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Stocks Set for Weekly Gain as Bonds Extend Retreat: Markets Wrap
(Bloomberg) -- U.S. equity futures rose with Asian stocks and European peers edged higher as shares globally headed for a third weekly gain thanks to easing trade fears and a new round of central bank stimulus. Treasury yields climbed and the dollar slipped.The Stoxx Europe 600 inched higher, with gains in banks and miners offsetting losses in utilities. U.S. equity futures pointed to a firm start on Wall Street, where all eyes will be on the S&P 500 after it closed near a record. Ten-year Treasury yields were near the highest in more than a month. The euro extended a rally and government bonds retreated in the wake of the European Central Bank moves to support growth. The pound headed for the biggest weekly gain since May after the Times reported possible progress in Brexit negotiations related to the contentious Irish backstop.In Asia, Japan’s Topix rose to its highest since May. Stocks in Hong Kong also climbed, while China and South Korea were closed for a holiday.Optimism over a trade deal is growing ahead of expected high-levels talks next month between the world’s two largest economies. The S&P 500 climbed within 0.5% of its all-time high on Thursday after a news broke about an interim trade agreement under consideration by the Trump administration. Soybean futures edged higher following Thursday’s rally, after the Xinhua News Agency said China is encouraging companies to buy certain U.S. farm products and it will exclude those goods from additional tariffs.Meanwhile, investors will look to August retail sales data for signs of continued expansion after consumer spending beat expectations in July. Last month’s import prices may shed some light on the impact of the White House’s tariffs, while the University of Michigan’s consumer sentiment survey is forecast to show a modest boost in confidence.Elsewhere, WTI crude was little changed around $55 a barrel after on a warning to OPEC from the International Energy Agency that it faces a “daunting” surplus of crude in 2020.Here are the main moves in markets:StocksFutures on the S&P 500 Index gained 0.3% as of 10:27 a.m. London time.Germany’s DAX Index increased 0.2%.The MSCI Asia Pacific Index rose 0.7%.The U.K.’s FTSE 100 Index was little changed.CurrenciesThe Bloomberg Dollar Spot Index fell 0.3%.The euro gained 0.3% to $1.1098.The British pound gained 0.9% to $1.2447.The Japanese yen increased 0.1% to 107.96 per dollar.BondsThe yield on 10-year Treasuries increased two basis points to 1.80%.Germany’s 10-year yield climbed two basis points to -0.50%.Britain’s 10-year yield gained three basis points to 0.699%.CommoditiesWest Texas Intermediate crude dipped 0.5% to $54.79 a barrel.Gold climbed 0.5% to $1,506.74 an ounce.\--With assistance from Adam Haigh.To contact the reporter on this story: Laura Curtis in London at lcurtis7@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-edge-higher-214501369.html?.tsrc=rss
(Bloomberg) -- U.S. equity futures rose with Asian stocks and European peers edged higher as shares globally headed for a third weekly gain thanks to easing trade fears and a new round of central bank stimulus. Treasury yields climbed and the dollar slipped.The Stoxx Europe 600 inched higher, with gains in banks and miners offsetting losses in utilities. U.S. equity futures pointed to a firm start on Wall Street, where all eyes will be on the S&P 500 after it closed near a record. Ten-year Treasury yields were near the highest in more than a month. The euro extended a rally and government bonds retreated in the wake of the European Central Bank moves to support growth. The pound headed for the biggest weekly gain since May after the Times reported possible progress in Brexit negotiations related to the contentious Irish backstop.In Asia, Japan’s Topix rose to its highest since May. Stocks in Hong Kong also climbed, while China and South Korea were closed for a holiday.Optimism over a trade deal is growing ahead of expected high-levels talks next month between the world’s two largest economies. The S&P 500 climbed within 0.5% of its all-time high on Thursday after a news broke about an interim trade agreement under consideration by the Trump administration. Soybean futures edged higher following Thursday’s rally, after the Xinhua News Agency said China is encouraging companies to buy certain U.S. farm products and it will exclude those goods from additional tariffs.Meanwhile, investors will look to August retail sales data for signs of continued expansion after consumer spending beat expectations in July. Last month’s import prices may shed some light on the impact of the White House’s tariffs, while the University of Michigan’s consumer sentiment survey is forecast to show a modest boost in confidence.Elsewhere, WTI crude was little changed around $55 a barrel after on a warning to OPEC from the International Energy Agency that it faces a “daunting” surplus of crude in 2020.Here are the main moves in markets:StocksFutures on the S&P 500 Index gained 0.3% as of 10:27 a.m. London time.Germany’s DAX Index increased 0.2%.The MSCI Asia Pacific Index rose 0.7%.The U.K.’s FTSE 100 Index was little changed.CurrenciesThe Bloomberg Dollar Spot Index fell 0.3%.The euro gained 0.3% to $1.1098.The British pound gained 0.9% to $1.2447.The Japanese yen increased 0.1% to 107.96 per dollar.BondsThe yield on 10-year Treasuries increased two basis points to 1.80%.Germany’s 10-year yield climbed two basis points to -0.50%.Britain’s 10-year yield gained three basis points to 0.699%.CommoditiesWest Texas Intermediate crude dipped 0.5% to $54.79 a barrel.Gold climbed 0.5% to $1,506.74 an ounce.\--With assistance from Adam Haigh.To contact the reporter on this story: Laura Curtis in London at lcurtis7@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Namitha JagadeeshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stock-futures-edge-higher-214501369.html?.tsrc=rss
