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Tech Drives Rebound in Stock Futures; Dollar Gains: Markets Wrap

Mount Equity Group Tokyo, Japan > News > Markets > Tech Drives Rebound in Stock Futures; Dollar Gains: Markets Wrap

(Bloomberg) — Stock futures rebounded as technology companies gained in premarket trading. The dollar rose for a fifth day, its longest winning streak in two months.

S&P 500 contracts turned green, while Nasdaq 100 futures outperformed. Equities still headed toward a weekly drop as faltering growth and China’s regulatory curbs compounded risks before the Federal Reserve’s Jackson Hole symposium next week.

Analysts cautioned that options expiring in the U.S. on Friday may fuel market volatility. With virus cases surging around the world, there’s speculation that economic growth could lose momentum just as central banks pare back their support measures.

“August is a historically volatile month for markets, and this year is no different,” said Rod von Lipsey, managing director at UBS Private Wealth Management. “While investors have understandably been worrying about the Federal Reserve’s potential tapering plans, against…

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