Most stocks rose as Goldman Sachs Group Inc. and BlackRock Inc. soured on equities for the short term and Citigroup Inc. said bearish positioning continues to rise. Tech giants including Apple Inc., Amazon.com Inc. and Alphabet Inc. advanced in premarket trading as US index futures rebounded with Europe’s Stoxx 600.
UK markets clawed back some losses even after Chancellor of the Exchequer Kwasi Kwarteng vowed to stay the course on his economic strategy that triggered the market meltdown late last week. Gilt yields slipped following the biggest-ever surge and the pound rose about 1 per cent after falling to a record low.
Volatility across markets was also reflected by the risk of future price swings, which reached the highest since the beginning of the pandemic, as shown by a Bank of America index.
Source: Financial Digest (financialdigest.net)
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