(Bloomberg) -- U.S. equity futures climbed along with stocks globally as investors digested China’s decision to tighten intellectual property rules, a move that may boost the chances of a trade deal between the world’s largest economies. Treasuries and the yen both declined.
Contracts on the three main U.S. stock gauges all pointed to a firm start on Wall Street after China said over the weekend it will raise penalties on intellectual property violations as it tries to smooth over a sticking point in talks. Charles Schwab Corp. and rival TD Ameritrade Holding Corp. will be among the stocks in focus after a multibillion-dollar merger was agreed, while Uber Technologies Inc. may also be in the spotlight following a failed bid to get a new license to operate in London.
The Stoxx Europe 600 Index advanced, with all 19 industry sectors in the green. Equities climbed across Asia, led by those in Hong Kong, where local elections brought a landslide victory to pro-democracy candidates. A gauge of the dollar was steady against its major peers, though the yen fell against the greenback and the pound gained.
Stocks are headed for a third month of gains globally, though doubts about the rally remain and bonds and other haven investments seem well-supported. While the S&P 500 Index rose on Friday after President Donald Trump said he was “very close” to a trade pact, the yield on 10-year U.S. notes has steadied around 1.78%, down from the three-month intraday high of 1.97% touched in early November.
“The markets are pretty much priced for a deal to go ahead, and that may be the case, but we may see that pushed out to 2020,” Eleanor Creagh, market strategist at Saxo Capital Markets, told Bloomberg TV in Sydney. “The key sticking point is really going to be the rolling back of tariffs.”
Elsewhere, China was planning a record sale of sovereign bonds in dollars, with a potential $6 billion offering, according to people familiar with the discussions. West Texas-grade oil futures drifted, after ending Friday barely changed on the week. Bitcoin fell as much as 11% and headed for its ninth weekday session of declines, the longest losing streak in a year.
Here are some key events coming up this week:
Federal Reserve Chairman Jerome Powell speaks on Monday at the Greater Providence Chamber of Commerce annual dinner in Providence, Rhode Island.Alibaba starts trading in Hong Kong on Tuesday.Reserve Bank of Australia Governor Philip Lowe will give a speech on unconventional monetary policy on Tuesday evening in Sydney.U.S. consumer spending data is due Wednesday, along with GDP, jobless claims and durable goods.The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.The Bank of Korea sets policy on Friday.
These are the main moves in markets:
Stocks
Futures on the S&P 500 Index climbed 0.2% as of 6:31 a.m. New York time.The Stoxx Europe 600 Index jumped 0.7%.Italy’s FTSE MIB Index climbed 0.6%.Hong Kong’s Hang Seng Index advanced 1.5%.
Currencies
The Bloomberg Dollar Spot Index was little changed.Sterling climbed 0.4% to 0.8552 per euro.The euro dipped 0.1% to $1.1014.The Japanese yen dipped 0.2% to 108.85 per dollar.Bitcoin sank 6.7% to $6,851.
Bonds
The yield on 10-year Treasuries gained two basis points to 1.79%.Germany’s 10-year yield climbed one basis point to -0.35%.Italy’s 10-year yield fell two basis points to 1.157%.Portugal’s 10-year yield dipped one basis point to 0.385%.
Commodities
West Texas Intermediate crude decreased 0.1% to $57.72 a barrel.Iron ore climbed 3.2% to $89.25 per metric ton.Gold dipped 0.3% to $1,457.64 an ounce.
--With assistance from Adam Haigh and Sybilla Gross.
To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.net
To contact the editor responsible for this story: Sam Potter at spotter33@bloomberg.net
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
https://finance.yahoo.com/news/stocks-asia-face-mixed-start-204816541.html
2019-11-25 11:39:00Z
52780447726523
Bagikan Berita Ini
0 Response to "Stocks Climb After China’s IP Move; Treasuries Dip: Markets Wrap - Yahoo Finance"
Post a Comment