US stocks set to open lower as investors brace for slew of big earnings after bubble jitters hit Asia
Added 01-26-21 06:14:02am EST - “Wall Street's remarkable run was set for a pause on Tuesday ahead of major Q4 earnings. Asian stocks slid overnight as worries about bubbles set in.” - Businessinsider.com
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US stocks were set to open slightly lower on Tuesday, after rising to fresh all-time highs as investors braced for a red-hot week of earnings, while Asian stocks tumbled overnight on concerns about asset bubbles and coronavirus.
S&P 500 futures were down 0.19% on Tuesday morning, while Nasdaq futures were off by 0.31%. Dow Jones futures had slipped 0.07%. The dollar rose but bonds slipped.
Asian stocks slid overnight as Chinese short-term borrowing costs hit pre-coronavirus levels thanks to the People's Bank of China draining liquidity from the financial system. European stocks opened higher after strong earnings from UBS.
A PBOC official said the country should stop setting GDP targets as it could lead to more debt and "future financial risks," the South China Morning Post reported, adding to fears of a stock-market bubble.
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