U.S. stocks rise with bonds on hope rout has bottomed - BNN Bloomberg

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Stocks climbed with US equity futures Wednesday amid speculation that the worst of this year’s equity rout may be over.

Stocks climbed with US equity futures Wednesday amid speculation that the worst of this year’s equity rout may be over, even as concern over the potential for a global downturn sparked by hawkish central bank lingers.

Contracts on the Nasdaq 100 outperformed those on the S&P 500 as Netflix gained 7.5 per cent in premarket trading after it reported better-than-feared earnings late on Tuesday and said it expects to return to subscriber growth before the end of the year. Treasuries rose, pushing the 10-year yield below 3 per cent.

“The fact that companies are showing a certain resilience to the current environment is reassuring market operators who have now started betting on a less aggressive monetary tightening than initially expected,” said Pierre Veyret, a technical analyst at ActivTrades. “Even if we’re not out of the woods yet, more and more traders now tend to believe the worst is behind for equity markets this year.

 

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