(Bloomberg) -- Europe stocks rose with U.S. futures on Monday as investors weighed fresh developments in the outlook for monetary policy and looked ahead to more corporate earnings. Oil gained amid tensions in the Persian Gulf.
The Stoxx Europe 600 Index edged higher, buoyed by energy and mining shares, while U.S. equity futures also rose. Asia was more downbeat, with stocks sliding in Shanghai and Hong Kong as traders watched escalating tensions there. China’s new stock venue for technology startups was a bright spot in the region as all 25 stocks rose on their debut. Treasuries edged higher and the dollar was steady after traders pared bets the Federal Reserve will slash rates by a half-point this month, following comments from St. Louis Fed President James Bullard on Friday.
Investors are gearing up for a busy week ahead as earnings season ramps up and Thursday sees a monetary policy announcement from the European Central Bank. The Fed is in a blackout period with regard to policy communications ahead of next week’s interest rate decision. Also, trade may come back into the picture soon, with face-to-face negotiations potentially resuming between the top Chinese and U.S. trade negotiators, according to Chinese state media.
Elsewhere, gold edged up while emerging-market stocks slid.
Here are some key events coming up:
Earnings season rolls on with companies including: Amazon.com, Alphabet, Unilever, Caterpillar, Coca-Cola, McDonald’s and Boeing.U.K. Prime Minister Theresa May’s successor is announced on Tuesday, with Boris Johnson expected to become the new Conservative leader and PM.Thursday brings the European Central Bank policy decision. Economists widely expect officials to signal their readiness to cut interest rates and potentially broaden stimulus. Some see the chance of an immediate rate cut. ECB President Mario Draghi holds a briefing afterward.
These are the main moves in markets:
Stocks
Futures on the S&P 500 Index increased 0.2% as of 9:33 a.m. London time.The Stoxx Europe 600 Index climbed 0.1%.The Shanghai Composite Index declined 1.3%, the lowest in more than five weeks on the largest drop in two weeks.The MSCI Emerging Market Index declined 0.4%.
Currencies
The Bloomberg Dollar Spot Index increased less than 0.05%.The euro declined less than 0.05% to $1.1218.The British pound sank 0.2% to $1.248.The onshore yuan climbed less than 0.05% to 6.881 per dollar.The Japanese yen fell 0.1% to 107.85 per dollar.
Bonds
The yield on 10-year Treasuries sank one basis point to 2.04%.The yield on two-year Treasuries climbed less than one basis point to 1.82%.Germany’s 10-year yield declined one basis point to -0.33%, the lowest in almost two weeks.Britain’s 10-year yield fell one basis point to 0.727%, the lowest in almost two weeks.Japan’s 10-year yield dipped less than one basis point to -0.136%, reaching the lowest in almost two weeks on its sixth straight decline.
Commodities
West Texas Intermediate crude advanced 2.1% to $56.79 a barrel, the largest gain in more than a week.Iron ore dipped 2.5% to $113.80 per metric ton, the lowest in more than a week on the biggest decrease in more than two weeks.Gold climbed 0.1% to $1,426.96 an ounce.
--With assistance from Adam Haigh.
To contact the reporter on this story: Laura Curtis in London at lcurtis7@bloomberg.net
To contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Yakob Peterseil
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https://finance.yahoo.com/news/asia-stocks-slip-u-drop-214435243.html
2019-07-22 08:42:00Z
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