NewsFeeder
Headline News
- Reaction score
- 3
Stocks Mixed Before Fed; Treasuries Keep Advance: Markets Wrap
(Bloomberg) -- Asian stocks struggled for a clear direction on Wednesday as investors awaited the conclusion of the Federal Reserve’s policy meeting. Treasuries held overnight gains and the dollar steadied.Shares slipped in Japan, where Fitch Ratings lowered its outlook on the country’s debt and earnings at Canon Inc. disappointed. Stocks saw modest gains in Hong Kong and South Korea, and outperformed in China on low volumes. S&P 500 futures fluctuated after the benchmark closed lower, with worse-than-estimated results from the likes of McDonald’s Corp. and 3M Co. weighing on shares. Gold slipped toward $1,950 an ounce.Some of the world’s largest companies are reporting earnings this week, and investors are looking for clues on whether a resurgence of Covid-19 around the world will derail a recovery in the economy. A drop in U.S. consumer confidence added to evidence that the pace of the rebound is cooling as the virus interrupts reopenings in several states.Meanwhile, the Fed extended most of its emergency lending programs by three months, through the remainder of 2020. The U.S. central bank is set to announce its rate decision Wednesday, and the market anticipates a dovish statement.“There’s enough stimulus and support in the market from a monetary policy perspective, but also from fiscal, and that keeps a nice floor under the market,” said Amanda Agati, chief investment strategist for PNC Financial Services Group. “But we also think it’s going to be very difficult to make a lot of forward progress in this environment.”Elsewhere, oil steadied after an overnight decline as investors shifted their focus to domestic supply, with expectations for another build in already swelling U.S. stockpiles.Here are some key events coming up:The Federal Open Market Committee’s announcement is due on Wednesday.Earnings include Rio Tinto and Barclays on Wednesday; Thursday brings Apple, Amazon.com, Alphabet, L’Oreal, Credit Suisse and Samsung; Chevron and Caterpillar are set for Friday.U.S. second-quarter GDP is expected on Thursday.China PMI data comes Friday.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 12:50 p.m. in Tokyo. The index decreased 0.7%.Japan’s Topix index declined 1.1%.Hong Kong’s Hang Seng rose 0.1%.Shanghai Composite climbed 1.1%.South Korea’s Kospi index rose 0.2%.Australia’s S&P/ASX 200 Index fell 0.2%.Euro Stoxx 50 futures fell 0.5%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.1%.The euro bought $1.1731, up 0.1%.The yen was little changed at 105.03 per dollar.The offshore yuan traded at 7.0035 per dollar, little changed.BondsThe yield on 10-year Treasuries remained at 0.58%.Australia’s 10-year yield slipped five basis points to 0.87%.CommoditiesWest Texas Intermediate crude slipped 0.1% to $41.01 a barrel.Gold retreated 0.4% to $1,952 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/asian-stocks-set-drop-treasuries-213232494.html?.tsrc=rss
(Bloomberg) -- Asian stocks struggled for a clear direction on Wednesday as investors awaited the conclusion of the Federal Reserve’s policy meeting. Treasuries held overnight gains and the dollar steadied.Shares slipped in Japan, where Fitch Ratings lowered its outlook on the country’s debt and earnings at Canon Inc. disappointed. Stocks saw modest gains in Hong Kong and South Korea, and outperformed in China on low volumes. S&P 500 futures fluctuated after the benchmark closed lower, with worse-than-estimated results from the likes of McDonald’s Corp. and 3M Co. weighing on shares. Gold slipped toward $1,950 an ounce.Some of the world’s largest companies are reporting earnings this week, and investors are looking for clues on whether a resurgence of Covid-19 around the world will derail a recovery in the economy. A drop in U.S. consumer confidence added to evidence that the pace of the rebound is cooling as the virus interrupts reopenings in several states.Meanwhile, the Fed extended most of its emergency lending programs by three months, through the remainder of 2020. The U.S. central bank is set to announce its rate decision Wednesday, and the market anticipates a dovish statement.“There’s enough stimulus and support in the market from a monetary policy perspective, but also from fiscal, and that keeps a nice floor under the market,” said Amanda Agati, chief investment strategist for PNC Financial Services Group. “But we also think it’s going to be very difficult to make a lot of forward progress in this environment.”Elsewhere, oil steadied after an overnight decline as investors shifted their focus to domestic supply, with expectations for another build in already swelling U.S. stockpiles.Here are some key events coming up:The Federal Open Market Committee’s announcement is due on Wednesday.Earnings include Rio Tinto and Barclays on Wednesday; Thursday brings Apple, Amazon.com, Alphabet, L’Oreal, Credit Suisse and Samsung; Chevron and Caterpillar are set for Friday.U.S. second-quarter GDP is expected on Thursday.China PMI data comes Friday.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 12:50 p.m. in Tokyo. The index decreased 0.7%.Japan’s Topix index declined 1.1%.Hong Kong’s Hang Seng rose 0.1%.Shanghai Composite climbed 1.1%.South Korea’s Kospi index rose 0.2%.Australia’s S&P/ASX 200 Index fell 0.2%.Euro Stoxx 50 futures fell 0.5%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.1%.The euro bought $1.1731, up 0.1%.The yen was little changed at 105.03 per dollar.The offshore yuan traded at 7.0035 per dollar, little changed.BondsThe yield on 10-year Treasuries remained at 0.58%.Australia’s 10-year yield slipped five basis points to 0.87%.CommoditiesWest Texas Intermediate crude slipped 0.1% to $41.01 a barrel.Gold retreated 0.4% to $1,952 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/asian-stocks-set-drop-treasuries-213232494.html?.tsrc=rss
