(Bloomberg) -- Asian stocks rose Wednesday and U.S. equity futures edged up as investors assessed the economic recovery and risks from the resurgent coronavirus. The dollar trimmed an advance.
MSCI Inc.’s gauge of Asia-Pacific shares was on course to snap a four-day losing streak, with Japan, China and Hong Kong posting gains. U.S. equity contracts reversed a decline and turned higher. Overnight, the S&P 500 posted the largest retreat in a month, while the Nasdaq 100 also fell.
Treasuries were little changed ahead of the release of the latest Federal Reserve minutes. The outlook for yields is highly uncertain amid the spread of the delta virus variant, the prospect of reduced stimulus support and elevated inflation.
New Zealand’s dollar was whipsawed by its central bank, which left interest rates unchanged but signaled an intention to tighten policy soon. The decision was complicated by a snap national virus lockdown -- all of which highlighted the influence of the delta strain on markets.
The virus and worries that economic growth is peaking are among the risks for global stocks after a 90% climb from last year’s pandemic lows. Meanwhile, the Jackson Hole symposium next week -- the Fed’s most prominent annual conference -- may offer clues on when and how the central bank will taper bond purchases.
“So much growth is priced in and it’s really a question of being able to deliver on that earnings-per-share and whether these multiples are warranted,” Nancy Davis, Quadratic Capital Management founder and chief investment officer, said on Bloomberg Television.
Adding to some recent soft data, U.S. retail sales fell in July by more than forecast, reflecting a steady shift in spending toward services and indicating consumers may be growing more price conscious as inflation picks up.
In a town hall meeting Tuesday, Fed Chair Jerome Powell flagged that the pandemic is “still casting a shadow on economic activity” but didn’t discuss the outlook for monetary policy or make specific comment on growth and the risks from the delta variant.
Crude oil trimmed recent losses. Bitcoin was trading around $45,000.
Here are some events to watch this week:
FOMC minutes released WednesdayBank Indonesia rate decision and Governor Perry Warjiyo briefing Thursday
For more market analysis read our MLIV blog.
Some of the main moves in markets:
Stocks
S&P 500 futures rose 0.1% as of 7:13 a.m. in London. The S&P 500 fell 0.7%Nasdaq 100 futures rose 0.2%. The Nasdaq 100 fell 0.9%Japan’s Topix index added 0.4%Australia’s S&P/ASX 200 Index was steadySouth Korea’s Kospi index increased 0.7%Hong Kong’s Hang Seng Index rose 0.7%China’s Shanghai Composite Index pushed up 0.7%Euro Stoxx 50 futures rose 0.2%
Currencies
The Japanese yen traded at 109.62 per dollarThe offshore yuan was at 6.4849 per dollarThe Bloomberg Dollar Spot Index slipped 0.1%The euro was at $1.1715
Bonds
The yield on 10-year Treasuries rose one basis point to 1.27%Australia’s 10-year bond yield was at 1.14%
Commodities
West Texas Intermediate crude was at $66.77 a barrel, rising 0.3%Gold was at $1,791.70 an ounce, up 0.3%
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2021 Bloomberg L.P.
"asian" - Google News
August 18, 2021 at 11:07AM
https://ift.tt/3g7krcj
Asian Stocks Climb as Traders Mull Recovery, Virus: Markets Wrap - Yahoo Finance
"asian" - Google News
https://ift.tt/2STmru2
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment