Tech Reverses US Stock Losses as Treasuries Drop: Markets Wrap [BNN Bloomberg (Canada)]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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Source: BNN Bloomberg
A selloff in Treasuries drove benchmark yields to new highs for the year. Futures contracts for the S&P 500 rallied 0.8% in early Asian trading Friday, while those for the Nasdaq 100 rose more than 1%. The moves unwound Thursday's losses of around 0.5% for each benchmark and came after Microsoft and Alphabet both beat Wall Street profit estimates. Snap Inc. also rallied in late trading on a bullish revenue projection. Asian futures were mixed with Japanese contracts rising, while those for Australia and Hong Kong inched lower — although trading occurred prior to the two tech giants' results, meaning sentiment may swing by the time Asian markets open. In the bond market, Treasuries suffered further losses, as the prospect of Federal Reserve interest-rate cuts remains a way off. Swap traders have now pushed back the timing of the first rate reduction to December. A closely watched measure of underlying US inflation advanced at a faster-than-expected 3.7% clip. The print combined
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SNAP
Earnings
- 4/25/24 - Beat
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- SNAP's page on the SEC website