The S&P 500 slipped 0.3% last week, paring gains after a midweek rebound that briefly snapped a three-day losing streak. The dollar index climbed 0.55% to 98.18, pushing US 10-year Treasury yields up 5 basis points to 4.18%.
In Europe, markets edged higher with the exception of Spain, even as the country notched a rare double upgrade from Fitch and Moody’s. US futures also pointed to a positive open, with investors eyeing Friday’s nonfarm payrolls as the key catalyst.
On the corporate front, Huawei unveiled a three-year investment plan to challenge Nvidia in AI chips, spurring optimism that is drawing global funds back to China after a four-year drought, led by a rally in technology stocks.
Meanwhile, Germany has reportedly discovered one of the world’s largest lithium deposits, a potential boost for Europe’s green transition.
In Washington, President Trump is expected to meet Democrats in a bid to avoid a government shutdown, adding a layer of political uncertainty to markets.