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Asian Stock Futures Mixed Before U.S. Jobs Report: Markets Wrap
(Bloomberg) -- Stocks in Asia are set for a mixed start as investors monitor an easing of geopolitical tension and await the latest reading on the U.S. labor market. U.S. equities earlier rose to all-time highs.Australian shares edged higher and futures nudged up in Japan, while Hong Kong contracts dipped. The S&P 500 Index climbed to a fresh record Thursday and the yen dropped to a two-week low versus the dollar as tension in the Middle East ebbed. The greenback gained against major currencies for a third straight day after jobless claims fell by more than expected, adding to signs of economic strength ahead of the U.S. payrolls report Friday. Ten-year Treasury yields declined following a government auction.Signs that America and Iran have stepped back from the brink of war helped revitalize risk appetite during the second half of this week. Adding to sentiment, the partial trade deal between the U.S. and China looks locked in as China’s vice premier will visit Washington next week for a signing ceremony. Investors also received reassurance from Federal Reserve vice chairman Richard Clarida that the U.S. economy remains in a good place and the central bank isn’t about to switch course.“Even though we are hitting close to or near all-time highs, we still feel pretty excited about this market,” Timothy Horsburgh, a strategist at Invesco, told Bloomberg TV. “What we’ve seen over the past couple of days with some of this relief rally, this is indicative of a market that’s wanted to go higher for a while now as a result of better fundamentals and little bit of optimism around reaccelerating growth here in the U.S.”Elsewhere, oil traded close to the lowest level since mid-December amid the receding concerns about U.S.-Iran conflict. Gold edged up.These are moves in major markets:StocksFutures on the S&P 500 Index were flat as of 8:15 a.m. in Tokyo. The underlying gauge gained 0.7% on Thursday.Futures on Japan’s Nikkei 225 rose 0.3%.Hang Seng futures earlier dipped 0.1%.Australia’s S&P/ASX 200 Index gained 0.5%.CurrenciesThe yen was at 109.49 per dollar.The offshore yuan held at 6.9248 per dollar.The Bloomberg Dollar Spot Index gained 0.1%.The euro was little changed at $1.1108.BondsThe yield on 10-year Treasuries fell two basis points to 1.85%.Australia’s 10-year yield dipped one basis point to 1.23%.CommoditiesWest Texas Intermediate crude was steady at $59.60 a barrel.Gold added 0.1% to $1,553.59 an ounce.\--With assistance from Cormac Mullen and Michael G. Wilson.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stock-futures-mixed-u-215117567.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia are set for a mixed start as investors monitor an easing of geopolitical tension and await the latest reading on the U.S. labor market. U.S. equities earlier rose to all-time highs.Australian shares edged higher and futures nudged up in Japan, while Hong Kong contracts dipped. The S&P 500 Index climbed to a fresh record Thursday and the yen dropped to a two-week low versus the dollar as tension in the Middle East ebbed. The greenback gained against major currencies for a third straight day after jobless claims fell by more than expected, adding to signs of economic strength ahead of the U.S. payrolls report Friday. Ten-year Treasury yields declined following a government auction.Signs that America and Iran have stepped back from the brink of war helped revitalize risk appetite during the second half of this week. Adding to sentiment, the partial trade deal between the U.S. and China looks locked in as China’s vice premier will visit Washington next week for a signing ceremony. Investors also received reassurance from Federal Reserve vice chairman Richard Clarida that the U.S. economy remains in a good place and the central bank isn’t about to switch course.“Even though we are hitting close to or near all-time highs, we still feel pretty excited about this market,” Timothy Horsburgh, a strategist at Invesco, told Bloomberg TV. “What we’ve seen over the past couple of days with some of this relief rally, this is indicative of a market that’s wanted to go higher for a while now as a result of better fundamentals and little bit of optimism around reaccelerating growth here in the U.S.”Elsewhere, oil traded close to the lowest level since mid-December amid the receding concerns about U.S.-Iran conflict. Gold edged up.These are moves in major markets:StocksFutures on the S&P 500 Index were flat as of 8:15 a.m. in Tokyo. The underlying gauge gained 0.7% on Thursday.Futures on Japan’s Nikkei 225 rose 0.3%.Hang Seng futures earlier dipped 0.1%.Australia’s S&P/ASX 200 Index gained 0.5%.CurrenciesThe yen was at 109.49 per dollar.The offshore yuan held at 6.9248 per dollar.The Bloomberg Dollar Spot Index gained 0.1%.The euro was little changed at $1.1108.BondsThe yield on 10-year Treasuries fell two basis points to 1.85%.Australia’s 10-year yield dipped one basis point to 1.23%.CommoditiesWest Texas Intermediate crude was steady at $59.60 a barrel.Gold added 0.1% to $1,553.59 an ounce.\--With assistance from Cormac Mullen and Michael G. Wilson.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stock-futures-mixed-u-215117567.html?.tsrc=rss
