Stocks Rise Amid Trade-War Lull; Treasuries Drift: Markets Wrap
These are the main moves in markets:
Stocks
- Futures on the S&P 500 Index were little changed as of 7:12 a.m. New York time.
- The Stoxx Europe 600 Index gained 0.2%.
- The U.K.’s FTSE 100 Index climbed 0.4%.
- The MSCI Asia Pacific Index rose 0.4%.
- The MSCI Emerging Market Index rose 0.5%.
Currencies
- The Bloomberg Dollar Spot Index gained 0.2%.
- The euro fell 0.2% to $1.1011.
- The British pound decreased 0.2% to $1.2827.
- The Japanese yen dipped 0.1% to 109.21 per dollar.
Bonds
- The yield on 10-year Treasuries declined less than one basis point to 1.94%.
- Germany’s 10-year yield rose one basis point to -0.24%.
- Britain’s 10-year yield gained less than one basis point to 0.815%.
Commodities
- Gold dipped 0.2% to $1,453.05 an ounce.
- West Texas Intermediate crude gained 0.5% to $57.12 a barrel.
Here are some key events coming up this week:
- President Trump is due to deliver lunchtime remarks at the New York Economic Club.
- Earnings season is slowing. Reports are due this week from companies including Tencent, Japan Post Bank and Mitsubishi UFJ.
- A New Zealand rate decision is due Wednesday, with market pricing tilting in favor of a cut.
- Fed Chairman Jerome Powell addresses the Joint Economic Committee of Congress in Washington Wednesday. Minneapolis Fed President Neel Kashkari speaks in La Crosse, Wisconsin.
- Thursday brings China retail sales and industrial production data.
- U.S. retail sales on Friday are forecast to rebound in October after unexpectedly falling the prior month.
U.S. equity-index futures edged higher on Tuesday as European and Asian stocks rose amid a lull in trade-war headlines and simmering tension in Hong Kong. Treasuries fluctuated after a long weekend.
Contracts for the main American gauges were all slightly firmer a day after the S&P 500 Index fell for the first time in four sessions. The Stoxx Europe 600 Index headed for its first gain in three days as most major national benchmarks in the region advanced. Automakers climbed amid reports the U.S. may delay tariffs on European cars. Shares in Hong Kong climbed after sharp losses on Monday, while stocks saw modest gains in Tokyo and Shanghai, and outperformed in Seoul.
Treasuries drifted in a narrow range and European bonds were mixed. The pound pared some of its jump from a day earlier while a gauge of the dollar advanced.
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