European stocks climb on earnings; US futures mixed

Bloomberg

European stocks got a boost from upbeat corporate results that helped allay concern about the rising toll of the virus. The dollar extended a rebound.
The Stoxx Europe 600 Index surged 0.7%, with energy and tech firms leading gains in almost every industry sector. S&P 500 contracts erased losses
following a retreat in the US benchmark all week. Nasdaq 100 futures were lower.
Mixed messages are creating a conundrum for investors, with corporate results reflecting optimism that growth is set to roar back from pandemic-induced recessions even as the virus spreads at an alarming rate in the developing world. Stocks near record highs are now under pressure from the threat of new lockdowns that could delay global economic
rebounds.
On the corporate earnings front, Dutch chip-equipment maker ASML Holding NV jumped 4.5% after it said it expects 2021 revenue growth of about 30% from a year ago, compared to a previous target of “double-digit” growth. Swiss drugmaker Roche Holding AG also rose after prospects for new medicines overshadowed a drop in first-quarter sales.
The dollar headed for a second day of gains, the longest streak since March. Treasuries paused a rally that sent the 10-year yield to its lowest level in more than five weeks, as the benchmark added two basis points.
Futures on the S&P 500 Index climbed 0.1% as of 9:03 am London time and the Stoxx Europe 600 Index increased as much as 0.7%.
While the MSCI Asia Pacific Index decreased 1.4%, the MSCI Emerging Market Index decreased 1%.
The Bloomberg Dollar Spot Index rises 0.1% and the euro declined 0.2% to $1.2008.
While the British pound was little changed at $1.3933, the onshore yuan was little changed at 6.497 per dollar and the Japanese yen weakened 0.1% to 108.22 per dollar.
The yield on 10-year Treasuries jumped two basis points to 1.57% and the yield on two-year Treasuries climbed less than one basis point to 0.15%.
While Germany’s 10-year yield gained one basis point to -0.25%, Japan’s 10-year yield falls one basis point to 0.08% and Britain’s 10-year yield jumped two basis points to 0.748%.
West Texas Intermediate crude declined 0.4% to $62.44 a barrel and Brent crude dipped 0.3% to $66.40 a barrel. Gold strengthened 0.2% to $1,782.24 an ounce.