U.S Futures Inch Upward Amid Trade Policy Uncertainty

By Adam WhittakerU.S. stock futures nudged up after the Trump administration's seesawing trade policy hit stocks on Wall Street Thursday, with strong after-hours earnings from Broadcom a potential bright spot as investors increasingly fret about growth.On Friday, stock markets in Asia and Europe fell, the dollar continued to ease, and bonds steadied following a week of soaring yields.U.S. nonfarm payrolls will be a major focus later Friday.U.S. stock futures for the S&P 500 were up 0.3% after closing down 1.8% Thursday. The U.S. Treasury yield last traded down three basis points. The dollar hovered near four-month lows as investors exercised caution ahead of the nonfarm payrolls report, which is expected to show 159,000 job additions in February.In Europe, the Stoxx Europe 600 fell 0.7% and the FTSE 100 lost 0.6%. Germany's DAX dropped 1.5%.Eurozone bonds steadied after Germany's large-scale spending program prompted the largest one-day move in Bunds since 1990 on Wednesday when 10-year Bund yields rose 30 basis points. On Friday, and following the ECB's latest rate cut, the 10-year Bund yield fell 6.5 basis points to 2.832%.Asia markets were lower, tracking the selling on Wall Street. Among the major Asian indexes, Nikkei fell the most, closing 2.2% lower. The yen strengthened against most other G-10 and Asian currencies, and the JGB 10-year yield rose 0.5 basis points.-Bitcoin fell 1.4% to $88,188, according to LSEG. "Cryptocurrencies are lower amid news that a strategic bitcoin reserve and a stockpile of other digital assets established by President Trump's executive order yesterday evening will be capitalized by forfeited assets already owned by the federal government rather than any new government funding," Deutsche Bank analysts said in a note.Brent crude and WTI were last up 1.2% to $70.29 and $67.21 a barrel, respectively, after Treasury Secretary Scott Bessent said the U.S. will intensify pressure on Iran and won't hesitate to go "all in" on sanctions on Russia if it helps in peace negotiations. Still they are on track for a weekly loss.Write to Adam Whittaker at [email protected] Jones Newswires staff contributed to this article.