Tech Regains Footing, Undergirds Wall Street Pre-Bell; Asia Mixed, Europe Off

MT Newswires Live10-23 19:25

Wall Street futures churned modestly lower pre-bell Friday as the tech rout faded, but traders continued to weigh global crude prices and Persian Gulf tensions.

In the futures, the S&P 500 fell 0.3%, the Nasdaq declined 0.1% and the Dow Jones was off 0.6%.

Bucking trends, the VanEck Semiconductor fund (SMH) traded up 0.6% pre-bell.

On the economics front, West Texas Intermediate crude oil traded up 1.6% to $101.00 a barrel, and 10-year US Treasuries offered 4.98% in morning action.

Investors look forward to the S&P Global US manufacturing, services and composite purchasing manager index reports for October, slated for a 9:45 am ET release.

Asian exchanges traded unevenly overnight, while European bourses tracked moderately lower midday on the continent.

On the economic calendar, in addition to the PMI report, is the University of Michigan consumer sentiment bulletin for October at 10 am ET, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.

In pre-market action, Bitcoin traded at $81,583, and spot gold commanded $4,044 an ounce.

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