US equity futures fluctuated as investors assessed prospects for less-aggressive central bank tightening and weighed China’s latest move to stimulate its economy.
Contracts for the S&P 500 and Nasdaq 100 inched higher, with energy companies echoing gains in their European peers in premarket trading. Apple Inc. slipped after a report that production of iPhones in November could fall by at least 30% at a Chinese plant where worker protests have disrupted operations.
The dollar fluctuated after three straight days of losses. Treasuries steadied after rising during Asian trading. US markets will have a shortened session on Friday. on Friday cut the amount of cash lenders must hold in reserve for the second time this year, an escalation of support for an economy racked by surging Covid cases and a continued property downturn. The offshore yuan edged lower.
“In the next 12 months things will get better. We have seen this playbook before across other economies,” she said on Bloomberg Television. “We’ll begin to see outperformance very soon in the next few quarters.”