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11-07-2019, 01:32 AM
Stock Futures Flat, Yen Edges Up Amid Trade Delay: Markets Wrap
(Bloomberg) -- U.S. and European stock futures were largely flat early Thursday after a mixed session in Asia. The yen edged up following reports that the signing of a partial U.S.-China trade deal may be delayed until next month. Equities in Japan closed with marginal gains, while shares in Hong Kong slipped. China and Korea were little changed. Australian stocks climbed as earnings buoyed sentiment. The S&P 500 Index closed little changed Wednesday. The latest news suggested the signing of a preliminary trade agreement may not happen this month as the two sides wrangle over a location. Oil was around $56 a barrel in New York.Mounting hopes of a U.S.-China trade deal has buoyed confidence in markets this month just as key economic indicators showed signs of stabilization. While the latest data from Europe suggest a robust recovery may not be on the cards, a relative improvement eased fears that the global economy was hurtling toward a recession.“We’re still waiting to see what sticks” on any deal, Patrick Chovanec, chief strategist at Silvercrest Asset Management, told Bloomberg TV. “Investors should be patient and not leap to any conclusions based on today’s or yesterday’s headlines.”Elsewhere, oil steadied after slumping in wake of a report that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts at meetings next month.Here are some key events coming up this week:Earnings are due this week from companies including: Walt Disney.A Bank of England monetary decision is due Thursday.The USDA World Agricultural Supply and Demand Estimates Report for November comes out Friday.These are the main moves in markets:StocksFutures on the S&P 500 were little changed. The gauge added 0.1% on Wednesday.Euro Stoxx 50 futures rose 0.2%.Japan’s Topix index rose 0.2% at the 3 p.m. close in Tokyo.The Shanghai Composite Index was flat.Hong Kong’s Hang Seng Index dipped 0.3%.South Korea’s Kospi index was little changed.Australia’s S&P/ASX 200 Index rose 1%.CurrenciesThe yen climbed 0.2% to 108.74 per dollar.The offshore yuan was steady at 7.0122 per dollar.The Bloomberg Dollar Spot Index was little changed.The euro bought $1.1062.BondsThe yield on 10-year Treasuries decreased about two basis points to 1.81%.Australia’s 10-year yield fell six basis points to 1.21%.CommoditiesWest Texas Intermediate crude was stable at $56.42 a barrel.Gold was little changed at $1,491.67 an ounce.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea Papuc, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-trade-231801217.html?.tsrc=rss
(Bloomberg) -- U.S. and European stock futures were largely flat early Thursday after a mixed session in Asia. The yen edged up following reports that the signing of a partial U.S.-China trade deal may be delayed until next month. Equities in Japan closed with marginal gains, while shares in Hong Kong slipped. China and Korea were little changed. Australian stocks climbed as earnings buoyed sentiment. The S&P 500 Index closed little changed Wednesday. The latest news suggested the signing of a preliminary trade agreement may not happen this month as the two sides wrangle over a location. Oil was around $56 a barrel in New York.Mounting hopes of a U.S.-China trade deal has buoyed confidence in markets this month just as key economic indicators showed signs of stabilization. While the latest data from Europe suggest a robust recovery may not be on the cards, a relative improvement eased fears that the global economy was hurtling toward a recession.“We’re still waiting to see what sticks” on any deal, Patrick Chovanec, chief strategist at Silvercrest Asset Management, told Bloomberg TV. “Investors should be patient and not leap to any conclusions based on today’s or yesterday’s headlines.”Elsewhere, oil steadied after slumping in wake of a report that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts at meetings next month.Here are some key events coming up this week:Earnings are due this week from companies including: Walt Disney.A Bank of England monetary decision is due Thursday.The USDA World Agricultural Supply and Demand Estimates Report for November comes out Friday.These are the main moves in markets:StocksFutures on the S&P 500 were little changed. The gauge added 0.1% on Wednesday.Euro Stoxx 50 futures rose 0.2%.Japan’s Topix index rose 0.2% at the 3 p.m. close in Tokyo.The Shanghai Composite Index was flat.Hong Kong’s Hang Seng Index dipped 0.3%.South Korea’s Kospi index was little changed.Australia’s S&P/ASX 200 Index rose 1%.CurrenciesThe yen climbed 0.2% to 108.74 per dollar.The offshore yuan was steady at 7.0122 per dollar.The Bloomberg Dollar Spot Index was little changed.The euro bought $1.1062.BondsThe yield on 10-year Treasuries decreased about two basis points to 1.81%.Australia’s 10-year yield fell six basis points to 1.21%.CommoditiesWest Texas Intermediate crude was stable at $56.42 a barrel.Gold was little changed at $1,491.67 an ounce.To contact the reporters on this story: Andreea Papuc in Sydney at apapuc1@bloomberg.net;Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea Papuc, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/asia-stocks-look-mixed-trade-231801217.html?.tsrc=rss