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Business Maverick: Stocks mixed as US futures climb and pound Advances: markets wrap

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Stocks were mixed in Asia and US equity futures climbed as traders assessed prospects for earnings growth against a backdrop of rising interest rates.

An Asia Pacific share gauge fluctuated, with stocks rising in Japan and South Korea but falling in Hong Kong. US equity futures signalled further gains after several positive results on Tuesday, including from Netflix which reported a surge in subscribers.

The dollar was steady, while the pound rose against most G10 peers ahead of the first inflation data to print in wake of the UK government’s fiscal fiasco and as the nation backs a new chancellor. Upbeat company results, cheaper valuations and UK policy reversals have helped buoy risk appetite. The sentiment on stocks and global growth among fund managers surveyed by Bank of America showsDespite the optimism, Terry Sandven, chief equity strategist at US Bank Wealth Management, warned that challenges remain. “Analysts’ consensus earnings projections remain subject to downward revision,” he wrote in a note.

 

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