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10-24-2019, 12:40 AM
Stocks Rise in Asia With Nasdaq Futures on Profits: Markets Wrap
(Bloomberg) -- Stocks in Asia were mostly higher as investors took solace from a raft of earnings that provided some optimism against a background of concern that global economic growth lacks momentum. Treasury yields and the dollar were flat.Shares edged up in Hong Kong, Tokyo and Sydney, though gains fizzled in Seoul and Shanghai. The S&P 500 Index earlier climbed to push above the 3,000 level, though weakness in chipmaker stocks dragged the Philadelphia Semiconductor Index down almost 2% on Texas Instruments Inc.’s disappointing forecast. Nasdaq futures rose as revenue at Microsoft Corp. beat forecasts. Oil dipped after surging on supply concerns.While not a uniformly positive picture, earnings season is dampening some fears that corporate outlooks are souring. About 80% of companies on the S&P 500 have topped expectations for profits, though Texas Instruments and Caterpillar both showed how uncertainty stemming from trade tensions and global economic weakness are making customers nervous. U.S. Vice President Mike Pence is due to deliver a speech on China on Thursday.“People were bracing for the worst” for this reporting season, Yana Barton, fund manager at Eaton Vance Management Inc., told Bloomberg TV. “So far we’re coming in a little bit better.”Elsewhere, oil gave back some of Wednesday’s advance when a U.S. government report showed a surprise drop in crude supplies. Turkey’s lira rallied after President Donald Trump said he’s lifting recently imposed sanctions as the country complied with a cease-fire agreement.Here are some key events coming up this week:Earnings season is in full swing with companies reporting including: Amazon.com, Daimler and Kia Motors.Thursday brings monetary policy decisions from the European Central Bank and Bank Indonesia.U.S. factory orders for business equipment will provide a look into the strength of capital investment in September. The figures will show to what extent the latest tranche of tariffs on China and others is impacting investing decisions.These are some of the main moves in markets:StocksJapan’s Topix index gained 0.4% as of 1:30 p.m. in Tokyo.Hong Kong’s Hang Seng Index added 0.5%.The Shanghai Composite Index slid 0.2%.South Korea’s Kospi index lost 0.1%.Australia’s S&P/ASX 200 Index rose 0.4%.Futures on the S&P 500 Index were flat. The underlying gauge increased 0.3% on Wednesday.Nasdaq futures gained 0.2%.CurrenciesThe yen was at 108.60 per dollar, up 0.1%.The offshore yuan was at 7.0635 per dollar.The Bloomberg Dollar Spot Index was little changed.The euro bought $1.1137.The British pound was at $1.2917.BondsThe yield on 10-year Treasuries remained at 1.76%.Australia’s 10-year yield dipped one basis point to 1.09%.CommoditiesWest Texas Intermediate crude fell 0.8% to $55.55 a barrel.Gold was at $1,492.48 an ounce, little changed.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, Andreea PapucFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stock-futures-climb-asia-earnings-212246965.html?.tsrc=rss
(Bloomberg) -- Stocks in Asia were mostly higher as investors took solace from a raft of earnings that provided some optimism against a background of concern that global economic growth lacks momentum. Treasury yields and the dollar were flat.Shares edged up in Hong Kong, Tokyo and Sydney, though gains fizzled in Seoul and Shanghai. The S&P 500 Index earlier climbed to push above the 3,000 level, though weakness in chipmaker stocks dragged the Philadelphia Semiconductor Index down almost 2% on Texas Instruments Inc.’s disappointing forecast. Nasdaq futures rose as revenue at Microsoft Corp. beat forecasts. Oil dipped after surging on supply concerns.While not a uniformly positive picture, earnings season is dampening some fears that corporate outlooks are souring. About 80% of companies on the S&P 500 have topped expectations for profits, though Texas Instruments and Caterpillar both showed how uncertainty stemming from trade tensions and global economic weakness are making customers nervous. U.S. Vice President Mike Pence is due to deliver a speech on China on Thursday.“People were bracing for the worst” for this reporting season, Yana Barton, fund manager at Eaton Vance Management Inc., told Bloomberg TV. “So far we’re coming in a little bit better.”Elsewhere, oil gave back some of Wednesday’s advance when a U.S. government report showed a surprise drop in crude supplies. Turkey’s lira rallied after President Donald Trump said he’s lifting recently imposed sanctions as the country complied with a cease-fire agreement.Here are some key events coming up this week:Earnings season is in full swing with companies reporting including: Amazon.com, Daimler and Kia Motors.Thursday brings monetary policy decisions from the European Central Bank and Bank Indonesia.U.S. factory orders for business equipment will provide a look into the strength of capital investment in September. The figures will show to what extent the latest tranche of tariffs on China and others is impacting investing decisions.These are some of the main moves in markets:StocksJapan’s Topix index gained 0.4% as of 1:30 p.m. in Tokyo.Hong Kong’s Hang Seng Index added 0.5%.The Shanghai Composite Index slid 0.2%.South Korea’s Kospi index lost 0.1%.Australia’s S&P/ASX 200 Index rose 0.4%.Futures on the S&P 500 Index were flat. The underlying gauge increased 0.3% on Wednesday.Nasdaq futures gained 0.2%.CurrenciesThe yen was at 108.60 per dollar, up 0.1%.The offshore yuan was at 7.0635 per dollar.The Bloomberg Dollar Spot Index was little changed.The euro bought $1.1137.The British pound was at $1.2917.BondsThe yield on 10-year Treasuries remained at 1.76%.Australia’s 10-year yield dipped one basis point to 1.09%.CommoditiesWest Texas Intermediate crude fell 0.8% to $55.55 a barrel.Gold was at $1,492.48 an ounce, little changed.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, Andreea PapucFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stock-futures-climb-asia-earnings-212246965.html?.tsrc=rss