US stock futures rose on Friday after China unveiled fresh stimulus measures, but Wall Street equities were still headed towards their longest stretch of weekly losses since the dotcom bubble burst more than 20 years ago.
S&P 500 futures rallied 1 per cent in European trading, as China moved to support its ailing property market. However, the blue-chip barometer would have to rally more than 3 per cent on Friday to avoid adding a seventh week to its losing streak. The index has not fallen for such a sustained period since 2001, Refinitiv data show.
Worries about the global economy have intensified after the Federal Reserve, the Bank of England and other major central banks raised borrowing costs and signalled more increases to come.
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