NewsFeeder
Headline News
Stocks Mixed in Light Volume, Dollar Extends Drop: Markets Wrap
(Bloomberg) -- Global stocks and equity futures were mixed Wednesday as investors weighed their appetite for risk assets against a continuing acceleration in coronavirus cases across the American sun belt. The dollar remained under pressure.U.S. futures fluctuated, while European contracts retreated. Shares slipped in Tokyo but climbed in Seoul after Kim Jong Un suspended military actions against South Korea. Treasuries were little changed. New Zealand’s dollar reversed gains after the central bank said the balance of economic risks remained to the downside.On Tuesday, the S&P 500 closed well off its earlier 1.2% gain on reports that a surge in cases in several hotspots in the South and Southwest of the U.S. threatened to derail plans to ramp up reopenings. Still, the Nasdaq Composite hit another record high.Investors are betting that trillions of dollars in stimulus by central banks and governments around the globe will shield economies from a resurgence in virus breakouts. PMIs for June showed business activity in the world’s largest economy continuing a rebound that started in May.“Bad news isn’t so bad if we think that that means more stimulus,” said Nela Richardson, an investment strategist at Edward Jones. The markets are responding also to the quick action, quickest in any recession going back to the Great Depression, of the Federal government and monetary authorities, not just in the United States, but around the world.”On the virus front, Anthony Fauci, the U.S.’s top infectious-disease doctor, warned Tuesday that the coronavirus isn’t taking a summer break, judging from its persistent spread in the U.S. Sun Belt. A German state locked down a municipality where 1,553 workers tested positive at a single meat factory.Here are some key events coming up:The IMF will release new 2020 growth projections on Wednesday.U.S. jobless claims, durable goods and GDP data are due Thursday.A rebalance of Russell indexes is due on Friday.These are the main moves in markets:StocksFutures on the S&P 500 were flat as of 3:02 p.m. in Tokyo. The index rose 0.4% Tuesday.Japan’s Topix Index dipped 0.4%.Hang Seng Index fell 0.1%.Shanghai Composite rose 0.2%.Kospi index rose 1.5%.Euro Stoxx 50 futures lost 0.7%.CurrenciesThe yen was at 106.58 per dollar.The offshore yuan held at 7.0613 per dollar.The Bloomberg Dollar Spot Index fell 0.1%.The euro bought $1.1317, up 0.1%.BondsThe yield on 10-year Treasuries edged up to 0.72%.Australian 10-year yields ticked up two basis points to 0.92%.CommoditiesWest Texas Intermediate crude fell 0.5% to $40.19 a barrel.Gold was at $1,769.35 an ounce, little changed.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-open-mixed-u-213332779.html?.tsrc=rss
(Bloomberg) -- Global stocks and equity futures were mixed Wednesday as investors weighed their appetite for risk assets against a continuing acceleration in coronavirus cases across the American sun belt. The dollar remained under pressure.U.S. futures fluctuated, while European contracts retreated. Shares slipped in Tokyo but climbed in Seoul after Kim Jong Un suspended military actions against South Korea. Treasuries were little changed. New Zealand’s dollar reversed gains after the central bank said the balance of economic risks remained to the downside.On Tuesday, the S&P 500 closed well off its earlier 1.2% gain on reports that a surge in cases in several hotspots in the South and Southwest of the U.S. threatened to derail plans to ramp up reopenings. Still, the Nasdaq Composite hit another record high.Investors are betting that trillions of dollars in stimulus by central banks and governments around the globe will shield economies from a resurgence in virus breakouts. PMIs for June showed business activity in the world’s largest economy continuing a rebound that started in May.“Bad news isn’t so bad if we think that that means more stimulus,” said Nela Richardson, an investment strategist at Edward Jones. The markets are responding also to the quick action, quickest in any recession going back to the Great Depression, of the Federal government and monetary authorities, not just in the United States, but around the world.”On the virus front, Anthony Fauci, the U.S.’s top infectious-disease doctor, warned Tuesday that the coronavirus isn’t taking a summer break, judging from its persistent spread in the U.S. Sun Belt. A German state locked down a municipality where 1,553 workers tested positive at a single meat factory.Here are some key events coming up:The IMF will release new 2020 growth projections on Wednesday.U.S. jobless claims, durable goods and GDP data are due Thursday.A rebalance of Russell indexes is due on Friday.These are the main moves in markets:StocksFutures on the S&P 500 were flat as of 3:02 p.m. in Tokyo. The index rose 0.4% Tuesday.Japan’s Topix Index dipped 0.4%.Hang Seng Index fell 0.1%.Shanghai Composite rose 0.2%.Kospi index rose 1.5%.Euro Stoxx 50 futures lost 0.7%.CurrenciesThe yen was at 106.58 per dollar.The offshore yuan held at 7.0613 per dollar.The Bloomberg Dollar Spot Index fell 0.1%.The euro bought $1.1317, up 0.1%.BondsThe yield on 10-year Treasuries edged up to 0.72%.Australian 10-year yields ticked up two basis points to 0.92%.CommoditiesWest Texas Intermediate crude fell 0.5% to $40.19 a barrel.Gold was at $1,769.35 an ounce, little changed.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-open-mixed-u-213332779.html?.tsrc=rss
