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Asian Stocks Set for Mixed Start; U.S. Shares Rise: Markets Wrap
(Bloomberg) -- Asian stocks looked set for a mixed open Friday as investors weighed hopes for an agreement on a stimulus package from Washington against continued U.S.-China tensions. Shares closed higher on Wall Street and the dollar retreated.Futures were little changed in Japan, dipped in Australia and pointed higher in Hong Kong. Contracts opened flat on the S&P 500 after the index gained for a fifth day, with Apple Inc. leading the charge as it reached a record. U.S. stocks got a lift Thursday afternoon as lawmakers pledged to keep working toward a coronavirus relief package and President Donald Trump said he could act unilaterally on some measures. Gold extended gains amid speculation interest rates will stay low for longer, while Treasuries edged higher. Oil ticked up.Better-than-forecast earnings and optimism on a coronavirus vaccine has helped lift a gauge of global shares to little changed for the year, but concerns remain that negotiators won’t be able to resolve differences over a new U.S. relief package. The White House and congressional Democrats are up against a self-imposed Friday deadline to strike a deal as investors awaited more data on the state of the U.S. labor market.“Anything that we can do to continue to provide a bridge to people as we get through this crisis is going to be really important,” said Chuck Cumello, president and chief executive officer of Essex Financial Services. “The U.S. consumer is driving two-thirds of the economy.”Meanwhile, a high-powered U.S. panel recommended tightening the disclosure requirements for Chinese companies listed on American exchanges, amid heightened tensions between the two nations. On the virus front, data signaled that infections are picking up again in Europe, while modeling by the University of Washington saw the U.S. death toll almost doubling by December if the pandemic’s pace doesn’t change.Elsewhere, mining and energy producers were among the laggards as European stocks slumped. Turkey’s lira touched a record low against the dollar as interventions by state banks failed to reassure markets.Here are some key events coming up:Germany’s June industrial production figures are scheduled for Friday.July U.S. jobs reports expected Friday.These are some of the main moves in markets:StocksFutures on the S&P 500 Index dipped 0.1% as of 7:16 a.m. in Tokyo. The gauge rose 0.6% Thursday.Futures on Japan’s Nikkei 225 were little changed.Hang Seng futures earlier rose 0.2%.Futures on Australia’s S&P/ASX 200 Index declined 0.2%.CurrenciesThe Bloomberg Dollar Spot Index slipped 0.1%.The yen was at 105.53 per dollar.The offshore yuan traded at 6.9469 per dollar.BondsThe yield on 10-year Treasuries decreased one basis point to 0.54%.CommoditiesWest Texas Intermediate crude rose 0.2% to $42.02 a barrel.Gold was at $2,065.30 an ounce, up 0.1%.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-mixed-start-214827012.html?.tsrc=rss
(Bloomberg) -- Asian stocks looked set for a mixed open Friday as investors weighed hopes for an agreement on a stimulus package from Washington against continued U.S.-China tensions. Shares closed higher on Wall Street and the dollar retreated.Futures were little changed in Japan, dipped in Australia and pointed higher in Hong Kong. Contracts opened flat on the S&P 500 after the index gained for a fifth day, with Apple Inc. leading the charge as it reached a record. U.S. stocks got a lift Thursday afternoon as lawmakers pledged to keep working toward a coronavirus relief package and President Donald Trump said he could act unilaterally on some measures. Gold extended gains amid speculation interest rates will stay low for longer, while Treasuries edged higher. Oil ticked up.Better-than-forecast earnings and optimism on a coronavirus vaccine has helped lift a gauge of global shares to little changed for the year, but concerns remain that negotiators won’t be able to resolve differences over a new U.S. relief package. The White House and congressional Democrats are up against a self-imposed Friday deadline to strike a deal as investors awaited more data on the state of the U.S. labor market.“Anything that we can do to continue to provide a bridge to people as we get through this crisis is going to be really important,” said Chuck Cumello, president and chief executive officer of Essex Financial Services. “The U.S. consumer is driving two-thirds of the economy.”Meanwhile, a high-powered U.S. panel recommended tightening the disclosure requirements for Chinese companies listed on American exchanges, amid heightened tensions between the two nations. On the virus front, data signaled that infections are picking up again in Europe, while modeling by the University of Washington saw the U.S. death toll almost doubling by December if the pandemic’s pace doesn’t change.Elsewhere, mining and energy producers were among the laggards as European stocks slumped. Turkey’s lira touched a record low against the dollar as interventions by state banks failed to reassure markets.Here are some key events coming up:Germany’s June industrial production figures are scheduled for Friday.July U.S. jobs reports expected Friday.These are some of the main moves in markets:StocksFutures on the S&P 500 Index dipped 0.1% as of 7:16 a.m. in Tokyo. The gauge rose 0.6% Thursday.Futures on Japan’s Nikkei 225 were little changed.Hang Seng futures earlier rose 0.2%.Futures on Australia’s S&P/ASX 200 Index declined 0.2%.CurrenciesThe Bloomberg Dollar Spot Index slipped 0.1%.The yen was at 105.53 per dollar.The offshore yuan traded at 6.9469 per dollar.BondsThe yield on 10-year Treasuries decreased one basis point to 0.54%.CommoditiesWest Texas Intermediate crude rose 0.2% to $42.02 a barrel.Gold was at $2,065.30 an ounce, up 0.1%.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-mixed-start-214827012.html?.tsrc=rss
