Five days of red is enough to shake anyone’s conviction. But US stock futures climbed in early Friday trading, putting the Nasdaq 100 on track to snap a losing streak that had been grinding on tech investors all week.
Nasdaq 100 futures rose approximately 0.35% in overnight trading, a modest move that nonetheless carries outsized psychological weight after five consecutive sessions of declines.
What’s driving the bounce
Treasury yields held steady through the session, removing one of the market’s most reliable spoilers. When yields spike, growth stocks take the hit hardest, since their valuations depend heavily on discounting future earnings at low rates. A calm bond market is, in this environment, almost good news by default.
Bitcoin added its own signal to the mix, trading between $73,000 and $76,000 during the August 20-21 window. For traders watching cross-asset momentum, that range matters: Bitcoin tends to move with risk appetite, and its resilience during an equity drawdown suggests institutional money hasn’t gone fully defensive.
