|Day's Range||22,047.90 - 22,204.75|
|52 Week Range||18,948.58 - 24,448.07|
Since the 2011 Fukushima disaster, Japan has been scrambling to secure alternative sources of energy, and geothermal may be able to provide a solution
(Bloomberg) -- A Friday flare-up in trade tensions between the U.S. and China sent American equities to the first weekly decline in a month. Treasuries capped a fifth straight gain and the dollar rose.The S&P 500 halted a three-day advance on the week’s final day, with losses coming after Chinese trade officials canceled farm visits and President Donald Trump called the nation a threat. Technology and consumer shares sensitive to U.S. tariffs on Chinese goods paced the decline. Stocks edged higher for most of the week after the Federal Reserve delivered a rate cut and promised to do more if needed. Data on housing and manufacturing topped estimates.Treasuries climbed all week, sending the 10-year yield lower by 17 basis points. The move was unrelated to problems in the short-term funding market that prompted the New York Fed to announce a series of overnight operations for the next three weeks to ensure a vital corner of financial markets work properly. The dollar nudged higher in the five days.U.S. equity trading may have been extra volatile Friday because of a quarterly event known as “quadruple witching,” when options and futures on indexes and stocks expire. The moves bring some of the busiest trading days of the year, and volume was above average on the week’s last trading day.After a slew of monetary policy decisions this week, including the Fed’s interest-rate cut Wednesday and pledge to support economic growth, traders are now looking toward negotiations between the U.S. and China. President Donald Trump said Friday he doesn’t want to make a partial trade deal with China and that voters won’t punish him for the ongoing trade war in his 2020 bid for re-election.“I keep calling it the headline hokey pokey -- that’s kind of how it feels,” said Matt Lloyd, chief investment strategist at Advisors Asset Management, which has about $30 billion in assets under management. “The back and forth will continue. I don’t think anything will get done until 2020.”Elsewhere on Friday, the Stoxx Europe 600 Index advanced. The pound fell as the Irish government damped hopes of an imminent breakthrough in Brexit negotiations.Asian stocks saw modest gains on reduced volumes, except in India, where equities soared after the country cut its corporate tax rate. Hong Kong shares slipped while the Shanghai Composite Index added just 0.2% after China’s modest cut to a reference rate for bank loans failed to impress investors.Here are the main moves in markets:StocksThe S&P 500 Index fell 0.5% at the close of trading in New York, leaving it down by the same amount for the week.The Stoxx Europe 600 Index advanced 0.3%.The MSCI Asia Pacific Index climbed 0.4%.The MSCI Emerging Market Index climbed 0.4%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.1%.The euro fell 0.2% to $1.1021.The British pound decreased 0.4% to $1.2473.The Japanese yen gained 0.4% to 107.55 per dollar.BondsThe yield on 10-year Treasuries fell six basis points to 1.72%.Germany’s 10-year yield fell one basis point to -0.53%.Britain’s 10-year yield slipped one basis point to 0.63%.CommoditiesGold rose 1.1% to $1,515.90 an ounce.West Texas Intermediate crude fell 0.1% to $58.09 a barrel.\--With assistance from Adam Haigh, Todd White, Lu Wang and Constantine Courcoulas.To contact the reporters on this story: Brendan Walsh in Austin at firstname.lastname@example.org;Vildana Hajric in New York at email@example.comTo contact the editors responsible for this story: Samuel Potter at firstname.lastname@example.org, ;Jeremy Herron at email@example.com, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Japanese stocks ended higher on Friday and posted their third straight week of gains as consumer-related shares rose on speculation the Bank of Japan will follow other central banks and ease policy next month. The BOJ kept policy steady on Thursday but signalled its readiness to expand stimulus as early as next month by issuing a stronger warning of overseas risks threatening the export-reliant economy. "Japanese stocks have risen a lot recently, so I expect an adjustment lower next week, but that would be a chance to buy the dip," said Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co in Tokyo.
Global stocks traded mixed again Friday, with tax and interest rate cuts boosting markets in Asia, but Wall Street look set to open flat as investors debate the Federal Reserve's next policy move and look for progress from the current round of U.S.-China trade talks.
An index of global stock markets surrendered early gains on Friday after Chinese agriculture officials who were to visit U.S. farm states next week cancelled their trip, dampening optimism on U.S.-China trade talks. Renewed worries about the state of the ongoing trade tensions between Washington and Beijing drove Treasury yields lower and pushed the U.S. dollar down against the safe-haven Japanese yen. The cancellation came as U.S.-Chinese trade talks were held in Washington and U.S. President Donald Trump said he wanted a complete trade deal, not just an agreement for China to buy more U.S. agricultural goods.
(Bloomberg) -- U.S. equities ended the day near where they started as investors failed to find a catalyst to lift the benchmark stock index to an all-time high. The dollar sank and Treasuries rose amid a slew of fresh monetary-policy decisions.The S&P 500 Index closed little changed, within 1% of a record, as gains in software companies offset losses for carmakers. After getting a boost from positive comments on trade by White House economic adviser Larry Kudlow early in the day, equities took a leg down after a report about a U.S. official threatening steeper tariffs against China. The yen, pound and Swiss franc led Group-of-10 currency gains after their respective central banks left borrowing rates unchanged.The slate of monetary policy decisions, hot on the heels of the Federal Reserve’s interest-rate cut Wednesday, comes just as the OECD cut its world growth forecast to 2.9% from 3.2% as intensifying trade conflicts take a toll on confidence. Investors continue to focus on the outlook for negotiations between the U.S. and China as trade deputies from both nations meet.Elsewhere, banks pushed the Europe Stoxx 600 higher. Treasuries advanced while European government bonds slipped. Shares fell in Hong Kong and nudged up in Shanghai. China’s yuan dropped as traders weighed the odds of the People’s Bank of China lowering borrowing costs. Australia’s dollar slumped after the unemployment rate rose.Oil gained amid contrasting reports about whether Saudi Arabia asked Iraq for crude to supply its domestic refineries.These are some key events to keep an eye on this week:Friday is quadruple witching day for U.S. markets. When the quarterly expiration of futures and options on indexes and stocks occurs on the same day, surging volatility and trading can follow.Here are the main moves in markets:\--With assistance from Laura Curtis.To contact the reporter on this story: Brendan Walsh in Austin at firstname.lastname@example.orgTo contact the editors responsible for this story: Jeremy Herron at email@example.com, Brendan Walsh, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Target and Microsoft stock were early leaders and Herman Miller scored a breakout, while the S&P; 500 and Dow Jones today aimed to turn the week positive.
World share markets and bond yields nudged modestly higher on Thursday as the U.S. Federal Reserve's second interest rate cut of the year and promises of support from other top central banks kept global recession jitters at bay. The effects of the trade war has seen monetary policy swing back into support mode this year, but the Fed's central message on Wednesday was that it wasn't expecting a major capitulation of the economy. Japan and Switzerland then kept their deeply negative interest rates on hold.
The major Asia Pacific stock indexes are mostly higher in the wake of interest rate and policy decisions from the U.S. Federal Reserve and the Bank of Japan.
Japanese shares rallied to close in on this year's peaks on Thursday, with domestic demand-led shares leading gains after a rate cut by the U.S. Federal Reserve helped boost risk sentiment. The market's gains were trimmed after the Bank of Japan kept its policy on hold, a widely expected decision but still disappointing some players who had bet the BOJ to act in-step with the Fed and the European Central Bank in easing. High-yielding power company shares were also bought after the U.S. interest rate cut.
Asian shares extended declines on Thursday after the U.S. Federal Reserve signalled a higher bar to further easings, while the Bank of Japan also held off from offering more stimulus as some had hoped. Earlier in the day, the BOJ kept policy steady as expected, though there were some expectations the Japanese central bank would ramp up its already massive stimulus. Asian equities were already on the back foot after Fed Chairman Jerome Powell took a more guarded approach to any further reductions in borrowing costs.
A gauge of global equity performance edged higher on Thursday, a day after the Federal Reserve cut interest rates, but crude oil prices climbed higher on concerns last weekend's attacks on Saudi Arabia's oil facilities pose supply risks. Iran warned U.S. President Donald Trump against being dragged into all-out war in the Middle East after the attacks, which Washington and Riyadh blame on Tehran. About half of Saudi crude production was disabled, putting severe limits on the country's spare capacity, a cushion for global oil markets if an outage occurs.
(Bloomberg) -- The dollar rallied and Treasuries pared gains as Federal Reserve policy makers cast doubt on the need for further easing after lowering their main interest rate for a second time this year. Stocks erased losses as financial companies that benefit from higher rates rallied.The S&P 500 Index ended little changed, wiping out a drop that at one point reached the biggest in four weeks, as Fed Chair Jerome Powell promised at a press conference to be vigilant against any signs of economic slowdown. Banks were the best performers. Ten-year Treasury yields dipped just below 1.8%.While Fed policy makers were widely expected to reduce their benchmark rate by a quarter-point, investors were more focused on the outlook for further cuts this year. Five officials think the rate at year end should be higher than it is after today’s cut, five wanted the rate cut today but are not projecting any more cuts, and seven are projecting one more quarter-point cut by December.“I view the guidance we received as mixed,” said Eric Winograd, senior U.S. economist at AllianceBernstein. “They want to stop the economy from slipping into a recession but aren’t going to do anything to push growth higher.”Elsewhere, FedEx Corp. tumbled after the company slashed its profit outlook, blaming a global economy weakened by trade tensions. Stocks were mixed in Asia. Europe’s equity benchmark barley budged. Precious metals fell.Oil ticked lower after tumbling Tuesday, when Saudi Aramco said it had revived 41% of capacity at a key crude-processing complex days after a devastating aerial attack that wrecked vital equipment and rocked global energy markets.These are some key events to keep an eye on this week:The Bank of Japan monetary policy decision is Thursday, followed by a briefing from Governor Haruhiko Kuroda.Bank Indonesia and Bank of England also decide policy Thursday.Australia jobs figures are out Thursday.Friday is quadruple witching day for U.S. markets. When the quarterly expiration of futures and options on indexes and stocks occurs on the same day, surging volatility and trading can follow.Here are the main moves in markets:StocksThe S&P 500 Index was little changed at the close of trading in New York.The Stoxx Europe 600 Index was little changed.The MSCI Emerging Market Index advanced 0.2%.The Nikkei-225 Stock Average fell 0.2%CurrenciesThe Bloomberg Dollar Spot Index increased 0.2%.The British pound fell 0.1% to $1.2493.The euro declined 0.3% to $1.1035.The Japanese yen fell 0.3% to 108.4 per dollar.BondsThe yield on 10-year Treasuries fell one basis point to 1.79%.Germany’s 10-year yield fell four basis points to -0.51%.Japan’s 10-year yield slipped three basis points to -0.20%CommoditiesWest Texas Intermediate crude fell 2.1% to $58.11 a barrel.The Bloomberg Commodity Index decreased 0.5%.Gold fell 0.4% to $1,495.14 an ounce.\--With assistance from Adam Haigh, Todd White, Robert Brand and Nancy Moran.To contact the reporters on this story: Brendan Walsh in Austin at firstname.lastname@example.org;Vildana Hajric in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Earnings news sent Adobe and FedEx lower Wednesday. Insurer Travelers dragged on the Dow Jones today, ahead of the Fed policy decision.
In a well-strategized move, Apple (AAPL) is relocating its production base to India. Apple's investment in India will be around $1 billion.
Crude oil prices plunged on Tuesday after the Saudi energy minister said the kingdom’s oil supply will soon be back online. The drop in crude oil prices spread weakness throughout the Asia Pacific region on Wednesday.
Global stocks traded cautiously Wednesday, with investors focused on both the U.S. Federal Reserve's September rate decision later today in Washington and the impact of last weekend's attacks on two key Saudi oil facilities on world crude markets.
Japan's Nikkei share average was little changed but continued to hover near its four-month high on Wednesday, with investors awaiting fresh catalysts ahead of key central bank meetings in the United States and Japan. Investors broadly remained on the sidelines ahead of key policy decisions by the U.S. Federal Reserve due later Wednesday and the Bank of Japan (BoJ) on Thursday. The Fed is expected to cut interest rates, but while a 25-basis point cut is seen as near-certain, investors will look to the statement and economic projections from Fed policy makers, given that there have been signs recently of deep disagreements among them.
The S&P 500 and the Dow reversed losses to close higher on Wednesday and U.S. Treasury yields slipped after remarks by Federal Reserve Chair Jerome Powell tempered the market's initial reaction to the U.S. central bank's policy statement. All three major U.S. stock indexes initially extended earlier losses following the release of the Fed's policy decision after the close of a two-day meeting, which dimmed hopes for further rate cuts and fell short of the more aggressive reduction in borrowing costs that President Donald Trump had demanded.
U.S. stocks finish Tuesday’s session with modest gains on the back of defensive bets as investors focus on a decision on interest rates from the Federal Reserve set for Wednesday after a weekend attack in the Middle East that roiled global energy markets.
Home Depot stock weighed on the Dow Jones today and oil prices eased somewhat after Monday's spike.
Japan's Nikkei share average inched up to a 4-1/2-month closing high on Tuesday, as soaring oil prices triggered by attacks on Saudi crude facilities boosted oil and gas-related companies. Market players said risk appetite had not been affected in spite of Saturday's attack on Saudi oil facilities. Oil and gas-related companies led gains, with mining and oil & coal products the top two performing subsectors on Tokyo's main bourse, jumping 9.0% and 4.5%, respectively.
Global stocks edged lower again Tuesday, following one of the biggest single-day declines in oil prices on record, as investors adopted a cautious stance on risk ahead of the Federal Reserve's two-day rate-setting meeting and the start of formal U.S.-China trade talks later this week.