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U.S. Futures Mark Time Before Jobs; Europe Rises: Markets Wrap
(Bloomberg) -- U.S. stock futures were little changed as investors awaited the key monthly American employment report and subsequent comments due from Federal Reserve Chairman Jerome Powell. Treasuries retained most of the week’s advance.European equity futures saw modest gains after an overnight climb on Wall Street amid rising expectations for another Federal Reserve interest rate cut this month in the wake of a run of poor data. Japanese and Australian shares closed higher. Hong Kong stocks fell ahead of a briefing by the city’s chief executive amid continuing protests. Crude oil traded below $53 a barrel in New York. The dollar was little changed.Thursday, the S&P 500 Index rose the most in a month after climbing back from a drop of more than 1% sparked by the weakest reading on the U.S. services sector in three years. Market pricing for a Fed interest-rate cut at the next meeting climbed.Powell speaks hours after the Friday morning indicators on the unemployment rate, payroll gains and wages -- giving him the opportunity of either validating market expectations for a Fed cut this month, or walking them back.Meantime, India for its part did pull the trigger on another rate cut on Friday, the fifth in the cycle so far. The rupee showed little immediate reaction, while Indian stocks retained a modest advance. Meantime, China remains shut amid a week-long holiday.Here are some remaining events this week:Friday brings September’s nonfarm payrolls data. Consensus is for 145,000 jobs, but the whisper number is 122,000.Federal Reserve Chairman Jerome Powell is set to speak Friday, hours after the employment figures.Here are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 7:23 a.m. in London.Euro Stoxx 50 contracts rose 0.3%.Japan’s Topix index rose 0.3%.Hong Kong’s Hang Seng was down 1.5%.CurrenciesThe yen was at 106.80 per dollar.The offshore yuan traded at 7.1254 per dollar.The Bloomberg Dollar Spot Index was flat.The euro bought $1.0975.BondsThe yield on 10-year Treasuries edged up about one basis point to 1.54%, down about 14 basis points for the week so far.Australia’s 10-year yield dropped about three basis points to 0.89%.CommoditiesWest Texas Intermediate crude rose 0.3% to $52.63 a barrel.Gold was at $1,507.96 an ounce, up 0.2%.\--With assistance from Gregor Stuart Hunter.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@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.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-edge-higher-treasuries-213846514.html?.tsrc=rss
(Bloomberg) -- U.S. stock futures were little changed as investors awaited the key monthly American employment report and subsequent comments due from Federal Reserve Chairman Jerome Powell. Treasuries retained most of the week’s advance.European equity futures saw modest gains after an overnight climb on Wall Street amid rising expectations for another Federal Reserve interest rate cut this month in the wake of a run of poor data. Japanese and Australian shares closed higher. Hong Kong stocks fell ahead of a briefing by the city’s chief executive amid continuing protests. Crude oil traded below $53 a barrel in New York. The dollar was little changed.Thursday, the S&P 500 Index rose the most in a month after climbing back from a drop of more than 1% sparked by the weakest reading on the U.S. services sector in three years. Market pricing for a Fed interest-rate cut at the next meeting climbed.Powell speaks hours after the Friday morning indicators on the unemployment rate, payroll gains and wages -- giving him the opportunity of either validating market expectations for a Fed cut this month, or walking them back.Meantime, India for its part did pull the trigger on another rate cut on Friday, the fifth in the cycle so far. The rupee showed little immediate reaction, while Indian stocks retained a modest advance. Meantime, China remains shut amid a week-long holiday.Here are some remaining events this week:Friday brings September’s nonfarm payrolls data. Consensus is for 145,000 jobs, but the whisper number is 122,000.Federal Reserve Chairman Jerome Powell is set to speak Friday, hours after the employment figures.Here are the main moves in markets:StocksFutures on the S&P 500 Index were little changed as of 7:23 a.m. in London.Euro Stoxx 50 contracts rose 0.3%.Japan’s Topix index rose 0.3%.Hong Kong’s Hang Seng was down 1.5%.CurrenciesThe yen was at 106.80 per dollar.The offshore yuan traded at 7.1254 per dollar.The Bloomberg Dollar Spot Index was flat.The euro bought $1.0975.BondsThe yield on 10-year Treasuries edged up about one basis point to 1.54%, down about 14 basis points for the week so far.Australia’s 10-year yield dropped about three basis points to 0.89%.CommoditiesWest Texas Intermediate crude rose 0.3% to $52.63 a barrel.Gold was at $1,507.96 an ounce, up 0.2%.\--With assistance from Gregor Stuart Hunter.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@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.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-edge-higher-treasuries-213846514.html?.tsrc=rss
