Stock market today: Live updates

Stock futures look set to rebound early Friday, following a sharp pullback on Wall Street that put the major averages on pace for weekly declines.

S&P 500 futures traded 0.25% higher, while Nasdaq-100 futures rose 0.5%. Dow futures added 134 points, or 0.25%.

The S&P 500 and Nasdaq Composite dropped 0.9% and 1%, respectively. That pullback left the S&P 500 down 1.9% for the week, and the Nasdaq off by 2.5% — putting them on pace to snap a three-week winning streak. The Dow Jones Industrial Average has fallen 1.8% week to date, on track for back-to-back weekly losses.

European stocks struggled for direction in early trade on Friday, with regional bourses and sectors opening in mixed territory.

The pan-European Stoxx 600 index opened just above the flatline, London’s FTSE 100 added 0.14%, while Germany’s DAX and France’s CAC were seen marginally lower.

In Asia, Japan’s Nikkei 225 closed 0.30% lower, while South Korea’s Kospi rose 0.88%. Australia’s benchmark S&P/ASX 200 fell 0.27%. Mainland China’s CSI 300 closed 0.57% higher.

Thursday’s losses came as long-dated U.S. Treasury yields resumed their march higher, after efforts by the government to stem the recent bond market rout failed to ease investor fears about inflation.

“Unlike QE via the [Federal Reserve], the Treasury cannot create money to fund asset purchases,” wrote Ulrike Hoffmann-Burchardi, chief investment officer of the Americas at UBS. “Any buybacks must be financed elsewhere, most likely through increased bill issuance or adjustments to other parts of its funding program.”

“In effect, the operation reshapes the maturity profile of debt held by investors rather than reducing the amount of debt markets must absorb. It neither removes the government’s financing needs nor resolves concerns about Treasury supply,” she wrote.

Ross Stores shares jumped more than 7% after hours on better-than-expected results for the second quarter.