The mounting level of US debt risks a "reckoning" for the economy if the pace of growth doesn’t improve, said Goldman Sachs CEO. David Solomon said he saw a “low” chance of a recession in the near term.

Nasdaq futures rally after Amazon.com and Apple rose in late trading following strong earnings. S&P 500 contracts also climb, while Asian stocks and European equity futures underperform.

Chinese and Hong Kong shares decline. China’s factory activity slumped for the longest streak in more than nine years, prompting fresh calls for greater policy support. The US will proceed with an investigation that opens the door to new tariffs on goods from China, despite the two nations’ fresh truce, the US's top trade negotiator said.

US equity index futures climbed early on Friday after strong earnings from Amazon and Apple sent their shares surging in after-hours trading. Amazon’s cloud unit posted the strongest growth rate in almost three years. Apple predicted a major sales surge during the holiday season. Meta tumbled 11% on concerns over whether massive AI spending will pay off.

Treasuries edged lower as Meta re-opened the corporate-bond supply spigot with the year’s biggest offering. The dollar rose to its highest since July.

US equity futures gained as US-China trade tensions eased and investors stuck to bets on Federal Reserve interest-rate cuts before a key inflation reading this morning. Stocks fell in Europe on mixed earnings and contrasting economic data from France and Germany.

JPMorgan Chase plans to allow institutional clients to use their holdings of Bitcoin and Ether as collateral for loans by the end of the year in a significant deepening of Wall Street’s crypto integration.

Stocks in Asia extend gains amid signs of easing trade tensions. Benchmarks in Japan and South Korea hit all-time highs. Pro-stimulus Sanae Takaichi won the lower house of parliament vote to become Japan’s prime minister. The yen weakens. US and European equity futures are largely steady.

Strategists at Bank of America warn that further signs of strain in credit markets risk provoking another broad equities rout as long-only investors will be compelled to sell. Meantime, a BlackRock survey shows insurers overseeing $23t plan to add even more to their private market holdings as part of a strategy to smooth long-term returns.

Exchange-traded funds that hold bundles of corporate loans last week notched their first outflows since April, in the latest sign that investor concerns over credit quality are mounting.

A report criticizing “mark-to-myth” accounting in the $1.7 trillion private credit industry added to the air of apprehension across markets. A group of academics argued that direct lenders offer investors marginal returns compared with more transparent and widely-traded leveraged loans. Meanwhile, Federal Reserve researchers said hedge funds in the Cayman Islands may have held $1.4 trillion more of Treasuries at end-2024 than US official data show.

Asian stocks retreated along with US and European index futures as troubles at regional American banks soured risk sentiment. Government bonds rallied, sending the 5-year Treasury yield to the lowest in a year, while gold and silver climbed to records.

Treasuries surged, sending the two-year yield to the lowest level since September 2022, as US regional bank shares were routed by credit concerns that further cemented expectations for Federal Reserve interest-rate cuts. Stocks slid, as did Bitcoin, while gold hit another record.

Bank of Japan Governor Kazuo Ueda indicated the bank will continue tightening if confidence in achieving its economic outlook strengthens — keeping the door open for a near-term interest-rate hike.

Copper’s surge is spurring Chinese smelters to step up shipments abroad, lured by near-record prices in London while higher costs deter buyers at home.

US stocks fell amid signs the rally from April’s meltdown is stretched while Treasury yields ticked up and the dollar notched a 10-week high. Silver topped $50 for the first time since the Hunt Brothers’ 1980 squeeze, though it slipped back under that round figure. Gold slumped and oil sank amid cooling tensions in the Middle East.

?Stocks in Asia drop amid concerns around tech valuations. Hong Kong tech shares slide, along with Japanese equities. The dollar is set for a weekly gain, with traders adding options bets that the rebound will extend into year-end.

IPOs in India could raise as much as $20 billion over the next 12 months, helping the country to cement its position as one of the world’s busiest listings markets, according to Citigroup.

Japan’s new ruling party chief Sanae Takaichi pushed back against the view she favors further weakness in the yen. That follows a slump in the currency after her leadership win at the weekend.

The US Treasury intervened directly in Argentina’s currency market, spurring a rebound in the peso and sending the Latin American country’s dollar bonds soaring. Secretary Scott Bessent announced the US has agreed to extend major assistance to the country.