U.S. Stock Futures Climb With Dollar; Bonds Drop: Markets Wrap

 

Here are some key events coming up:

• The Bank of England has a policy decision on Thursday.
• Friday brings the U.S. jobs report for April, expected to show a severe impact from the pandemic. The median forecast in a Bloomberg survey of economists calls for a 21 million plunge in payrolls.

These are some of the main moves in markets:

Stocks

• Futures on the S&P 500 rose 0.5% as of 8:24 a.m. in New York.
• The STOXX Europe 600 Index increased 0.1%.
• The MSCI Asia Pacific Index climbed 0.5%.
• The MSCI Emerging Markets Index rose 0.3%.

Currencies

• The Bloomberg Dollar Spot Index climbed 0.4%.
• The euro bought $1.0807, down 0.3%.
• The yen strengthened 0.4% to 106.18 per dollar.

Bonds

• The yield on 10-year Treasuries climbed two basis points to 0.68%.
• Germany’s 10-year yield rose three basis points to -0.55%.

Commodities

• West Texas Intermediate crude dropped 5.7% to $23.19 a barrel.
• Gold dipped 0.4% to $1,699.77 an ounce.

U.S. equity-index futures gained on Wednesday after President Donald Trump pushed again to reopen the economy, while stocks in Europe struggled for direction as investors weighed mixed corporate earnings against dismal economic data. The dollar gained and Treasury yields rose.

Contracts on all three major American equities gauges rose, with General Motors Co. surging in pre-market trading after reporting results that beat analysts’ expectations. Futures stayed higher even as a report showed U.S. companies cut a record 20.2 million jobs in April. The Stoxx Europe 600 Index pared a modest gain, with increases for health-care and insurance stocks offsetting losses for oil and travel companies.

Bonds declined in the euro region as investors fretted over Tuesday’s German court ruling criticizing the European Central Bank’s easing measures. The euro weakened amid a slew of bleak economic forecasts by the European Union, heading toward its lowest close since mid-March, back when markets were roiled by demand for the U.S. currency. West Texas oil retreated after a rally that had doubled prices in the past five days. An index of emerging-market stocks climbed.

Desplome de ingresos en Disney

Walt Disney ha cancelado su dividendo tras anunciar que la pandemia del Covid-19 h lastrado su beneficio neto en más de un 90% en su segundo trimestre fiscal que se extiende hasta marzo.

El gigante del entretenimiento se ha visto zarandeado no sólo por el cierre de sus parques temáticos, sino también por una fuerte caída de la recaudación en taquilla y de la publicidad en sus cadenas de televisión. La compañía cree que los resultados de este trimestre serán aún peores, pues los impactos de la pandemia no empezaban a hacerse evidentes hasta prácticamente el final del trimestre pasado.

Un punto positivo en un informe que por lo demás ha sido desastroso ha sido la expansión de Disney+. La compañía ha dicho que cuenta ya con 54,5 millones de suscriptores. Si bien eso es menos de un tercio de los que tiene Netflix (NASDAQ:NFLX), sigue situando a Disney en el segundo puesto de los servicios más populares.

— With assistance by Adam Haigh, Nancy Moran, and Brandon Kochkodin