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European Stocks Fluctuate While Oil Extends Gain: Markets Wrap
(Bloomberg) -- European stocks fluctuated, Asian shares rose and U.S. futures edged higher on Thursday as investors weighed corporate results and signs of progress in treating the coronavirus alongside miserable economic data. Oil futures continued to rebound after an early-week tumble.The Stoxx Europe 600 Index swung from a gain to a loss in early trading. Societe Generale SA slumped after posting a surprise first-quarter loss, while Royal Dutch Shell also fell after cutting its dividend for the first time since World War II. Contracts on the S&P 500 nudged up a day after the benchmark touched a seven-week high, helped in part by Gilead Sciences Inc. saying its experimental drug helped Covid-19 patients recover faster. Nasdaq futures advanced following strong results from Microsoft Corp., Facebook Inc. and Tesla Inc. after the Wednesday close.Japanese and Chinese equities rose over 1% as their Australian peers jumped more than 2%. Hong Kong and South Korea were shut for a holiday. Treasuries drifted higher with most European bonds. Oil advanced for a second day on signs fuel consumption is starting to recover in the world’s biggest economies.Investors are weighing a brutal economic picture against hopes for a coronavirus treatment and an eventual end to lockdown measures across the world. The U.S. government’s top infectious-disease expert, Anthony Fauci, said early results from the Gilead drug trial offered “quite good news,” while results from tech giants show some parts of the economy have remained resilient. That’s even as many firms slash dividends and data show European economies and the U.S. slumped into a recession last quarter.Investors still have plenty to chew over today, with a decision from the European Central Bank, the last U.S. unemployment figures and earnings from the likes of Kraft Heinz Co., Twitter Inc. and Gilead all due.Elsewhere, China’s currency climbed against the dollar after the central bank’s daily onshore fixing for the yuan was slightly stronger than expected, coming ahead of a long holiday weekend. Emerging-market stocks jumped.These are the main moves in markets:StocksFutures on the S&P 500 Index increased 0.1% as of 8:31 a.m. London time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index gained 1.2%.The MSCI Emerging Market Index rose 1.3%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro was little changed at $1.0874.The British pound dipped 0.2% to $1.2447.The onshore yuan strengthened 0.3% to 7.052 per dollar.The Japanese yen was little changed at 106.63 per dollar.BondsThe yield on 10-year Treasuries sank two basis points to 0.61%.The yield on two-year Treasuries sank one basis point to 0.19%.Germany’s 10-year yield declined one basis point to -0.50%.Britain’s 10-year yield dipped less than one basis point to 0.281%.Japan’s 10-year yield gained less than one basis point to -0.035%.CommoditiesWest Texas Intermediate crude gained 11.7% to $16.82 a barrel.Brent crude increased 7.2% to $24.16 a barrel.Gold strengthened 0.4% to $1,720.92 an ounce.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/asia-stocks-set-track-u-213210236.html?.tsrc=rss
(Bloomberg) -- European stocks fluctuated, Asian shares rose and U.S. futures edged higher on Thursday as investors weighed corporate results and signs of progress in treating the coronavirus alongside miserable economic data. Oil futures continued to rebound after an early-week tumble.The Stoxx Europe 600 Index swung from a gain to a loss in early trading. Societe Generale SA slumped after posting a surprise first-quarter loss, while Royal Dutch Shell also fell after cutting its dividend for the first time since World War II. Contracts on the S&P 500 nudged up a day after the benchmark touched a seven-week high, helped in part by Gilead Sciences Inc. saying its experimental drug helped Covid-19 patients recover faster. Nasdaq futures advanced following strong results from Microsoft Corp., Facebook Inc. and Tesla Inc. after the Wednesday close.Japanese and Chinese equities rose over 1% as their Australian peers jumped more than 2%. Hong Kong and South Korea were shut for a holiday. Treasuries drifted higher with most European bonds. Oil advanced for a second day on signs fuel consumption is starting to recover in the world’s biggest economies.Investors are weighing a brutal economic picture against hopes for a coronavirus treatment and an eventual end to lockdown measures across the world. The U.S. government’s top infectious-disease expert, Anthony Fauci, said early results from the Gilead drug trial offered “quite good news,” while results from tech giants show some parts of the economy have remained resilient. That’s even as many firms slash dividends and data show European economies and the U.S. slumped into a recession last quarter.Investors still have plenty to chew over today, with a decision from the European Central Bank, the last U.S. unemployment figures and earnings from the likes of Kraft Heinz Co., Twitter Inc. and Gilead all due.Elsewhere, China’s currency climbed against the dollar after the central bank’s daily onshore fixing for the yuan was slightly stronger than expected, coming ahead of a long holiday weekend. Emerging-market stocks jumped.These are the main moves in markets:StocksFutures on the S&P 500 Index increased 0.1% as of 8:31 a.m. London time.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index gained 1.2%.The MSCI Emerging Market Index rose 1.3%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro was little changed at $1.0874.The British pound dipped 0.2% to $1.2447.The onshore yuan strengthened 0.3% to 7.052 per dollar.The Japanese yen was little changed at 106.63 per dollar.BondsThe yield on 10-year Treasuries sank two basis points to 0.61%.The yield on two-year Treasuries sank one basis point to 0.19%.Germany’s 10-year yield declined one basis point to -0.50%.Britain’s 10-year yield dipped less than one basis point to 0.281%.Japan’s 10-year yield gained less than one basis point to -0.035%.CommoditiesWest Texas Intermediate crude gained 11.7% to $16.82 a barrel.Brent crude increased 7.2% to $24.16 a barrel.Gold strengthened 0.4% to $1,720.92 an ounce.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/asia-stocks-set-track-u-213210236.html?.tsrc=rss
