U.S. Futures Climb With Treasuries; Oil Advances: Markets Wrap - Yahoo Finance

U.S. Futures Climb With Treasuries; Oil Advances: Markets Wrap

(Bloomberg) -- U.S. equity futures rose on Monday following a mixed session in Europe and Asia as investors looked ahead to a busy week of corporate earnings. Oil gained amid tensions in the Persian Gulf.

Contracts on the three main U.S. benchmarks all pointed to green at the open, while the Stoxx Europe 600 Index edged higher with energy and mining shares leading gains. Stocks slipped throughout Asia, led by declines in Shanghai and Hong Kong as traders watched escalating tensions there. China’s new stock venue for technology startups was a bright spot as all 25 stocks rose on their debut. Treasuries advanced 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.

Core European government bonds gained, while the pound slumped after a forecast showed Brexit may have already pushed the U.K. into a technical recession, and as Conservative Party members vote on new leadership.

Investors will be eyeing earnings this week for signs of economic slowdown and any indication that trade strife is affecting companies’ bottom lines. On the trade front, Chinese state media reported face-to-face negotiations with the U.S. may resume soon, as Beijing considers a plan to boost American soybean purchases to sweeten a deal, people familiar with the matter said. The Fed, meanwhile, is in a blackout period with regard to policy communications ahead of next week’s interest rate decision.

Elsewhere, gold was steady 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 0.3% as of 8:32 a.m. New York time.The Stoxx Europe 600 Index advanced 0.3%.Germany’s DAX Index increased 0.6%, the largest climb in almost three weeks.The U.K.’s FTSE 100 Index gained 0.4%.The MSCI Emerging Market Index decreased 0.3%.The MSCI Asia Pacific Index sank 0.5%.

Currencies

The Bloomberg Dollar Spot Index climbed 0.1%.The euro fell less than 0.05% to $1.1217.The British pound declined 0.2% to $1.2473.The Japanese yen dipped 0.2% to 107.93 per dollar.

Bonds

The yield on 10-year Treasuries declined two basis points to 2.03%.Britain’s 10-year yield fell two basis points to 0.719%, the lowest in two weeks.Germany’s 10-year yield decreased two basis points to -0.34%, the lowest in almost two weeks.

Commodities

West Texas Intermediate crude advanced 1.2% to $56.28 a barrel, the biggest gain in more than a week.Gold advanced 0.1% to $1,427.09 an ounce.Iron ore declined 4.3% to $109.00 per metric ton, the lowest in more than two weeks on the biggest drop in more than two weeks.

--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

For more articles like this, please visit us at bloomberg.com

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2019-07-22 12:36:00Z
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