Monday, 27 February 2017

YIELDS, DOLLAR EYE TRUMP, YELLEN

It was also a mixed bag in stocks. Benchmark European markets were flat, Asian bourses fell and U.S. futures pointed to a slightly higher open on Wall Street ESc1 DJc1.
MSCI's benchmark world stock index slipped 0.1 percent to 444.53 points .MIWD00000PUS, on course for its first consecutive daily fall for three weeks. On Thursday, it hit a record high of 447.67 points.

The index of the leading 300 European stocks .FTEU3 was flat on the day at 1,457 points. Euro zone stocks performed better, with the index of leading 50 shares .STOXX50E up 0.3 percent, lifted by a 0.8 percent rise in bank stocks .SX7E.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.3 percent, near the day's lows and following Friday's 0.7 percent fall.


Japan's Nikkei closed .N225 0.9 percent lower, hitting a 2-1/2 week low on concerns that a stronger yen would crimp corporate earnings.

Though U.S. stocks clawed their way to a higher close on Friday, major indices spent much of that day's session in negative territory, suggesting increased caution.

Yet it was the Dow's 11th consecutive record high on Friday, which is the longest such run since 1987.

In currencies, the dollar was flat on an index basis .DXY. The euro was up 0.2 percent at $1.0580 EUR=, but the dollar was 0.1 percent higher against the yen at 112.30 yen JPY= and sterling was down 0.3 percent at $1.2430 GBP=.

In addition to Trump's address to Congress, rates and the dollar will take their cue this week from Federal Reserve Chair Janet Yellen's speech on Friday.

In commodities, Brent crude LCOc1 rose 1.15 percent to $56.62 per barrel while U.S. West Texas Intermediate CLc1 was up 0.8 percent at $54.42 per barrel as a global supply glut appeared to ease.

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