Stocks Mixed as Trade Talks Mulled; Yields Dip: Markets Wrap

(Bloomberg) -- U.S. and European stock futures were little changed after a mostly positive session in Asia as investors monitor prospects for removing a scheduled American tariff hike on China later this month.Treasuries advanced, clawing back some of their losses from Wednesday, when a report indicated the U.S. and China were closer to a deal that would avoid the next tariffs round. Japanese shares closed up, though off the highs of the session. Korean stocks fell, while Hong Kong and Shanghai rose. The dollar was little changed. Indian bonds and equities slid after the central bank unexpectedly left interest rates unchanged. “If we do just muddle along and there aren’t the tariff increases on December 15 we’ll probably see something of a stable stock-market environment,” Kristina Hooper, chief global market strategist at Invesco Ltd., told Bloomberg TV. Any negative trade news “could be the spoiler for what otherwise would be a fairly solid month for stocks.”Iron and steel stocks led gains in Japan after the government announced a 26 trillion yen ($239 billion) stimulus package to support growth.Elsewhere, oil edged lower but largely preserved a rally after Energy Information Administration data showed U.S. crude inventories fell more than expected. The pound was near a seven-month high against the dollar as traders stepped up bets for a Conservative victory in next week’s election.Here are some key events coming up this week:Germany releases factory-order data for October on Thursday.Saudi Aramco’s initial public offering is scheduled to be priced on Thursday, with Riyadh looking to raise more than $25 billion.Friday brings the U.S. jobs report, where estimates are for non-farm payrolls to rise by 190,000 in November.These are the main moves in markets:StocksFutures on the S&P 500 were little changed. The underlying gauge climbed 0.6% on Wednesday.Euro Stoxx 50 futures rose 0.1%.Japan’s Topix index rose 0.5%.Hong Kong’s Hang Seng Index added 0.5%.The Shanghai Composite Index advanced 0.8%.CurrenciesThe yen was little changed at 108.83 per dollar.The offshore yuan held at 7.0535 per dollar following its advance the prior session.The pound was at $1.3111.The euro was little changed at $1.1081.BondsThe yield on 10-year Treasuries dipped one basis point to 1.76%.Australia’s 10-year yield added three basis points to 1.09%.CommoditiesWest Texas Intermediate crude dipped 0.5% to $58.13 a barrel.Gold ticked up 0.2% to $1,476.81 an ounce.\--With assistance from Charlotte Ryan, Rita Nazareth, Vildana Hajric, Michael G. Wilson, Chikako Mogi and Joanna Ossinger.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.

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