Five Things You Need to Know to Start Your Day: Asia

Good morning. US stocks rebound after down week. Harris campaign raises $81 million in its first 24 hours. US to expand military readiness and surveillance in the Arctic. — Isabelle Lee

US stocks rebounded after their worst week since April as investors looked beyond Joe Biden ending his reelection campaign to focus on the start of tech earnings season. With results from Tesla and Alphabet on deck for Tuesday, nearly two-thirds of the 463 respondents to Bloomberg’s Markets Live Pulse survey said they expect corporate profits to boost US equities. The S&P 500 rose the most since early June while the Nasdaq 100 climbed 1.5%. A gauge of the “Magnificent Seven” megacaps climbed about 2.5%, led by gains in Tesla and Nvidia. The Russell 2000 index of smaller firms added 1.7%. Treasury yields edged higher, setting the stage for this week’s readings on the economy as well as the Federal Reserve’s preferred inflation gauge. For much of July, bets on a rate cut in September drove shorter-term bonds higher — narrowing the gap with longer-dated maturities.