Stocks in Asia to Start Week Firmer; Dollar Mixed: Markets Wrap

US stocks are set to open higher on Monday after their best week since November 2020 as traders debate whether the selloff is over.

In Hong Kong, futures rose as well as in Japan and Australia. The S&P 500 erased its May losses and snapped a string of seven weekly losses as institutional investors balanced their portfolios. Monday is a holiday in the US.

The euro fluctuated as the European Union failed to agree on a revised package of Russian sanctions.

All manufacturers in China were allowed to resume operations from June as authorities rolled out a number of policies to help the economy.

Wall Street will be split when the selloff ends.

After one of the worst starts to the year for equities, investors have been buying the dip. There is a wall of worries from the central banks, which are worried about a recession, food inflation from the war in Ukraine, and China's lockdowns.

The head of investment strategy and chief economist at AMP Capital said in a note that shares are yet to see clear signs of a wash out bottom.

According to a Bank of America Corp. note, global stock funds saw their largest inflow in 10 weeks.

There are some main moves in markets.

Stocks

• The S&P 500 rose 2.5%
• The Nasdaq 100 rose 3.3%
• Nikkei 225 futures rose 1.1%
• Australia’s S&P/ASX 200 Index futures gained 1.2%
• Hang Seng Index futures gained 0.5% earlier

Currencies

• The Bloomberg Dollar Spot Index fell 0.3%
• The Japanese yen was unchanged at 127.09 per dollar
• The euro was little changed at $1.0738

Bonds

• The yield on 10-year Treasuries declined one basis point to 2.74% Friday

Commodities

• West Texas Intermediate crude rose 0.9% to $115.07 a barrel
• Gold  $1,853.72 an ounce