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The Breakfast Briefing: European Stocks Waver Ahead Of The Fed: U.S. Futures Flat

TedTed
edited June 2019 in The Bullpen
FYI: .European stocks edged lower, U.S. futures were flat
.Yield on 10-year Treasurys rose up to 2.065%
.Asian indexes rallied, led by gains in Hong Kong

European stocks edged lower Wednesday after a positive session in Asia where markets welcomed upbeat comments on trade from President Trump and the prospect of fresh central-bank stimulus for the eurozone.

Europe’s equity benchmark, the Stoxx Europe 600, dropped 0.1% in early trade, with regional indexes switching between minor gains and losses.

Meanwhile, Chinese equities led regional gains in Asia. By early afternoon, Hong Kong’s benchmark Hang Seng Index rose 2.4% to a one-month high, while the Shanghai Composite was up 2.2%. Other major indexes in Japan, Singapore, South Korea and Taiwan gained more than 1%.

On Tuesday, Mr. Trump and Chinese President Xi Jinpingagreed to meet at next week’s Group of 20 summit in Japan, sparking hopes for a trade truce and driving up U.S. indexes near their record highs.

“The upcoming meeting in Japan is unlikely to deliver a major breakthrough for the U.S.-China trade relationship, but having the two sides talk is better than no talk,” said Steven Leung, executive director of institutional sales at UOB Kay Hian.

Still, today’s focus remained squarely on the U.S. Federal Reserve, which is set to publish a statement today outlining its position on future rate cuts.

In commodities, global oil benchmark Brent crude rose 0.5% to $62.44 a barrel, while gold slipped 0.2% to $1,348 a troy ounce.

The WSJ dollar index, which measures the currency against a basket of its peers, was flat.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/stocks-look-set-to-drift-up-near-records-as-investors-await-crucial-fed-decision-2019-06-19/print

WSJ:
https://www.wsj.com/articles/european-stocks-waver-ahead-of-the-fed-11560930470

Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-18/asia-stocks-to-gain-on-trade-stimulus-optimism-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fed-meeting-china-trade-news-apple-stock-market-rally-adobe-earnings/

CNBC:
https://www.cnbc.com/2019/06/19/dow-futures-modestly-higher-as-investors-await-fed-meeting.html

Reuters:
https://www.reuters.com/article/us-usa-fed-kudlow/fed-likely-to-leave-rates-steady-despite-market-outlook-and-trump-demands-idUSKCN1TJ24A

U.K.
https://uk.reuters.com/article/uk-britain-stocks/housebuilders-support-ftse-100-after-berkeley-earnings-idUKKCN1TK0NL

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-back-to-earth-after-draghi-bombshell-idUSKCN1TK0ML

Asia:
https://www.marketwatch.com/story/asian-markets-surge-on-renewed-hopes-of-trade-deal-2019-06-18/print

Bonds:
https://www.cnbc.com/2019/06/19/us-treasury-yields-tick-higher-as-investors-await-federal-reserve-meeting.html

Currencies:
https://www.cnbc.com/2019/06/19/forex-market-fed-policy-decision-dovish-ecb-in-focus.html

Oil:
https://www.cnbc.com/2019/06/19/oil-market-middle-east-tensions-us-china-trade-in-focus.html

Gold:
https://www.cnbc.com/2019/06/19/gold-market-fed-policy-decision-us-china-trade-talks-in-focus.html

Cuirrent Futures:
https://finviz.com/futures.ashx


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