Global Stock Markets
Crude rallied as traders digested President Donald Trump’s decision to walk away from a nuclear deal with Iran. Energy producers shored up European stocks, while U.S. futures also rose and the dollar reversed a gain even as 10-yield Treasury yields topped 3 percent ahead of a bond auction.
West Texas oil reversed Tuesday’s slump to trade at about $71 per barrel, while Brent hit $77 as the market came to terms with a U.S. message that buyers of Iranian crude have six months to curb their purchases.
The Stoxx Europe 600 Index advanced a fourth day as energy companies surged, and contracts for the S&P 500, Dow Jones and Nasdaq followed suit. The MSCI Asia Pacific Index fell. Having erased its 2018 losses earlier this week, the greenback gave up an earlier advance to trade slightly lower. Most metals fell.
The threat of increased geopolitical tension in the Middle East is buffeting global sentiment just as concern spreads over the implications of higher Treasury yields and a stronger dollar. Wednesday brings with it a $25 billion auction of 10-year U.S. notes, with investors waiting to see if the new bonds will carry a 3 percent coupon for the first time in almost seven years.
Elsewhere, Indonesia’s rupiah fell to a fresh 29-month low on worries about capital outflows from emerging markets. Turkey’s lira whipped from a loss to a gain as President Recep Tayyip Erdogan was said to be calling a meeting with officials to discuss the exchange rate, fueling speculation that authorities may take measures to stem a market rout. Gold dropped.
The Stoxx Europe 600 Index gained 0.2 percent as of 7:51 a.m. New York time, the highest in almost 14 weeks.
Futures on the S&P 500 Index increased 0.4 percent, reaching the highest in almost three weeks on its fifth consecutive advance.
The MSCI All-Country World Index climbed 0.1 percent to the highest in more than a week.
The U.K.’s FTSE 100 Index rose 0.4 percent to the highest in more than 14 weeks.
Germany’s DAX Index dipped 0.1 percent.
The MSCI Emerging Market Index rose 0.2 percent to the highest in a week.
The MSCI Asia Pacific Index sank 0.3 percent.
The euro increased 0.1 percent to $1.188. The British pound increased 0.3 percent to $1.3588, the strongest in more than a week on the biggest increase in more than three weeks. The Japanese yen declined 0.6 percent to 109.75 per dollar, the weakest in a week on the largest drop in more than two weeks.
The yield on 10-year Treasuries increased two basis points to 3.00 percent, the highest in two weeks.
Germany’s 10-year yield climbed one basis point to 0.58 percent, the highest in a week. Britain’s 10-year yield gained four basis points to 1.444 percent, the highest in almost two weeks.
West Texas Intermediate crude increased 2.9 percent to $71.03 a barrel, the highest in more than three years on the largest climb in three weeks. Copper climbed less than 0.05 percent to $3.06 a pound. Gold fell 0.3 percent to $1,311.13 an ounce, the weakest in a week on the largest fall in more than a week.
West Texas oil reversed Tuesday’s slump to trade at about $71 per barrel, while Brent hit $77 as the market came to terms with a U.S. message that buyers of Iranian crude have six months to curb their purchases.
The Stoxx Europe 600 Index advanced a fourth day as energy companies surged, and contracts for the S&P 500, Dow Jones and Nasdaq followed suit. The MSCI Asia Pacific Index fell. Having erased its 2018 losses earlier this week, the greenback gave up an earlier advance to trade slightly lower. Most metals fell.
The threat of increased geopolitical tension in the Middle East is buffeting global sentiment just as concern spreads over the implications of higher Treasury yields and a stronger dollar. Wednesday brings with it a $25 billion auction of 10-year U.S. notes, with investors waiting to see if the new bonds will carry a 3 percent coupon for the first time in almost seven years.
Elsewhere, Indonesia’s rupiah fell to a fresh 29-month low on worries about capital outflows from emerging markets. Turkey’s lira whipped from a loss to a gain as President Recep Tayyip Erdogan was said to be calling a meeting with officials to discuss the exchange rate, fueling speculation that authorities may take measures to stem a market rout. Gold dropped.
The Stoxx Europe 600 Index gained 0.2 percent as of 7:51 a.m. New York time, the highest in almost 14 weeks.
Futures on the S&P 500 Index increased 0.4 percent, reaching the highest in almost three weeks on its fifth consecutive advance.
The MSCI All-Country World Index climbed 0.1 percent to the highest in more than a week.
The U.K.’s FTSE 100 Index rose 0.4 percent to the highest in more than 14 weeks.
Germany’s DAX Index dipped 0.1 percent.
The MSCI Emerging Market Index rose 0.2 percent to the highest in a week.
The MSCI Asia Pacific Index sank 0.3 percent.
The euro increased 0.1 percent to $1.188. The British pound increased 0.3 percent to $1.3588, the strongest in more than a week on the biggest increase in more than three weeks. The Japanese yen declined 0.6 percent to 109.75 per dollar, the weakest in a week on the largest drop in more than two weeks.
The yield on 10-year Treasuries increased two basis points to 3.00 percent, the highest in two weeks.
Germany’s 10-year yield climbed one basis point to 0.58 percent, the highest in a week. Britain’s 10-year yield gained four basis points to 1.444 percent, the highest in almost two weeks.
West Texas Intermediate crude increased 2.9 percent to $71.03 a barrel, the highest in more than three years on the largest climb in three weeks. Copper climbed less than 0.05 percent to $3.06 a pound. Gold fell 0.3 percent to $1,311.13 an ounce, the weakest in a week on the largest fall in more than a week.
No comments:
Post a Comment