U.S. stocks push higher after Wall Street's dismal week - BNN Bloomberg

European stocks and U.S. equity futures markets pushed higher early Monday, following Wall Street's worst week since December that saw traders come to terms with central bank policy that may remain restrictive for longer than thought on both sides of the…

The Stoxx 600 Index rose more than one per cent, with technology firms and retailers pacing gains and all industry groups in the green. Futures on the tech-heavy Nasdaq 100 and S&P 500 added at least 0.5 per cent. Among single name stocks, Hennes & Mauritz shares jumped as much as 4.2 per cent after Bank of America upgraded its rating. In the US premarket, Seagen Inc. rose about 12 per cent on a report that Pfizer Inc. is in early-stage talks to acquire the cancer therapy developer.

“Given our view that the earnings recession is far from over, we think March is a high risk month for the next leg lower in stocks” Wilson wrote in a note Monday. In Europe, traders are betting the European Central Bank will extend its tightening cycle beyond this year with rates peaking at 3.9 per cent in February 2024.

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