US equity futures steadied on July 24, halting a recent slide that had hit major technology stocks particularly hard. The stabilization came as Brent crude oil prices slipped below $100 a barrel for the first time in weeks, offering some relief to investors worried about inflation and global growth.
Tech Selloff Eases
The selloff in Big Tech shares, which had dragged down broader indexes earlier in the week, appeared to lose momentum. Futures contracts tied to the Nasdaq 100 and the S&P 500 edged higher in early trading, suggesting a calmer open for Wall Street. The move follows a period of heavy selling driven by concerns over rising interest rates and slowing corporate earnings.
Brent Crude Slips Below $100
Brent crude, the international benchmark, fell below $100 per barrel during Asian trading hours. The decline extends a recent pullback from multiyear highs, as traders weigh the impact of a potential global economic slowdown on energy demand. The drop in oil prices could help ease pressure on central banks, which have been raising rates aggressively to combat inflation.
The combination of steadier equities and cheaper crude offered a mixed picture for markets. While the tech selloff pause may signal a temporary reprieve, the broader trend remains uncertain. Investors are now watching for corporate earnings reports and economic data due later in the week that could set the tone for the next leg of trading.
