^N225 - Nikkei 225

Osaka - Osaka Delayed Price. Currency in JPY
21,229.65
+143.06 (+0.68%)
As of 10:49AM JST. Market open.
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Previous Close21,086.59
Open21,156.88
Volume0
Day's Range21,123.97 - 21,239.56
52 Week Range18,948.58 - 24,448.07
Avg. Volume66,293
  • Stocks Rise With Focus on G-20; Treasuries Steady: Markets Wrap
    Bloomberg28 minutes ago

    Stocks Rise With Focus on G-20; Treasuries Steady: Markets Wrap

    (Bloomberg) -- Asian stocks edged up, though volumes were lower across the board, ahead of the highly anticipated meeting between Presidents Donald Trump and Xi Jinping set for Saturday morning. Treasuries steadied after slipping Wednesday.Shares in Japan, South Korea and Hong Kong saw modest gains, while Australian equities dipped. Technology stocks outperformed after positive results in the semiconductor sector. Earlier, U.S. stocks dipped as investors weighed mixed messages on trade heading into the weekend’s meeting that could mark a step toward progress in the trade war. Ten-year Treasury yields held at 2.04%.The U.S.-China trade spat is looming large as U.S. President Donald Trump once again threatened Wednesday substantial additional tariffs if a trade deal can’t be reached. Meanwhile, many traders hope the Fed will counter any headwinds to global growth with aggressive interest-rate cuts, though Fed member James Bullard made clear Tuesday that’s not a given.“The Fed needs to push back,” Greg Peters, senior portfolio manager at PGIM Fixed Income, told Bloomberg TV. “The direction is correct but the number is too much. The Fed is trying to disconnect their policy to the unknown of trade.”Elsewhere, Bitcoin fell after surging above $13,000. Oil retreated after jumping the previous session on supply concerns.Here are some key events coming up:China releases industrial profit data for May on Thursday.The Group of 20 summit is in Osaka, Japan, on Friday and Saturday.These are the main moves in markets:StocksFutures on the S&P 500 Index rose 0.2% at 9:32 a.m. in Hong Kong. The underlying gauge fell 0.1% Wednesday.Japan’s Topix index rose 0.7%.Hong Kong’s Hang Seng added 0.4%.The Shanghai Composite rose 0.3%.South Korea’s Kospi index added 0.4%.Australia’s S&P/ASX 200 Index was flat.CurrenciesThe yen was flat at 107.77 per dollar.The offshore yuan held at 6.8844 per dollar.The Bloomberg Dollar Spot Index was little changed.The euro bought $1.1369, little changed.BondsThe yield on 10-year Treasuries dipped to 2.04%.Australia’s 10-year bond yield added four basis points to 1.33%.CommoditiesWest Texas Intermediate crude slipped 0.4% to $59.15 a barrel.Gold rose 0.1% to $1,409.72 an ounce.\--With assistance from Vildana Hajric, Randall Jensen and Nancy Moran.To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Cormac Mullen, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Stocks Edge Lower; Treasuries Fall, Oil Advances: Markets Wrap
    Bloomberg6 hours ago

    Stocks Edge Lower; Treasuries Fall, Oil Advances: Markets Wrap

    (Bloomberg) -- Most U.S. stocks fell as trade concerns countered strength in the tech sector. Treasuries declined with gold after investors eased back bets on a deep cut to interest rates next month.The S&P 500 dropped for a fourth-straight day, with three stocks retreating for every two that rose. The benchmark swung between gains and losses for most of the afternoon session as investors weighed mixed messages on trade heading into this weekend’s highly-anticipated meeting between Presidents Donald Trump and Xi Jinping. The Nasdaq indexes advanced, even as Facebook Inc. and Google fell after Trump said the U.S. “perhaps” will sue the two companies. Micron Technologies Inc.’s profit topped estimates, spurring the Philadelphia Semiconductor Index to the highest level in more than a month.Ten-year Treasury yields pushed back above 2%, and gold retreated as investors continued to digest rate-cut comments Tuesday by Federal Reserve officials that didn’t match market expectations. The dollar was little changed versus major peers, while West Texas crude rose toward $60 a barrel.“There are two things we’re focusing on: the G-20 meeting this week in Osaka, and the second one is the Fed and the potential for monetary easing, not only at the Fed but also at a lot of these major central banks,” Jack Janasiewicz, a portfolio strategist at Natixis Investment Managers, said in an interview. “Both of those are giving quite a few different cross-currents which could have pretty significant implications for how the market will react going forward.”The trade spat between the U.S. and China is looming large for investors ahead of this weekend’s meeting at the Group of 20 conference. Trump once again threatened Wednesday substantial additional tariffs if a deal can’t be reached. Meanwhile, many traders hope the Federal Reserve will counter any headwinds to global growth with deep interest-rate cuts, though Fed member James Bullard made clear Tuesday that’s not a given.Elsewhere, Bitcoin surged above $13,000 to the highest since January 2018. New Zealand’s dollar strengthened after its central bank left rates unchanged.U.S. futures spiked higher overnight after a CNBC report that Treasury Secretary Steven Mnuchin said a trade deal was 90% done. The report was corrected to indicate that the comments referred to May.Here are some key events coming up:The Group of 20 summit is in Osaka, Japan, on Friday and Saturday.These are the main moves in markets:StocksThe S&P 500 Index fell 0.1% as of 4 p.m. New York time.The Nasdaq composite gained 0.3%, while the Nasdaq 100 advanced 0.5%.The Stoxx Europe 600 Index declined 0.3%.The MSCI Emerging Market Index increased 0.3%.The MSCI Asia Pacific Index sank 0.3% to the lowest in a week.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The euro rose 0.1% to $1.1376.The British pound fell 0.1% $1.2677.The Japanese yen dipped 0.4% to 107.67 per dollar, the weakest in a week.BondsThe yield on 10-year Treasuries advanced six basis points to 2.05%.Germany’s 10-year yield gained two basis points to -0.301%.Britain’s 10-year yield increased three basis points to 0.819%.CommoditiesWest Texas Intermediate crude gained 2.3% to $59.17 a barrel, the highest in more than four weeks.Gold fell 0.4% to $1,413.40 an ounce, the first retreat in more than a week.\--With assistance from Ksenia Galouchko, Robert Brand and Laura Curtis.To contact the reporters on this story: Randall Jensen in New York at rjensen18@bloomberg.net;Vildana Hajric in New York at vhajric1@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, ;Samuel Potter at spotter33@bloomberg.net, Ravil ShirodkarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Global Equities Bounce on Hopes of Trade War Resolution
    FX Empire12 hours ago

    Global Equities Bounce on Hopes of Trade War Resolution

    Equity markets rallied in Asia and Europe in the early day and US futures are pointing to a higher open.

  • Word Power: How the Fed Let the Markets Slide Down
    FX Empire17 hours ago

    Word Power: How the Fed Let the Markets Slide Down

    Tuesday’s trading cannot be described as calm, but predictable. The situation with the Fed it is both simple and complicated at the same time: the desire to soften monetary policy is mixed with the uncertainty expressed in statements.

  • Reuters19 hours ago

    Nikkei drops as Fed caution weighs on sentiment; chip shares soar

    Japan's Nikkei fell on Wednesday after the U.S. Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates, although chip-related stocks gained. Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers faced new calls by Trump to cut interest rates.

  • Walmart aims to list minority stake in Japan unit Seiyu
    Reuters20 hours ago

    Walmart aims to list minority stake in Japan unit Seiyu

    Walmart said it aims to list its Japanese supermarket unit Seiyu while keeping a majority stake in the business, amid on-and-off speculation the U.S. retail giant was looking to exit Japan where it has struggled to grow. Lionel Desclee, who was hired earlier this year as CEO of Walmart Japan, said in a speech to employees on Wednesday that Walmart would remain invested in Seiyu. "We also have a longer-term aspiration to list a minority stake of our business in Japan," he said in a speech, according to a Walmart Japan statement.

  • Markets May Not Need a Deal, But Don't Want War
    Bloomberg20 hours ago

    Markets May Not Need a Deal, But Don't Want War

    (Bloomberg) -- With geopolitical tensions and trade fears simmering, all the action is in havens as nervous investors pile up on gold and Swiss francs. The overall market may be resilient for now, but unresolved economic and political issues could still hit confidence and corporate earnings.In an eerie calm, stock volatility remains low for both the S&P 500 and the Euro Stoxx 50 ahead of the G-20 meeting between U.S. President Donald Trump and China’s Xi Jinping, during a strong month for equities. Europe’s benchmark and the S&P 500 have gained 5% and 6%, respectively in the period.“I’ve been surprised at how benign the market environment has been during this year so far, given the amount of stuff that’s going on in the wider economic and geopolitical context, both here and internationally,” says Ken Wotton, a fund manager at Gresham House in London. “I just find it very hard to believe there won’t be periods where sentiment, risk appetite retracts and there’s more volatility in the market.”The market’s composure jars with the lack of confidence from analysts, who have been cutting earning estimates as much as in January, according to Citigroup’s earnings revisions index.The worries are visible in investment flows, though. Bank of America Merrill Lynch’s clients have been net sellers of U.S. stocks in the past week for the first time in seven weeks, in a possible effort to freeze gains ahead of the G-20 summit, the bank’s strategists say. During the past five weeks, foreign-exposed sectors saw bigger outflows than domestics, they add.The market may have learned to live with trade tension, counting on dovish central bank policies to act as a cushion, but it doesn’t change the fact that global commerce has been reshaped by tariffs and disputes. China’s imports from Japan, South Korea and the U.S. fell 16%, 18% and 27% respectively last month from a year ago. Those from the European Union are still growing (+1.8%), but at a much slower pace.That’s also why the Trump-Xi meeting matters, even if a deal is unlikely. UBS Wealth strategists don’t expect any breakthrough on trade, nor extra tariffs immediately. Their base-case scenario is for a prolonged truce between the U.S. and China that would likely extend or consolidate the stock rally. But a breakdown would thump economies and markets, they say.In the meantime, Euro Stoxx 50 futures are trading down 0.3% ahead of the open.SECTORS IN FOCUS TODAY:Watch tobacco firms after San Francisco became the first U.S. city to pass a ban on e-cigarettes. Watch British American Tobacco and Imperial Brands.Watch chipmakers after U.S. group Micron Technology beat earnings expectations and said it has resumed making some shipments to China’s Huawei. Watch Infineon, STMicroelectronics and AMS after U.S. peers rallied.Watch oil stocks as crude prices jumped after a report suggesting stockpiles in the U.S. have continued to shrink, and tensions with Iran showed no sign of abating.Watch the pound and U.K. stocks after no-deal has also moved to the center of the debate between the two candidates for prime minister, with front-runner Boris Johnson proposing two exit strategies that the EU has already rejected.Watch the bond market pricing increasingly lower interest rates. This 100-year bond yields just over 1%, highlighting just how desperate investors are for returns.COMMENT:“Rate cuts/QE, assuming sufficient and timed correctly, would seek to avoid a deep recession and underpin economic growth,” Citi stratetegists write in a note. “We advise taking a step back and asking why (Central Banks) intervention is required? Because all is not well. And it is not just the deepening negative impact of trade wars, many economies were already struggling to grow. Yes, CB stimulus can drive a risk asset rally but cyclical and structural headwinds remain (read Japanification, growing populism, weak bank profitability and capital return uncertainty).”COMPANY NEWS AND M&A:Natixis’s H20 Funds Hemorrhage $6.4 Billion as Crisis DeepensUBS CEO Says He Feels a ‘Biting Headwind’ From Swiss RegulatorsYara Lifts Div Target to 50% Net Income; Widens Improvement PlanSchneider Electric Confirms FY and 2021 TargetsMediobanca, J.C. Flowers Said in Talks for Julius Baer’s KairosSelf Storage Offering Prices 13m Shares at NOK19.25/ShareRenault’s Senard Said No Discussions W/ Fiat Ongoing Now: EchosDSV Extends Panalpina Offer Until July 17 From June 26Autos: Europe’s Tough New Emissions Rules Come With $39 Billion ThreatTechnipFMC Agrees to Pay $301.3 Million to Resolve Bribery CaseEDP Agrees to Sell EU470m of 2019 Tariff Deficit to TagusDIA Reaches Restructuring Agreement With Syndicated LendersEQT Said to Seek Sept. IPO Valuing Company at EU7b: BorsenNOTES FROM THE SELL SIDE:Buzzi Unicem fundamentals have kept improving since Morgan Stanley assumed coverage in May, and with valuation also turning more favorable plus an upside consensus risk, stock is upgraded to overweight from equal-weight.Efficient and well-run U.K. water companies will remain attractive even if there is a significant step-down in allowed regulatory returns, Jefferies says in a note initiating coverage of the sector. Severn Trent started at buy, United Utilities and Pennon at hold.The balance of risk for Jupiter Fund Management looks to be moving toward the upside, with flows starting to stabilize even if investment performance remains a little mixed, Peel Hunt says in note, upgrading stock to buy.Berenberg raised Adidas to buy from hold, with 53% increase in PT to EU315 (the highest among analysts tracked by Bloomberg), with broker citing overly conservative consensus estimates and a 20% discount to Nike.TECHNICAL OUTLOOK for Stoxx 600 index:Resistance at 392.7 (July 2018 high); 397.9 (May 2018 high)Support at 381.4 (50-DMA); 374.5 (61.8% Fibo)RSI: 56.9TECHNICAL OUTLOOK for Euro Stoxx 50 index:Resistance at 3,514 (May high); 3,596 (May 2018 high)Support at 3,411 (50-DMA); 3,403 (61.8% Fibo)RSI: 58.7MAIN RESEARCH AND RATING CHANGES:UPGRADES:Adidas upgraded to buy at BerenbergBuzzi Unicem raised to overweight at Morgan Stanley; PT 20 EurosJupiter upgraded to buy at Peel HuntNovo Nordisk Upgraded to Buy at SEB Equities; PT 385 KronerSalvatore Ferragamo upgraded to hold at Jefferies; PT 21 EurosDOWNGRADES:BBVA downgraded to sell at SocGen; PT 4.30 EurosEland Oil & Gas cut to hold at Panmure Gordon; PT 1.35 PoundsTed Baker downgraded to sector perform at RBCINITIATIONS:Aena rated new buy at Berenberg; PT 215 EurosAeroports de Paris rated new hold at Berenberg; PT 135 EurosElis rated new overweight at Morgan Stanley; PT 19 EurosFlughafen Wien rated new buy at Berenberg; PT 46 EurosFraport rated new sell at Berenberg; PT 57 EurosPennon rated new hold at Jefferies; PT 7.70 PoundsSecuritas rated new underweight at JPMorgan; PT 145 KronorSevern Trent rated new buy at Jefferies; PT 23.40 PoundsUnited Utilities rated new hold at Jefferies; PT 8.70 PoundsZurich Airport rated new sell at Berenberg; PT 151 FrancsMARKETS:MSCI Asia Pacific down 0.3%, Nikkei 225 down 0.7%S&P 500 down 0.9%, Dow down 0.7%, Nasdaq down 1.5%Euro down 0.07% at $1.1359Dollar Index up 0.15% at 96.28Yen down 0.22% at 107.44Brent up 1.7% at $66.1/bbl, WTI up 2.1% to $59/bblLME 3m Copper down 0.4% at $6015/MTGold spot down 1.1% at $1408.3/ozUS 10Yr yield up 2bps at 2.01%ECONOMIC DATA (All times CET):8:45am: (FR) June Consumer Confidence, est. 100, prior 9910am: (IT) 1Q Deficit to GDP YTD, prior 2.1%10:30am: (UK) May UK Finance Loans for Housing, est. 41,000, prior 42,989* For a daily wrap on developments in European equity capital markets, click here\--With assistance from Lisa Pham.To contact the reporter on this story: Michael Msika in London at mmsika4@bloomberg.netTo contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, Jon MenonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters21 hours ago

    GLOBAL MARKETS-Asia stocks dip after Fed tapers aggressive easing expectations

    Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Fed Chair Jerome Powell on Tuesday said the central bank is "insulated from short-term political pressures," pushing back against U.S. President Donald Trump's demand for a significant rate cut. Powell, however, said Fed policymakers are wrestling with questions on whether uncertainties around U.S. tariffs, Washington's conflicts with trading partners and tame inflation require a rate cut.

  • Asian markets mixed on lowered expectations for Fed rate cut, U.S.-China trade deal
    MarketWatch21 hours ago

    Asian markets mixed on lowered expectations for Fed rate cut, U.S.-China trade deal

    Asian markets were mixed Wednesday, as investors’ recent enthusiasm was tempered by comments by Fed Chairman Jerome Powell, while U.S. officials lowered expectations for the expected meeting between Presidents Donald Trump and Xi Jinping at the G-20 meeting this week.

  • Reutersyesterday

    Nikkei drops after Fed rate comments; chip-related shares buck weakness

    Japan's Nikkei fell on Wednesday after the U.S. Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates, but chip-related stocks gained. Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers faced new calls by Trump to cut interest rates.

  • U.S. Stocks Slide Amid Fed Talk, Trade Tensions: Markets Wrap
    Bloomberg2 days ago

    U.S. Stocks Slide Amid Fed Talk, Trade Tensions: Markets Wrap

    (Bloomberg) -- U.S. stocks fell the most in more than three weeks as Federal Reserve Chairman Jerome Powell warned the downside risks to the economy have increased and Trump administration officials signaled a trade deal at the Group of 20 meeting is unlikely. Treasuries and the dollar advanced.The S&P 500 fell for a third-straight session, the longest streak since May 9, as Powell reiterated the case for somewhat lower interest rates, but stopped short of signaling a cut was imminent. Markets have been pricing in a reduction of nearly 50 basis points in July. St. Louis Fed President James Bullard said a cut of that magnitude seemed unwarranted.Tech shares led losses, with the Nasdaq 100 falling more than 1.7%, after a senior Trump administration official told Bloomberg the U.S. won’t accept further conditions on tariffs as part of reopening negotiations and no detailed trade deal is expected from the leaders’ summit.The two-year Treasury was little changed around 1.73%, while the 10-year dropped below 2%, a level that until last week it hadn’t breached in three years. The dollar rose for the first time in six sessions.With stress between the U.S. and Iran building and the White House apparently playing down hopes of a trade breakthrough when Trump and China’s Xi Jinping meet this week, investors have edged away from risk assets following the recent central bank-fueled rally. The market has been betting the Fed will produce deep cuts to interest rates this year, and comments by officials Tuesday highlighted investor sensitivity to any hints that may not happen.There’s “the short-term headlines related to people watching the G-20 and the potential for any news related to the US-China negotiations. That’s one piece that in the shorter run is making the markets a little uneasy. The other one is related to the geopolitical tensions with Iran,” said Omar Aguilar, the chief investment officer for equities at Charles Schwab Investment Management. “The bigger picture still drives the markets, which is we have lower interest rates coming up and the market continues to place a big bet on a July rate cut by the Fed.”Elsewhere, Drugmaker Allergan surged after agreeing to be bought by AbbVie Inc. Bitcoin extended its gains through $11,000. West Texas oil edged lower as investors weighed escalating tensions between the U.S. and Iran against the possibility of OPEC+ extending production cuts.Here are some key events coming up:MSCI Inc. announces results of its 2019 Market Classification Review on Tuesday, including whether Kuwait gets upgraded from frontier to emerging-market status.The Group of 20 summit is in Osaka, Japan on Friday and Saturday.These are the main moves in markets:StocksThe S&P 500 Index fell 0.95%, the biggest decline since May 31, as of 4 p.m. New York time.The Stoxx Europe 600 Index dipped 0.1%.The MSCI Emerging Market Index sank 0.8%.The MSCI Asia Pacific Index decreased 0.4%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.1%.The euro dropped 0.3% to $1.1370, the first retreat in a week.The British pound declined 0.4% to $1.2696.The Japanese yen climbed 0.1% to 107.16 per dollar.BondsThe yield on 10-year Treasuries declined three basis points to 1.99%.Germany’s 10-year yield fell two basis points to -0.31%, the lowest on record.Britain’s 10-year yield dipped two basis points to 0.794%.CommoditiesWest Texas Intermediate crude was little changed at $57.89 a barrel.Gold increased 0.6% to $1,426.50 an ounce.\--With assistance from Cormac Mullen and Samuel Potter.To contact the reporters on this story: Randall Jensen in New York at rjensen18@bloomberg.net;Sarah Ponczek in New York at sponczek2@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Yakob Peterseil, Jeremy HerronFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Futures Weighed by Geopolitical Tensions, Upcoming Fed Speeches in Focus
    FX Empire2 days ago

    Futures Weighed by Geopolitical Tensions, Upcoming Fed Speeches in Focus

    The global equity markets were mostly lower ahead of the opening bell as investors digested tensions between Iran and the US. There are two Fed member speeches today that stand to move the markets, depending on the message conveyed.

  • TheStreet.com2 days ago

    Dow Futures Flat, Dollar Sips as Trade Concerns Trim Risk Appetite Ahead of G20

    U.S. stock futures retreat, dollar wanes as investors peel back from recent equity market highs and take a defensive stance on risk ahead of this weekend's G20 Summit in Japan. Global oil prices edge lower following yesterday's sanctions on the Iranian leadership and suggestions that the U.S. military presence in the Gulf could abate over the coming months. U.S. equity futures drifted lower Tuesday, setting up the S&P 500 for its first three-day decline since early May, as investors peel back from recent record highs and take a defensive stance on risk ahead of this weekend's G20 Summit in Japan.

  • Asian markets pull back ahead of Trump-Xi meeting at G-20
    MarketWatch2 days ago

    Asian markets pull back ahead of Trump-Xi meeting at G-20

    Asian markets fell Tuesday, as investors awaited a meeting between Presidents Donald Trump and Xi Jinping later this week.

  • Asian Investors “Uncomfortable” After U.S. Official Dampens Positive Sentiment Ahead of Trump-Xi Meeting
    FX Empire2 days ago

    Asian Investors “Uncomfortable” After U.S. Official Dampens Positive Sentiment Ahead of Trump-Xi Meeting

    The early sentiment in Asia indicates that sellers have gained the upper hand. It’s not a bearish tone, per se, but rather one being dictated by long liquidation by those investors who want to avoid the pain of another steep sell-off, and aggressive short-sellers betting on the worst outcome.

  • Reuters2 days ago

    Japanese shares dip but losses limited ahead of G20

    Japan's Nikkei share average edged down on Tuesday amid brewing U.S.-Iran tensions and with a stronger yen weighing on exporters, but losses were limited ahead of a G20 summit, which could determine near-term risk appetite direction. U.S. President Donald Trump and Chinese Xi Jinping are expected to discuss trade issues on the sidelines of the June 28-29 G20 summit in Japan. "It's a quiet market in which sellers are few and sparse ahead of the Trump-Xi meeting at the G20," said Takashi Hiroki, chief strategist at Monex Securities.

  • Gold soars to six-year high, stocks slide after Powell speech
    Reuters2 days ago

    Gold soars to six-year high, stocks slide after Powell speech

    Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty on whether the Federal Reserve will cut interest rates in July as has been expected. Fed Chairman Jerome Powell said in a speech the U.S. central bank is insulated from short-term political pressures as policymakers wrestle with whether to cut rates amid slowing growth as President Donald Trump has demanded. Equity markets have rallied this month in anticipation that Fed policymakers would cut rates, but Powell's remarks cast doubt on those expectations when he referred to the Fed's independence.

  • U.S. Stocks Fall; Treasuries Rise, Dollar Drops: Markets Wrap
    Bloomberg3 days ago

    U.S. Stocks Fall; Treasuries Rise, Dollar Drops: Markets Wrap

    (Bloomberg) -- U.S. stocks edged away from records as investors weighed expectations for easier monetary policy against concerns about a slowing global economy. Treasuries gained, while the dollar dropped.The S&P 500 fell for a second session, stalling below last week’s all-time high that was fueled by the prospect of rate cuts. Health-care paced losses as Bristol-Meyers Squibb Co. tumbled after the company said it will strip out a top drug from its merger with Celgene Corp. to get regulator approval. Energy producers dropped in the wake of new U.S. sanctions on Iran. The Russell 2000 Index slumped.Investors in risk assets have continued to shrug off signs of an economic slowdown and focus on the increasingly dovish tone at central banks around the world. That attention will intensify Tuesday when Fed Chair Jerome Powell discusses monetary policy. But sentiment could be at a crossroads as the conflict between the America and Iran has ramped up, and the meeting between China’s President Xi Jinping and Donald Trump this week at the Group of 20 conference in Japan presents a pivot point for trade relations between the two countries.The 10-year Treasury yield dropped to 2.02%, while West Texas crude rose toward $58 a barrel. The euro touched a three-month high against the dollar even as data showed that a slump in German business confidence deepened in June.It’s “a pretty good guess that we won’t see a whole lot of movement in front of the big upcoming meetings (G20 and OPEC),” wrote Matt Maley, equity strategist at Miller Tabak & Co. “Given the meeting between President Trump & President Xi at the one and the impact the situation with Iran could/should have on the other, the results of those meetings should be quite important to the stock market’s next move.”Elsewhere, gold extended its advance above $1,400 an ounce, while Bitcoin surged toward 11,000.Here are some key events coming up:Fed Chairman Jerome Powell speaks at the Council on Foreign Relations in New York Tuesday. He’ll discuss the challenges facing the U.S. economy.MSCI Inc. announces results of its 2019 Market Classification Review on Tuesday, including whether Kuwait gets upgraded from frontier to emerging-market status.The Group of 20 summit is in Osaka, Japan on Friday and Saturday.These are the main moves in markets:StocksThe S&P 500 fell 0.2% as of 4 p.m. in New York.The Nasdaq 100 Index dropped 0.3%, while the Russell 2000 Index slid 1.3%.The Stoxx Europe 600 Index decreased 0.3% to the lowest in a week.The MSCI Emerging Market Index advanced 0.1%.CurrenciesThe Bloomberg Dollar Spot Index dropped 0.1%. The euro rose 0.2% to $1.1388, the strongest in almost 14 weeks.The British pound was little changed at $1.2736.The Japanese yen was little changed at 107.31 per dollar.BondsThe yield on 10-year Treasuries dipped four basis points to 2.02%.Germany’s 10-year yield declined two basis points to -0.31%.Japan’s 10-year yield advanced less than one basis point to -0.154%.CommoditiesWest Texas Intermediate crude rose 0.6% to $57.78 a barrel.Gold climbed 1.5% to $1,421.60 an ounce, reaching the highest in almost six years.\--With assistance from Anchalee Worrachate, Yakob Peterseil and Vildana Hajric.To contact the reporters on this story: Randall Jensen in New York at rjensen18@bloomberg.net;Sarah Ponczek in New York at sponczek2@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Randall JensenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Asian stock markets tick higher as China confirms Xi headed to G-20
    MarketWatch3 days ago

    Asian stock markets tick higher as China confirms Xi headed to G-20

    Asian stock markets put up mild gains Monday, with cautious bullish optimism emerging for a thaw in U.S.-China trade talks.

  • Futures Rise Alongside Bonds and Oil Prices
    FX Empire3 days ago

    Futures Rise Alongside Bonds and Oil Prices

    US equities are set for a modestly higher open while global equities are mixed to start the new week. The focus for equity traders will be on a meeting between Trump and Xi that takes place later this week.

  • TheStreet.com3 days ago

    Dow Futures Rise, Global Stocks Edge Higher, as US-China Trade Detente Nears

    U.S. stocks look to extend gains this week, and possibly re-test all-time highs, as investors bet on both central bank support and a breakthrough in trade talks between Washington and Beijing. Global gains were tempered, however, by rising military tensions between the U.S. and Iran, as well as the threat of "significant" sanctions on Tehran following last week's downing of an unmanned U.S. military drone. Global oil prices edge higher as Secretary of State Mike Pompeo heads to the Gulf for talks with U.S. allies and prepares to announces Tehran sanctions.

  • Global stocks mostly flat ahead of G20; dollar slips
    Reuters3 days ago

    Global stocks mostly flat ahead of G20; dollar slips

    Global equity markets traded mostly flat on Monday as investors awaited U.S.-China trade talks the end of this week at the G20 summit, and the dollar fell to three-month lows on bets the Federal Reserve may cut interest rates more than once this year. European stocks stumbled on fears of an escalation in Iran tensions, which also kept gold prices near a six-year high. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other Iranian senior officials with new sanctions on Monday.