FYI: • Asian stocks rally, Japan up 1.2% and Indian stocks up 0.5%
• S&P 500 futures up 0.5%, Stoxx Europe 600 up 0.2%
• Brent crude climbs 0.8%
Stocks in Europe were lifted by a positive sales report from clothing giant Hennes & Mauritz and news that German chemical giant Bayer would look to settle major legal problems.
Indian stocks were up 0.5% Thursday, in line with rises for markets in China, Hong Kong and Japan. The Indian rupee was marginally higher against the dollar.
Asian stocks continued to perform well amid the continuing trade dispute mainly between the U.S. and China. Hopes were building that some kind of settlement with China at least might be reached this weekend, but that wouldn’t necessarily mean economic activity would immediately get a boost: Singapore’s central bank issued a warning on growth for the second half on Thursday, with manufacturing and trade looking particularly weak.
Exports from the Southeast Asian city-state have dropped more than 9% since the start of the year, and analysts at Maybank, a local investment bank, warned that even if a trade were struck soon, its effects might only materialize in the final quarter of this year. Singapore’s Straits Times index was up 0.8% Thursday.
European indexes opened higher, with the Stoxx Europe 600 up 0.2%, while government bond yields rose slightly as investors regained some risk appetite and moved money away from havens. German 10-year bund yields were at minus 0.280%, up from minus 0.300% Wednesday. U.S. 10-year Treasury yields edged up to 2.060% from 2.048% Wednesday.
Gold also fell, down 0.6% to $1,407.30 an ounce.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/european-stocks-follow-asian-indexes-higher-11561623906Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-26/asia-stocks-to-open-mixed-treasuries-decline-markets-wrapIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-amd-stock-intel-move-stock-market-rally-boeing-737-max/CNBC:
https://www.cnbc.com/2019/06/27/stock-market-wall-street-in-focus-amid-hopes-of-us-china-trade-truce.htmlReuters:
https://www.reuters.com/article/us-usa-election-debate-corporations/corporations-take-it-on-the-chin-in-first-democratic-debate-idUSKCN1TS0G0U.K.
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-rises-on-brighter-sino-u-s-trade-picture-idUKKCN1TS0T5Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-set-to-snap-four-day-losing-streak-on-u-s-china-trade-optimism-idUSKCN1TS0SMAsia:
https://www.marketwatch.com/story/asian-markets-rise-on-renewed-hopes-of-trade-truce-emerging-from-g-20-meeting-2019-06-26/printBonds:
https://www.cnbc.com/2019/06/27/us-bondspotential-us-china-trade-truce-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/06/27/forex-market-us-china-trade-talks-g20-summit-in-focus.htmlOil:
https://www.cnbc.com/2019/06/27/oil-market-g20-meeting-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/06/27/gold-market-us-china-trade-talks-fed-rate-cut-bets-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx
