NewsFeeder
Headline News
Stocks Turn Mixed After Rally; Yen Pushes Higher: Markets Wrap
(Bloomberg) -- Global stocks traded mixed Tuesday as investors weighed whether the recent rally may be excessive given still-poor economic conditions. Treasuries rose with the yen.S&P 500 futures dipped after the benchmark closed at a 15-week high, bringing its rally from the March low to almost 45%. European contracts gained.Australian shares jumped after a holiday, while stocks in Hong Kong pushed higher. Japanese stocks slipped with their Korean counterparts, with traders monitoring news that North Korea will shut contact with the South. The dollar headed for a ninth day of declines, the longest slide in more than a decade, while oil edged up.Global equities have climbed back to their levels in February, when the coronavirus began spreading rapidly outside of China. But worries remain that economic growth may struggle to keep pace -- the World Bank warned the global economy will contract the most since World War II this year.“There are a lot of unknowns that we are dealing with despite the fact that normalizations of economic activities are still on track; there are still a lot of unknown factors that we have to factor in,” Frank Tsui, a senior fund manager at Value Partners, said on Bloomberg TV.On the policy front, the Federal Reserve expanded its Main Street Lending Program, allowing more companies to participate and lessening the burden on banks that create the loans. The move came ahead of the Fed’s policy meeting Wednesday.To Citigroup Inc. strategists including Tobias Levkovich, positioning in U.S. equities may now be overly extended. For his part, Stan Druckenmiller -- who last month warned about owning stocks -- said on Monday that he now believes he was “far too cautious” during the current market rally.S&P Erases Loss and Ed Yardeni Doubts It Was Ever a Bear Market.What to watch this week:The Fed’s next policy decision is Wednesday. Officials are expected to leave rates above zer
ECD releases its economic outlook Wednesday, a twice-yearly analysis of the economic prospects of member countriesEuro-area finance ministers meet Thursday to discuss the EU’s recovery package and Eurogroup presidency succession.These are some of the main moves in markets:StocksS&P 500 futures fell 0.2% as of 12:06 p.m. in Tokyo. The S&P 500 climbed 1.2%.Topix index fell 0.4%.Australia’s S&P/ASX 200 Index rose 2.3%.South Korea’s Kospi index was little changed.Hong Kong’s Hang Seng Index rose 1.2%.Shanghai Composite Index rose 0.4%.Euro Stoxx 50 futures rose 0.2%.CurrenciesThe yen was at 108.12 per dollar, appreciating 0.3%.Bloomberg Dollar Spot Index was little changed.The offshore yuan was at 7.0724 per dollar, down 0.2%.The euro traded at $1.1289.BondsThe yield on 10-year Treasuries fell two basis points to 0.85%.The yield on 10-year Australian bonds lost three basis point to 1.06%.CommoditiesWest Texas Intermediate crude gained 0.7% to $38.42 a barrel after sliding 3.5%.Gold fell 0.2% to $1,695.80 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-modest-gains-214319711.html?.tsrc=rss
(Bloomberg) -- Global stocks traded mixed Tuesday as investors weighed whether the recent rally may be excessive given still-poor economic conditions. Treasuries rose with the yen.S&P 500 futures dipped after the benchmark closed at a 15-week high, bringing its rally from the March low to almost 45%. European contracts gained.Australian shares jumped after a holiday, while stocks in Hong Kong pushed higher. Japanese stocks slipped with their Korean counterparts, with traders monitoring news that North Korea will shut contact with the South. The dollar headed for a ninth day of declines, the longest slide in more than a decade, while oil edged up.Global equities have climbed back to their levels in February, when the coronavirus began spreading rapidly outside of China. But worries remain that economic growth may struggle to keep pace -- the World Bank warned the global economy will contract the most since World War II this year.“There are a lot of unknowns that we are dealing with despite the fact that normalizations of economic activities are still on track; there are still a lot of unknown factors that we have to factor in,” Frank Tsui, a senior fund manager at Value Partners, said on Bloomberg TV.On the policy front, the Federal Reserve expanded its Main Street Lending Program, allowing more companies to participate and lessening the burden on banks that create the loans. The move came ahead of the Fed’s policy meeting Wednesday.To Citigroup Inc. strategists including Tobias Levkovich, positioning in U.S. equities may now be overly extended. For his part, Stan Druckenmiller -- who last month warned about owning stocks -- said on Monday that he now believes he was “far too cautious” during the current market rally.S&P Erases Loss and Ed Yardeni Doubts It Was Ever a Bear Market.What to watch this week:The Fed’s next policy decision is Wednesday. Officials are expected to leave rates above zer
ECD releases its economic outlook Wednesday, a twice-yearly analysis of the economic prospects of member countriesEuro-area finance ministers meet Thursday to discuss the EU’s recovery package and Eurogroup presidency succession.These are some of the main moves in markets:StocksS&P 500 futures fell 0.2% as of 12:06 p.m. in Tokyo. The S&P 500 climbed 1.2%.Topix index fell 0.4%.Australia’s S&P/ASX 200 Index rose 2.3%.South Korea’s Kospi index was little changed.Hong Kong’s Hang Seng Index rose 1.2%.Shanghai Composite Index rose 0.4%.Euro Stoxx 50 futures rose 0.2%.CurrenciesThe yen was at 108.12 per dollar, appreciating 0.3%.Bloomberg Dollar Spot Index was little changed.The offshore yuan was at 7.0724 per dollar, down 0.2%.The euro traded at $1.1289.BondsThe yield on 10-year Treasuries fell two basis points to 0.85%.The yield on 10-year Australian bonds lost three basis point to 1.06%.CommoditiesWest Texas Intermediate crude gained 0.7% to $38.42 a barrel after sliding 3.5%.Gold fell 0.2% to $1,695.80 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-modest-gains-214319711.html?.tsrc=rss
