The Stoxx Europe 600 index was about 0.2 per cent higher after yesterday's near-3 per cent plunge. A gauge of bank stocks climbed about 1 per cent, recovering some of yesterday's 6.9 per cent loss, with UBS Group AG rising more than four per cent. Credit Suisse shares soared as much as 40 per cent before paring the advance.
Treasury 10-year yields edged higher following steep declines in the previous session. Bond across Europe declined, with the German 10-year yield up 15 basis points. An index of the dollar fell. Contracts for the S&P 500 erased an early advance to trade little changed after the index fell 0.7 per cent Wednesday. Tech stocks offered a bright spot as traders began to forecast interest rates climbing less than previously anticipated. Nasdaq 100 futures advanced Thursday after the benchmark posted its third day of gains on Wednesday. Adobe Inc. and Meta Platforms Inc. were among early gainers in premarket trading.
Traders were almost evenly split on whether the Federal Reserve will increase interest rates when it meets next week. Market pricing now suggests the Fed will soon pivot and will cut rates by as much as one per cent by the end of the year.
... up 50bp . Banks are strong, stop with the hyperbole. SVP is venture capital and very poorly managed.
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