|Day's Range||29,896.86 - 30,101.83|
|52 Week Range||24,540.63 - 31,592.56|
Most participants are still underinvested in the markets globally, Fink said in an interview with CNBC Tuesday after his company reported earnings. The head of the world’s largest investment firm, with $6 trillion of assets under management, said “huge pools of money” is sitting on the sidelines as investors haven’t rushed back into equities even as the stock market bounced back this year. Fink’s comments come after an already potent rally across multiple benchmark stock indexes this year, with the S&P 500 on the cusp of a record high and the MSCI All-Country World Index about 5 percent away from its January 2018 peak.
TOKYO (AP) — Stock markets were mostly higher Wednesday after news that China's economy grew at a better than expected 6.4% annual pace in the last quarter failed to entice wary investors focused on weaker U.S. corporate earnings.
Asian stocks were mixed in a narrow range Wednesday as China announced its economy grew at a 6.4% annual pace in the last quarter.
The 10-year Treasury yield reached its highest level since the March Federal Reserve meeting. Apple Inc. was flat and Qualcomm Inc. surged after the two dropped litigation against each other. Netflix Inc. ended the regular session higher, but slid in late trading after a key metric missed estimates.
Global equities were positive as investors worked through more touchstone numbers from the financial sector, with upbeat results from bellwethers among healthcare and consumer stocks also helping. Financials were the best-performing sector in the S&P 500, leading Wall Street’s benchmark index 0.1 per cent higher. and United Healthcare Group added to the trend away from banks.
Consumer sentiment figures out of Germany and Eurozone and industrial production figures out of the U.S will be in focus later today.
Sovereign bonds trimmed their declines. Utilities and information technology stocks were among the worst performers on the mainland. The Hang Seng China Enterprises Index lost 0.2 percent in Hong Kong after earlier reaching its highest level since June.
It’s risk-on in the early hours, support the EUR while pinning back demand for the Greenback. Earnings results will be key later.
U.S. stocks end higher Friday after a series of strong bank earnings, led by JPMorgan, boosted confidence in the U.S. economy while the Dow gained more than 200 points as Walt Disney shares soared.
The S&P traded flat ahead of earnings season while investors picked up little from Fed’s Clarida who stuck to the Feds current mantra “we can be patient as we assess what adjustments, if any, will be appropriate to the stance of monetary policy.”
China trade figures ease some of the market jitters over the economy. The focus will now shift to earnings to support risk appetite throughout the day.
Today major indices are in red. At the same time, EURUSD cementing major support on 1.1200, and Bitcoin looks heavy after an unsuccessful attempt to grow above $5400.
Our call of the day, from Hussein Sayed, chief market strategist at FXTM, says it’s time for investors to start holding Wall Street responsible for further stock market gains and stop looking to central banks for a rescue.
Trade hopes continue to support stocks while traders wait on the final deal, and the start of earnings season on Friday.
Asian stocks stepped back from near eight-month highs on Thursday and the dollar eased as cautious European and U.S. central banks reinforced investors' worries about the slowing global economy and trade protectionism. Spreadbetters pointed to a subdued start for Europe, with Eurostoxx 50 futures flat while futures for Germany's Dax and London's FTSE opened open lower. Also weighing on sentiment, U.S. President Donald Trump has escalated trade tensions by threatening new tariffs on goods from the European Union, even as the Sino-U.S. trade dispute remains unresolved.
A quiet day on the economic calendar will keep the Pound in focus. Will there be calls for a snap general election?
Don’t get us wrong, Tencent has been a great story thus far. The stock with the single biggest weighting in the MSCI Asia Pacific Index is up about 25 percent already this year and briefly topped the HK$400 ($51) level for the first time since June 2018 today after one of its games won regulatory approval in China, according to a statement on the State Administration of Press, Publication, Radio, Film and Television’s website. Let’s start in Japan, where Softbank Group Corp. and Rakuten Inc. are up around the 50 percent mark each this year, among the biggest gainers in the Nikkei 225 Index.
U.S. stocks advanced, while Treasuries held gains after Federal Reserve meeting minutes confirmed the central bank’s dovish tilt on policy this year. The S&P 500 rebounded from its first loss in nine days as unexpectedly soft inflation reading potentially boosted the Fed’s new wait-and-see approach to rate hikes.
Despite a backdrop of troubling economic signals, the nation’s benchmark S&P/ASX 200 Index rallied almost 10 percent in the first quarter -- its best-ever performance to begin a year in data going back almost three decades. Strong commodity prices and promises of easy monetary policy from central banks are working in the gauge’s favor even as Australia’s property slump deepens and its economy continues to wane. “It’s defied all odds and we have continued,” Eleanor Creagh, Sydney-based Australia market strategist at Saxo Capital Markets, said of the benchmark’s rally.
The city’s equity market has overtaken Japan to be the world’s third largest in value, behind only the U.S. and mainland China, courtesy of a rebound in Hong Kong stocks after their worst year since 2011. Hong Kong’s market cap was $5.78 trillion as of Tuesday, compared with $5.76 trillion for Japan, according to data compiled by Bloomberg based on where primary securities are listed.
Dickie Wong of Kingston Securities says the Hong Kong market will stay around the 30,000 level, but 5G sectors will outperform the overall market.