Global Stock Markets
European stocks climbed and U.S. futures were steady as a dose of calm returned to markets on Thursday, though concerns surrounding global trade were not far away. The yield on 10-year Treasuries edged back above 3 percent, while the euro and pound gained.
The Stoxx Europe 600 Index managed to claw back a little ground following Wednesday’s selloff, even as carmakers took a hit after President Donald Trump ordered a probe into automobile imports to the world’s biggest economy. That news also dragged the MSCI Asia Pacific Index lower. Major American equity benchmarks were poised to open little changed.
Sterling rallied thanks to an April retail sales beat, while the lira resumed its slump as traders weighed whether an emergency rate hike was enough to stem losses. Safe-haven assets including gold and Japan’s yen climbed. Oil slipped.
It’s been a torrid week across markets so far, with investors forced to navigate escalating geopolitical and trade risks, from Trump’s decision to back away from an agreement with China to North Korea warning of a “nuclear-to-nuclear showdown.” Questions are swirling around the Italian populist government’s economic policies, while Brexit negotiations loom large over British assets. Amid the noise, the impact of somewhat dovish minutes from the Federal Reserve appeared to fade.
Meanwhile, emerging-market currencies rose despite the lira move, and developing-nation stocks also advanced. The euro strengthened after falling to a six-month low as traders await the latest minutes from the ECB.
Stocks
The Stoxx Europe 600 Index climbed 0.3 percent as of 10:51 a.m. London time.
Futures on the S&P 500 Index increased less than 0.05 percent.
The U.K.’s FTSE 100 Index declined 0.1 percent.
Germany’s DAX Index advanced 0.1 percent.
The MSCI Emerging Market Index jumped 0.5 percent.
The MSCI Asia Pacific Index decreased 0.2 percent to the lowest in more than two weeks.
Currencies
The euro gained 0.3 percent to $1.173, the biggest climb in two weeks.
The British pound climbed 0.3 percent to $1.3392, the largest climb in more than five weeks.
The Japanese yen advanced 0.3 percent to 109.73 per dollar, the strongest in more than a week.
The Turkish lira decreased 2.4 percent to 4.6865 per dollar, the weakest on record.
Bonds
The yield on 10-year Treasuries advanced one basis point to 3.01 percent, the biggest gain in a week.
Germany’s 10-year yield gained one basis point to 0.52 percent.
Britain’s 10-year yield increased one basis point to 1.448 percent.
Italy’s 10-year yield decreased six basis points to 2.344 percent.
Commodities
West Texas Intermediate crude declined 0.7 percent to $71.32 a barrel, the lowest in more than a week on the biggest drop in almost two weeks.
Gold increased 0.2 percent to $1,296.34 an ounce, the highest in more than a week on the largest climb in two weeks.
Brent crude sank 1 percent to $79.00 a barrel, the biggest tumble in more than two weeks.
Sterling rallied thanks to an April retail sales beat, while the lira resumed its slump as traders weighed whether an emergency rate hike was enough to stem losses. Safe-haven assets including gold and Japan’s yen climbed. Oil slipped.
It’s been a torrid week across markets so far, with investors forced to navigate escalating geopolitical and trade risks, from Trump’s decision to back away from an agreement with China to North Korea warning of a “nuclear-to-nuclear showdown.” Questions are swirling around the Italian populist government’s economic policies, while Brexit negotiations loom large over British assets. Amid the noise, the impact of somewhat dovish minutes from the Federal Reserve appeared to fade.
Meanwhile, emerging-market currencies rose despite the lira move, and developing-nation stocks also advanced. The euro strengthened after falling to a six-month low as traders await the latest minutes from the ECB.
Stocks
The Stoxx Europe 600 Index climbed 0.3 percent as of 10:51 a.m. London time.
Futures on the S&P 500 Index increased less than 0.05 percent.
The U.K.’s FTSE 100 Index declined 0.1 percent.
Germany’s DAX Index advanced 0.1 percent.
The MSCI Emerging Market Index jumped 0.5 percent.
The MSCI Asia Pacific Index decreased 0.2 percent to the lowest in more than two weeks.
Currencies
The euro gained 0.3 percent to $1.173, the biggest climb in two weeks.
The British pound climbed 0.3 percent to $1.3392, the largest climb in more than five weeks.
The Japanese yen advanced 0.3 percent to 109.73 per dollar, the strongest in more than a week.
The Turkish lira decreased 2.4 percent to 4.6865 per dollar, the weakest on record.
Bonds
The yield on 10-year Treasuries advanced one basis point to 3.01 percent, the biggest gain in a week.
Germany’s 10-year yield gained one basis point to 0.52 percent.
Britain’s 10-year yield increased one basis point to 1.448 percent.
Italy’s 10-year yield decreased six basis points to 2.344 percent.
Commodities
West Texas Intermediate crude declined 0.7 percent to $71.32 a barrel, the lowest in more than a week on the biggest drop in almost two weeks.
Gold increased 0.2 percent to $1,296.34 an ounce, the highest in more than a week on the largest climb in two weeks.
Brent crude sank 1 percent to $79.00 a barrel, the biggest tumble in more than two weeks.
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