The Breakfast Briefing: U.S. Futures Point To Mixed Open On Wall Street

Ted

FYI: U.S. stocks were set to edge higher Wednesday morning.

At around 6:00 a.m. ET, Dow futures rose 29 points, indicating a positive open of just 7 points. Futures on the S&P and Nasdaq were mixed.

U.S. stocks ended Tuesday little changed amid a fall in tech shares. Ahead of Wednesday’s session, the focus is on trade relations between China and the U.S. Beijing released a tariff exemptions list for products from the U.S. on Wednesday morning.

Asian, European stocks climb

• Treasury yields rise

• Oil bounces higher

Global stocks gained Wednesday after China exempted certain U.S. products from higher tariffs ahead of trade talks planned for next month.

The Stoxx Europe 600 rose 0.7% in morning trade, with Germany’s DAX up 1% and France’s CAC 40 up 0.4%.

Shares in the London Stock Exchange Group LSE 5.50% PLC rose 16% after Hong Kong Exchanges & Clearing Ltd. 388 0.33% offered to buy it in a $36.56 billion cash and share deal.

Hong Kong’s Hang Seng led gains, climbing 1.8%, while Japan’s Nikkei rose 1%. The Shanghai Composite was the exception, with a fall of 0.4%.

Korea’s Kospi climbed 0.8% after positive jobs data from the country helped to bolster confidence in its economy, suggesting that government stimulus efforts were proving fruitful.

In Europe, Industria de Diseno Textil SA, the world’s largest fashion retailer by sales, saw its share price fall 1.6% after it reported earnings for the first half of the year.

The yield on the benchmark 10-year German bund rose to minus 0.541%. Meanwhile, U.S. 10-year Treasury yields rose to 1.722% on Wednesday, from 1.706% on Tuesday.

In commodities, oil prices rebounded from losses that came after President Trump ousted John Bolton as his national security adviser. Brent crude, the global benchmark, was up by 1.2% at $63.12 a barrel.

Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-rise-with-eyes-on-trade-11568190214

Bloomberg:
https://www.bloomberg.com/news/articles/2019-09-10/asia-stocks-seen-higher-treasuries-extend-drop-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-apple-tv-stock-market-rally-ally-roku-zscaler-rh/

CNBC::
https://www.cnbc.com/2019/09/11/dow-futures-moves-ppi-wholesale-data-due.html

Reuters:
https://uk.reuters.com/article/uk-usa-investors-credit/u-s-corporate-bond-ipo-markets-heat-up-as-recession-fears-persist-idUKKCN1VW0DC

U.K.
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-gains-on-hopes-of-stimulus-trade-resolution-idUKKCN1VW0QU

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-rise-as-beijing-reins-in-tariff-moves-idUSKCN1VW0PH

Asia:
https://www.marketwatch.com/story/asian-markets-gain-ahead-of-ecb-meeting-2019-09-10/print

Bonds:
https://www.cnbc.com/2019/09/11/us-bonds-treasury-yields-tick-higher-ahead-of-central-bank-meetings.html

Currencies:
https://www.cnbc.com/2019/09/11/forex-markets-european-central-bank-in-focus.html

Oil:
https://www.cnbc.com/2019/09/11/oil-markets-us-crude-stockpiles-john-bolton-in-focus.html

Gold:
https://www.cnbc.com/2019/09/11/gold-markets-european-central-bank-in-focus.html

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