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Asian Stocks Decline; Treasuries Hold Advance: Markets Wrap
(Bloomberg) -- Asian stocks opened modestly lower Wednesday after a retreat in U.S. equities on concern the recent risk-asset rally had run too far. Treasuries kept an overnight advance.Japanese shares slipped along with equities in Australia and South Korea. S&P 500 futures edged higher after the index on Tuesday halted a surge that drove it into the black for 2020, with a drop of 0.8%. The Nasdaq 100 briefly topped 10,000 as Apple Inc. jumped on a news report it’s preparing to announce a shift to its own main processors in Mac computers. Treasuries were steady ahead of the U.S. monetary-policy decision later Wednesday.After a record-breaking rally that added $21 trillion to global stock markets, technical indicators suggest a pullback is overdue. Sentiment toward U.S. equities swung to extreme confidence from equally extreme fear in less than three months.“It would be no great surprise to see a period of market consolidation now as investors await decisive news on the coronavirus front to determine the direction of the next big market moves,” said Paul O’Connor, head of multi-asset at Janus Henderson Investors.Investors will turn their focus to the Federal Reserve Wednesday, where the central bank will probably use its meeting to shed light on various lending plans without easing further. Officials will also publish their employment and growth targets for the first time since the outbreak.Elsewhere, oil edged lower ahead of inventory data on Wednesday. Gold was little changed after Tuesday’s surge.What to watch this week:The Fed’s next policy decision is Wednesday. Officials are expected to leave rates above zer
ECD releases its economic outlook Wednesday, a twice-yearly analysis of the economic prospects of member countriesEuro-area finance ministers meet Thursday to discuss the EU’s recovery package and Eurogroup presidency succession.These are some of the main moves in markets:StocksFutures on the S&P 500 rose 0.3% as of 9:02 a.m. in Tokyo. The index dipped 0.8% Tuesday.Japan’s Topix index declined 0.6%.South Korea’s Kospi index fell 0.3%.Australia’s S&P/ASX 200 Index retreated 0.3%.CurrenciesThe yen was at 107.79 per dollar.The offshore yuan held at 7.0791 per dollar.The euro bought $1.1332, down 0.1%.BondsThe yield on 10-year Treasuries remained at about 0.82%.Australia’s 10-year yield slipped three basis points to 1.02%.CommoditiesWest Texas Intermediate crude dropped 1.5% to $38.36 a barrel.Gold was at $1,712.84 an ounce, down 0.2%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asian-stocks-set-decline-treasuries-222642830.html?.tsrc=rss
(Bloomberg) -- Asian stocks opened modestly lower Wednesday after a retreat in U.S. equities on concern the recent risk-asset rally had run too far. Treasuries kept an overnight advance.Japanese shares slipped along with equities in Australia and South Korea. S&P 500 futures edged higher after the index on Tuesday halted a surge that drove it into the black for 2020, with a drop of 0.8%. The Nasdaq 100 briefly topped 10,000 as Apple Inc. jumped on a news report it’s preparing to announce a shift to its own main processors in Mac computers. Treasuries were steady ahead of the U.S. monetary-policy decision later Wednesday.After a record-breaking rally that added $21 trillion to global stock markets, technical indicators suggest a pullback is overdue. Sentiment toward U.S. equities swung to extreme confidence from equally extreme fear in less than three months.“It would be no great surprise to see a period of market consolidation now as investors await decisive news on the coronavirus front to determine the direction of the next big market moves,” said Paul O’Connor, head of multi-asset at Janus Henderson Investors.Investors will turn their focus to the Federal Reserve Wednesday, where the central bank will probably use its meeting to shed light on various lending plans without easing further. Officials will also publish their employment and growth targets for the first time since the outbreak.Elsewhere, oil edged lower ahead of inventory data on Wednesday. Gold was little changed after Tuesday’s surge.What to watch this week:The Fed’s next policy decision is Wednesday. Officials are expected to leave rates above zer
ECD releases its economic outlook Wednesday, a twice-yearly analysis of the economic prospects of member countriesEuro-area finance ministers meet Thursday to discuss the EU’s recovery package and Eurogroup presidency succession.These are some of the main moves in markets:StocksFutures on the S&P 500 rose 0.3% as of 9:02 a.m. in Tokyo. The index dipped 0.8% Tuesday.Japan’s Topix index declined 0.6%.South Korea’s Kospi index fell 0.3%.Australia’s S&P/ASX 200 Index retreated 0.3%.CurrenciesThe yen was at 107.79 per dollar.The offshore yuan held at 7.0791 per dollar.The euro bought $1.1332, down 0.1%.BondsThe yield on 10-year Treasuries remained at about 0.82%.Australia’s 10-year yield slipped three basis points to 1.02%.CommoditiesWest Texas Intermediate crude dropped 1.5% to $38.36 a barrel.Gold was at $1,712.84 an ounce, down 0.2%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.https://finance.yahoo.com/news/asian-stocks-set-decline-treasuries-222642830.html?.tsrc=rss
