U.S. Futures Rise as Stocks Mixed; Dollar Edges Up: Markets Wrap - Yahoo Finance

U.S. Futures Rise as Stocks Mixed; Dollar Edges Up: Markets Wrap

(Bloomberg) -- U.S. equity-index futures rose on Monday while stocks drifted in Europe and declined in Asia as investors struggled to interpret the latest developments in the trade rivalry between the world’s two largest economies. Treasuries and European bonds slipped.

Contracts on the three main equity indexes all signaled a firm open in New York, and a dollar gauge inched higher after the U.S. issued a partial -- and qualified -- denial that it was discussing new limits on Chinese access to American finance. The Stoxx Europe 600 Index struggled for direction, while Japan’s stock market slid. Chinese equities fell in the final session before a week-long holiday.

Sovereign bonds in the U.S. and Europe edged lower after Germany’s labor market unexpectedly improved. West Texas oil fell further below $56 a barrel. Gold dipped for a second day, though it was still set for a fourth quarterly gain.

The month is finishing much as it began, with foreign-trade uncertainty once again muddying the outlook for investors. Citigroup said that restricting access to U.S. finance would amount America’s most extreme potential move against China, while a Treasury official said over the weekend that the U.S. has no plans “at this time” to stop Chinese companies from listing on American exchanges. Beijing on Monday vowed to keep opening up its financial markets and encouraging foreign investment, while releasing a positive report on manufacturing.

“The equity market has absorbed a lot in the last 12-18 months, however news like this isn’t great for confidence,” Jun Bei Liu, fund manager at Tribeca Investment Partners Ltd., told Bloomberg TV in Sydney. Even the discussion of restrictions on investment flows “is going to be quite a meaningful deterrent to any sort of reconciliation in terms of the trade outlook,” she said.

Elsewhere, the pound was range bound as Prime Minister Boris Johnson fought off allegations of sexual impropriety and plots in Parliament to oust him over his Brexit plans. Financial markets and offices in Taipei closed Monday due to the approach of Typhoon Mitag.

Here are some key events coming up this week:

Australia’s monetary policy decision is set for Tuesday, with markets and economists leaning toward a third interest-rate cut for 2019.Euro-zone CPI for September is scheduled for Tuesday.There’s a slew of U.S. data including ISM manufacturing on Tuesday, the ADP employment report on Wednesday and the monthly government jobs report on Friday.The Reserve Bank of India sets policy on Friday.

Here are the main moves in markets:

Stocks

Futures on the S&P 500 Index climbed 0.3% as of 7:26 a.m. New York time.The Stoxx Europe 600 Index advanced 0.1%.The U.K.’s FTSE 100 Index dipped 0.3%.The Shanghai Composite Index declined 0.9%.

Currencies

The Bloomberg Dollar Spot Index climbed 0.1%.The British pound increased 0.1% to $1.231.The euro declined 0.3% to $1.0907.The Japanese yen was little changed at 107.93 per dollar.

Bonds

The yield on 10-year Treasuries increased one basis point to 1.69%.Britain’s 10-year yield fell less than one basis point to 0.496%.Germany’s 10-year yield climbed one basis point to -0.57%.Australia’s 10-year yield advanced seven basis points to 1.0215%.

Commodities

West Texas Intermediate crude sank 1% to $55.34 a barrel.Gold decreased 0.7% to $1,487.26 an ounce.Wheat advanced 0.3% to $4.89 a bushel.LME nickel increased 0.8% to $17,345 per metric ton.

--With assistance from Adam Haigh.

To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net

To contact the editor responsible for this story: Samuel Potter at spotter33@bloomberg.net

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

©2019 Bloomberg L.P.

Let's block ads! (Why?)

https://finance.yahoo.com/news/stocks-set-cautious-start-trade-213134837.html

2019-09-30 09:29:00Z
CBMiTWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9zdG9ja3Mtc2V0LWNhdXRpb3VzLXN0YXJ0LXRyYWRlLTIxMzEzNDgzNy5odG1s0gFVaHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3Mvc3RvY2tzLXNldC1jYXV0aW91cy1zdGFydC10cmFkZS0yMTMxMzQ4MzcuaHRtbA

Bagikan Berita Ini