A six-day rally in US stocks looks set to pause as equity-index futures declined following disappointing earnings from Super Micro Computer Inc.
Contracts for the S&P 500 and the Nasdaq 100 indexes both fell at least 0.5% in Asian trading as Super Micro plunged 15% in after-market hours, ahead of earnings from mega cap companies such as Microsoft Corp. and Meta Platforms Inc.
Asian shares rose 0.4%. Treasuries extended this month’s advance, with 10-year yields falling for a seventh day. The dollar was steady while gold dropped 0.4%.
Futures for European stocks pointed to declines. The global stock rally faces a key test Wednesday when the US releases inflation and gross-domestic-product data that will give investors more information on how the economy was faring just before President Donald Trump announced country-specific levies on April 2.
In recent weeks, investors have been cautiously optimistic after some tariff reprieves and speculation the Federal Reserve will cut interest rates to prevent a recession.
