The Money Edit

Opening bell

Opening bell

S&P futures 0.4%
Brent crude $103.01 1.2%
10Y Treasury 5.25%
Nasdaq futures 0.7%
German DAX 1% to 25,044.82
Gold 1.1% to $4,200.90

Oil retreats, futures rise after tech selloff

Overnight

US stocks finished a split session on Thursday, with the Nasdaq composite down 1.3 percent to 27,193.34 on a second day of selling in artificial intelligence related shares, while the S&P 500 slipped 0.5 percent to 7,765.36 and the Dow eked out a 0.1 percent gain to 51,231.64. Overnight the pressure eased because Brent crude, the global oil benchmark, fell 1.2 percent to $103.01 a barrel after Thursday's jump above $104, and the 10-year Treasury yield settled at 5.25 percent after touching 5.35 percent Thursday. Asia was mixed, with the Hang Seng up 425 points to 24,211 and Tokyo's Nikkei roughly flat at 69,030, while Europe rallied, the German DAX up 1 percent to 25,044.82 and the FTSE 100 up 0.9 percent to 10,538.88, leaving S&P 500 futures up 0.4 percent and Nasdaq futures up 0.7 percent.

What to watch

The one scheduled US release is the University of Michigan consumer sentiment survey at 10am Eastern, a monthly poll of how households feel about their finances, expected at 48 against 48.1 last month, and its inflation expectations figures matter more than usual because the Federal Reserve watches whether people have started assuming higher prices are permanent. Delta Air Lines reported before the open and cut its full year adjusted profit forecast to a range of $5.10 to $5.60 a share from $6.50 to $7.50, an early signal that higher fuel costs are reaching company earnings rather than just headlines. Otherwise today is a quiet bridge into next week, when the largest US banks report and China publishes its latest growth figures.

Sources