(Bloomberg) -- U.S. equities gained for the first time in five days as investors digested fresh evidence of the widening coronavirus outbreak. The dollar advanced.
All three main American equity gauges were positive in the wake of more than 6% slide in the benchmark S&P 500 over the past two days. Ten-year Treasury yields still lingered near the record-low close set Tuesday. European shares pared losses at the start of U.S. trading, while Asian equities closed lower. Oil bounced around $50 a barrel.
“People taking a step back and reviewing the data and seeing how much this coronavirus is progressing,” said Michael Reynolds, investment strategy officer at Glenmede Trust Co. “Perhaps it’s not going to be as bad as feared.”
President Donald Trump and federal health officials plan to brief the U.S. public Wednesday on efforts to prevent the spread of the coronavirus. Diageo Plc and Danone SA warned earlier that the outbreak will hit sales in China. The first cases in Greece and in South America emerged, while Spain locked down a seaside resort hotel with about 1,000 guests and workers inside.
Risk assets are struggling to rebound as coronavirus cases steadily climb outside the epicenter in China. South Korea said its national total rose to more than 1,000, while American health officials Tuesday warned that they expect the epidemic to spread in the U.S.
Traders may be looking out for further signs of policy accommodation after American central bankers said they are closely monitoring the spreading virus, though it’s “still too soon” to say whether it will change the outlook.
“Investors are still digesting the ramifications, the extent of the coronavirus -- what’s this going to mean for economic growth both here and overseas?” Mike Loewengart, vice president of investment strategy at E*Trade Financial, said in an interview at Bloomberg’s New York headquarters.
Elsewhere, a gauge of high-yield credit risk for European issuers rose for a fifth day. Industrial metals and minerals mostly dropped, including copper and iron ore. Bitcoin slumped for a third day.
These are some key events coming up:
Earnings keep rolling in from companies including: Baidu Inc., Best Buy Co. Inc., Occidental Petroleum Corp. and Dell Technologies Inc. on Thursday; and London Stock Exchange Group Plc on Friday.The Bank of Korea announces its policy decision on Thursday, with rising risks of an interest-rate cut.U.S. jobless claims, GDP and durable goods data are out Thursday.Japan industrial production, jobs, and retail sales figures are due on Friday.
These are the main moves in markets:
To contact the reporters on this story: Claire Ballentine in New York at cballentine@bloomberg.net;Vildana Hajric in New York at vhajric1@bloomberg.net
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.
https://finance.yahoo.com/news/asia-braces-more-stock-declines-215253515.html
2020-02-26 15:08:00Z
CBMiTWh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9hc2lhLWJyYWNlcy1tb3JlLXN0b2NrLWRlY2xpbmVzLTIxNTI1MzUxNS5odG1s0gFVaHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3MvYXNpYS1icmFjZXMtbW9yZS1zdG9jay1kZWNsaW5lcy0yMTUyNTM1MTUuaHRtbA
Bagikan Berita Ini
0 Response to "Stocks Halt Slide After Days of Virus Jitters: Markets Wrap - Yahoo Finance"
Post a Comment