• Stocks in Asia were set to open higher after a US rally in tech heavyweights, whose high-stakes earnings are being seen by Wall Street investors as a major test of the bull run in equities.
  • Futures for equity benchmarks in Japan, Hong Kong and Australia pointed up, while US futures rose in early trading. In late US hours, Tesla Inc. soared as the electric-vehicle giant struck an upbeat tone despite a sales miss, the first of the “Magnificent Seven” megacaps to report. The stock halted a seven-day plunge, climbing alongside other members of the group.
  • Meanwhile, weakness in measures of business activity helped keep alive forecasts for US rate cuts this year, which was positive for equities but weighed on the dollar and Treasury yields.