“U.S. stock index futures inched higher on Tuesday as global markets bounced back from concerns of weakness in Turkish currency, with gains in technology stocks lifting sentiment,” Amy Caren Daniel reports for Reuters.
“After three weeks of losses, Turkey’s lira recovered as the country’s central bank moved to ease pressure on the currency, triggering a surge of as much as 7 percent to 6.4 per U.S. dollar,” Daniel reports. “Still the lira has shed more than two-fifths of its value so far in 2018, hitting U.S. and European stocks as investors fretted about banks’ exposure to Turkey.”
“Shares of the big six U.S. lenders were trading between flat and up 0.6 percent in early premarket trading on Tuesday,” Daniel reports. “Also helping the markets were gains in the so-called FAANG group: Facebook, Apple, Amazon, Netflix and Google-parent Alphabet. Nvidia jumped 1.4 percent after the rollout of its newest generation of chip technology. Intel was up 0.6 percent, Micron climbed 0.8 percent, AMD gained 1.2 percent.”
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