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U.S., Europe Futures Edge Up, Bonds Add to Losses: Markets Wrap
(Bloomberg) -- U.S. and European equity futures edged up and bond yields added to gains amid tentative optimism that the rise in coronavirus cases is decelerating, at least in China. Asia saw a mixed session Wednesday, with modest gains for most equity benchmarks. Shanghai and Hong Kong outperformed after China’s Hubei province reported the lowest number of new virus cases this month. New Zealand’s dollar jumped the most in two months after its central bank said the impact from the virus will be short-term and didn’t project a need for rate cuts this year. Oil climbed back above $50 a barrel in New York.Sentiment has improved recently as confidence among some investors grows that the coronavirus outbreak will prove a short-term dynamic; hedge fund chief Ray Dalio said as much Tuesday. Federal Reserve Chairman Jerome Powell for his part said the central bank is keeping a close eye on fallout from the epidemic, which continues to disrupt travel and trade.“Equities are kind of priced for perfection -- mainly because of the liquidity from the financial system,” said Janet Mui, a global economist at Cazenove Capital, on Bloomberg TV. “Overall consensus is that it is going to be contained, but if not then I think equities could be vulnerable,” she said of the risks from the virus.Here are some key events coming up:Earnings season continues with reports including MGM Resorts International on Wednesday; Thursday will bring Alibaba, Nissan, Credit Suisse, Airbus, Nestle and AIG.Thursday sees a gauge of underlying U.S. inflation, the core consumer price index. It is forecast to increase to 0.2% in January, a faster pace than in December.China and the U.S. on Friday lower tariffs on billions of dollars of respective imports as part of the trade deal signed last month.These are the main moves in markets:StocksFutures on the S&P 500 added 0.3% as of 7:03 a.m. in London. The underlying gauge rose 0.2% on Tuesday.Euro Stoxx 50 futures rose 0.2%.MSCI Asia Pacific Index rose 0.5%.CurrenciesThe yen was steady at 109.87 per dollar.The offshore yuan was flat at 6.9667 per dollar.The euro bought $1.0905, little changed.New Zealand’s dollar rose 0.8% to 64.59 U.S. cents.BondsThe yield on 10-year Treasuries added a basis point to 1.61%.Australia’s 10-year yield added more than four basis points to 1.06%.CommoditiesWest Texas Intermediate crude rose 1.3% to $50.57 a barrel.Gold dipped 0.2% to $1,565.52 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Ravil ShirodkarFor 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-stock-futures-tip-modest-231103963.html?.tsrc=rss
(Bloomberg) -- U.S. and European equity futures edged up and bond yields added to gains amid tentative optimism that the rise in coronavirus cases is decelerating, at least in China. Asia saw a mixed session Wednesday, with modest gains for most equity benchmarks. Shanghai and Hong Kong outperformed after China’s Hubei province reported the lowest number of new virus cases this month. New Zealand’s dollar jumped the most in two months after its central bank said the impact from the virus will be short-term and didn’t project a need for rate cuts this year. Oil climbed back above $50 a barrel in New York.Sentiment has improved recently as confidence among some investors grows that the coronavirus outbreak will prove a short-term dynamic; hedge fund chief Ray Dalio said as much Tuesday. Federal Reserve Chairman Jerome Powell for his part said the central bank is keeping a close eye on fallout from the epidemic, which continues to disrupt travel and trade.“Equities are kind of priced for perfection -- mainly because of the liquidity from the financial system,” said Janet Mui, a global economist at Cazenove Capital, on Bloomberg TV. “Overall consensus is that it is going to be contained, but if not then I think equities could be vulnerable,” she said of the risks from the virus.Here are some key events coming up:Earnings season continues with reports including MGM Resorts International on Wednesday; Thursday will bring Alibaba, Nissan, Credit Suisse, Airbus, Nestle and AIG.Thursday sees a gauge of underlying U.S. inflation, the core consumer price index. It is forecast to increase to 0.2% in January, a faster pace than in December.China and the U.S. on Friday lower tariffs on billions of dollars of respective imports as part of the trade deal signed last month.These are the main moves in markets:StocksFutures on the S&P 500 added 0.3% as of 7:03 a.m. in London. The underlying gauge rose 0.2% on Tuesday.Euro Stoxx 50 futures rose 0.2%.MSCI Asia Pacific Index rose 0.5%.CurrenciesThe yen was steady at 109.87 per dollar.The offshore yuan was flat at 6.9667 per dollar.The euro bought $1.0905, little changed.New Zealand’s dollar rose 0.8% to 64.59 U.S. cents.BondsThe yield on 10-year Treasuries added a basis point to 1.61%.Australia’s 10-year yield added more than four basis points to 1.06%.CommoditiesWest Texas Intermediate crude rose 1.3% to $50.57 a barrel.Gold dipped 0.2% to $1,565.52 an ounce.To contact the reporter on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Ravil ShirodkarFor 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-stock-futures-tip-modest-231103963.html?.tsrc=rss
