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U.S., Europe Futures Advance; Dollar Holds Drop: Markets Wrap
(Bloomberg) -- U.S. futures rose with Asian stocks Thursday after positive vaccine developments and U.S. data tempered concern over a jump in coronavirus cases. Treasuries and the dollar held losses.Hong Kong shares outperformed after returning from a holiday, despite the recent tensions over China’s new national security law over the city. Stocks in Australia, China, Japan and South Korea also rose. U.S. futures ticked higher ahead of a jobs report Thursday before a U.S. holiday. Earlier, the S&P 500 rose for a third day and the Nasdaq Composite jumped to a record. European futures advanced. An early trial of an experimental shot from Pfizer Inc. and BioNtech SE showed it was safe, and prompted patients to produce antibodies.Meantime, U.S. House of Representatives passed by unanimous consent a bill imposing sanctions on banks that do business with Chinese officials involved in cracking down on pro-democracy protesters in Hong Kong. Relations between Washington and Beijing have soured badly in the months since the “phase one” trade deal was signed in January, while the coronavirus pandemic made many of its elements moot.Traders also monitored minutes of the Federal Reserve’s June meeting, which revealed that various participants viewed the economy needing support “for some time.” A closely watched measure of manufacturing jumped in June to the highest in more than a year. On the virus front, California and Arizona reported their biggest daily case increases and Houston’s intensive-care units exceeded full capacity.“There’s this inherent tension between health of the economy and health of the population,” said David Lebovitz, a global market strategist at JPMorgan Asset Management. “It’s going to be the way to think about what drives markets over the next couple of weeks or months.”Elsewhere, oil was steady as traders weighed ongoing concerns about the spread of coronavirus across the U.S. south against a strong drawdown in crude stockpiles.Here are some key events coming up:The monthly U.S. jobs report will be released on Thursday.These are some of the main moves in markets:StocksS&P 500 futures rose 0.4% as of 7:08 a.m. in London. The S&P 500 climbed 0.5%.Japan’s Topix Index rose 0.3%.Shanghai Composite gained 1.5%.Hong Kong’s Hang Seng added 1.5%.Australia’s S&P/ASX 200 Index gained 1.4%.Kospi index rose 0.9%.Euro Stoxx 50 futures advanced 0.8%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro rose 0.1% to $1.1265.The yen was at 107.45 per dollar, little changed.The offshore yuan was little changed at 7.0667 per dollar.BondsThe yield on 10-year Treasuries was at 0.67%.Australia’s 10-year yield dipped one basis point to 0.93%.CommoditiesWest Texas Intermediate crude was flat at $39.86 a barrel.Gold slipped 0.1% to $1,767.67 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-stock-futures-climb-nasdaq-212105359.html?.tsrc=rss
(Bloomberg) -- U.S. futures rose with Asian stocks Thursday after positive vaccine developments and U.S. data tempered concern over a jump in coronavirus cases. Treasuries and the dollar held losses.Hong Kong shares outperformed after returning from a holiday, despite the recent tensions over China’s new national security law over the city. Stocks in Australia, China, Japan and South Korea also rose. U.S. futures ticked higher ahead of a jobs report Thursday before a U.S. holiday. Earlier, the S&P 500 rose for a third day and the Nasdaq Composite jumped to a record. European futures advanced. An early trial of an experimental shot from Pfizer Inc. and BioNtech SE showed it was safe, and prompted patients to produce antibodies.Meantime, U.S. House of Representatives passed by unanimous consent a bill imposing sanctions on banks that do business with Chinese officials involved in cracking down on pro-democracy protesters in Hong Kong. Relations between Washington and Beijing have soured badly in the months since the “phase one” trade deal was signed in January, while the coronavirus pandemic made many of its elements moot.Traders also monitored minutes of the Federal Reserve’s June meeting, which revealed that various participants viewed the economy needing support “for some time.” A closely watched measure of manufacturing jumped in June to the highest in more than a year. On the virus front, California and Arizona reported their biggest daily case increases and Houston’s intensive-care units exceeded full capacity.“There’s this inherent tension between health of the economy and health of the population,” said David Lebovitz, a global market strategist at JPMorgan Asset Management. “It’s going to be the way to think about what drives markets over the next couple of weeks or months.”Elsewhere, oil was steady as traders weighed ongoing concerns about the spread of coronavirus across the U.S. south against a strong drawdown in crude stockpiles.Here are some key events coming up:The monthly U.S. jobs report will be released on Thursday.These are some of the main moves in markets:StocksS&P 500 futures rose 0.4% as of 7:08 a.m. in London. The S&P 500 climbed 0.5%.Japan’s Topix Index rose 0.3%.Shanghai Composite gained 1.5%.Hong Kong’s Hang Seng added 1.5%.Australia’s S&P/ASX 200 Index gained 1.4%.Kospi index rose 0.9%.Euro Stoxx 50 futures advanced 0.8%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro rose 0.1% to $1.1265.The yen was at 107.45 per dollar, little changed.The offshore yuan was little changed at 7.0667 per dollar.BondsThe yield on 10-year Treasuries was at 0.67%.Australia’s 10-year yield dipped one basis point to 0.93%.CommoditiesWest Texas Intermediate crude was flat at $39.86 a barrel.Gold slipped 0.1% to $1,767.67 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-stock-futures-climb-nasdaq-212105359.html?.tsrc=rss