|Day's Range||3,031.54 - 3,062.18|
|52 Week Range||2,191.86 - 3,393.52|
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Global stocks followed Wall Street higher as investors brushed off rising tension between the US and China and the prospect of troops being deployed to quell violent unrest on America’s streets. China’s CSI 300 index of Shanghai- and Shenzhen-listed shares rose 0.3 per cent after the central bank said it had earmarked Rmb400bn ($56bn) to temporarily purchase small business loans from banks, as part of measures to support lenders hit by the coronavirus outbreak. Overnight on Wall Street the S&P 500 closed 0.4 per cent higher, extending a rally that has positioned the stock benchmark less than 10 per cent from its all-time high.
(Bloomberg) -- Equity futures traded mixed and Asian stocks advanced Tuesday as investors looked past prospects for the deployment of the U.S. military to quell social unrest.Benchmarks in Tokyo outperformed, while gains were more muted in Seoul, Sydney and Hong Kong. S&P 500 contracts came off their lows hit after President Donald Trump promised to deploy large numbers of troops if cities and states don’t act to contain violence from protests over police brutality. Earlier, the S&P 500 saw a modest advance. A closely watched measure of U.S. manufacturing rose in May for the first time in four months. The dollar and Treasuries were steady.Global stocks are trading at a three-month high as businesses reopen around the world following coronavirus shutdowns. Euro-area data on Monday also signaled factories have started down their long road to recovery. Risk appetite returned even amid tense U.S.-China relations that may jeopardize a hard-won trade deal.“May’s data suggested the worst of the contraction may be behind us, but we see a bumpy restart in coming months,” BlackRock Investment Institute strategists led by Mike Pyle said in a report.Investors mostly looked past the sometimes violent demonstrations across U.S. cities, over the killing of George Floyd, an unarmed black man, by police. Meanwhile, New York has imposed a curfew amid mass protests that led to looting and violence.Elsewhere, oil steadied as investors assessed whether OPEC and its allies will extend the supply curbs that helped drive prices higher. The Australian dollar pared a decline and bonds were little changed after the Reserve Bank of Australia left its cash rate unchanged as expected, and said it remained committed to an accommodative approach as long as need.Indian equities rose for a fifth day even after Moody’s Investors Services cut the nation’s credit rating to the lowest investment grade level late Monday, a move largely expected by markets.Here are some key events coming up:In Europe, the ECB is expected to top up its rescue program with an additional 500 billion euros of asset purchases at a meeting on Thursday. Anything less than an expansion would be a big shock, Bloomberg Economics said.The U.S. labor market report on Friday will probably show American unemployment soared to 19.6% in May, the highest since the 1930s.These are the main moves in markets:StocksS&P 500 futures fell 0.1% as of 7 a.m. in London. The S&P 500 rose 0.4% at the close of trading in New York.Topix index rose 1.2%.Australia’s S&P/ASX 200 Index rose 0.5%.South Korea’s Kospi index rose 1%.Hong Kong’s Hang Seng Index rose 0.6%.Shanghai Composite added 0.3%.Euro Stoxx 50 futures rose 0.6%.CurrenciesThe Bloomberg Dollar Spot Index was little changed after declining 0.7%.The yen traded at 107.69 per dollar, little changed.The offshore yuan was at 7.1288 per dollar, little changed.The euro was little changed at $1.1134.BondsThe yield on 10-year Treasuries held at 0.66%.Australia’s 10-year bond yield rose one basis point to 0.91%.CommoditiesWest Texas Intermediate crude rose 0.7% to $35.68 a barrel.Gold was little changed at $1,738.27 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares were mostly higher in Asia on Tuesday, lifted by moves to reopen many regional economies from shutdowns aimed at containing the coronavirus pandemic.
Dow Jones futures were down late Monday. Tech giants Apple, Netflix and Tesla were in new buy zones, while Domino's Pizza broke out.
U.S. stock-index futures were indicating lower trading for stock benchmarks on Tuesday as President Donald Trump said he would deploy military personnel across cities facing protests if state governors and local officials prove unable to contain civil unrest erupting across the nation.
John Bartlett at the Reaves Utility Income fund selects companies with high returns on equity from expansion or improvement projects.
Hampering broader global risk appetite, however, was U.S. President Donald Trump's vow to use force to end violent protests in American cities, which kept Wall Street stock futures negative in Asia. MSCI's broadest index of Asia-Pacific shares outside Japan, which had its best day in two months on Monday, extended its rally without panache - rising 0.3%. The week had begun with a surge in riskier currencies and global equities after Trump's response to China's tightening grip on Hong Kong - with threats, not tariffs - was seen lowering the temperature of Sino-U.S. tension.
Hampering broader global risk appetite, however, was U.S. President Donald Trump's vow to use force to end violent protests in American cities, which kept Wall Street stock futures negative in Asia. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS>, which had its best day in two months on Monday, extended its rally without panache - rising 0.41%. European stocks were headed for a strong start with the pan-region EUROSTOXX 50 futures <STXEc1> up 0.71%, FTSE futures <FFIc1> gaining 0.52% and German DAX futures <FDXc1> up 0.59% in Asian afternoon trade.
U.S. stock-index futures headed lower in thin trading Monday evening as President Donald Trump said he would deploy military personnel across cities facing protests if state governors and local officials prove unable to contain civil unrest erupting across the nation. "I am dispatching thousands and thousands of heavily armed soldiers," Trump said on Monday at the White House, according to news reports. "If a city or state refuses to take the actions necessary to defend the life and property of their residents, then I will deploy the United States military and quickly solve the problem for them," Trump said, at a news conference late Monday. Futures for the Dow Jones Industrial Average were down 138 points, or 0.5%, at 25,327, those for the S&P 500 index were off 0.5% at 3,039, while Nasdaq-100 futures were off 0.3% at 9.568. Major cities from Los Angeles to New York have been engulfed in nightly protests after George Floyd, a black man, died last Monday following a confrontation with police in Minneapolis in which a white police officer, Derek Chauvin, was captured on video driving his knee onto Floyd's neck until the handcuffed man lost consciousness and later died. Curfews were announced Monday for Minneapolis and St. Paul, while New York's Gov. Andrew Cuomo placed New York City under curfew Monday night, for the first time in about eight years. However, the stock market has mostly trended higher as optimists focus on efforts by businesses to emerge from lockdown protocols implemented to curtail the spread of COVID-19. The Dow finished regular trade on Tuesday 91.91 points, or 0.4%, higher at 25,475.02, after trading negative at the start of Monday's session. The S&P 500 rose 11.42 points, or 0.4%, to end at 3,055.73; while The Nasdaq Composite added 62.18 points, or 0.7%, to close at 9,552.05. All 50 states have embarked on some stage of reopening from forced shutdowns. Meanwhile, a report from the Congressional Budget Office released on Monday, said the recessionary atmosphere triggered by the coronavirus caused it to lower its 2020-30 forecast for U.S. economic output by almost $8 trillion, or 3% of gross domestic product, relative to its January projections. GDP isn't expected to catch up to the previously forecast level until the fourth quarter of 2029, the CBO added. Investors have also been paying attention to rising Sino-American tensions, with Chinese government officials telling major state-run agricultural companies to pause purchases of some American farm goods, including pork and soybeans, according to reports.
Stock futures opened roughly flat Monday evening, as investors eyed stabilizing economic data alongside ongoing protests across the country, which spurred some concerns of a ramp-up in coronavirus cases following a deescalation in the outbreak.
Economic impact payments would cover less than half of the average family’s monthly expenses, a new study found.
The U.S. is experiencing painful civil unrest in the aftermath of the Memorial Day killing of George Floyd. Yet the stock market hasn’t reacted to any of the tragic events yet.
Investors enjoyed modest gains on Wall Street to start the new week, with the markets reacting favorably to a lack of news on the geopolitical front. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) were all up in the neighborhood of half a percent. Amyris (NASDAQ: AMRS) and Coty (NYSE: COTY) aren't household names, but they made their shareholders a lot happier today.
U.S. stocks booked modest gains Monday, after retracing losses earlier in the session, as the potential for an economic rebound overshadowed strife in American cities that has led to chaos and curfews.
The Dow Jones Industrial booked its first gain of the past three sessions on Monday to start trading for the week and month of June. Markets appeared to be heartened by upbeat data from the Institute for Supply Management, whose manufacturing index for May rose to 43.1 from an 11-year low of 41.5 in April. A reading above 50.0 indicates an increase in activity, while a one below that level indicates contraction. The report indicated to many investors that the worst of the economic problems from closures induced by COVID-19 may be reaching a peak. The Dow rose nearly 92 points, or 0.4%, at 25,475, the S&P 500 index climbed 0.4% at about 3,056, while Nasdaq Composite Index advanced 0.7% at around 9,552. Markets appeared to focus on reopenings from the lockdowns that were intended to limit the spread of the novel strain of coronavirus, which appeared to overshadow protests over the weekend centered on the death of George Floyd, a black man who died under the knee of a white police officer last week in Minnesota. On the international front, Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods, including pork and soybeans, Reuters and Bloomberg News reported on Monday, citing people familiar with the matter. In corporate news, Pfizer shares fell 7.2% after the drugmaker said it would halt a study on a potential breast-cancer treatment.
Stocks turned positive Monday morning, steadying against a backdrop of protracted protests in some of the nation’s largest cities, many of which had already been struggling to reopen amid the coronavirus outbreak.
(Bloomberg) -- U.S. stocks rose as investors focused on signs of economic recovery amid further tension with China, lackluster virus drug-test results and spreading protests over the killing of George Floyd, an unarmed black man, by police. The dollar slumped.The tech-heavy Nasdaq Composite outperformed as a closely watched measure of U.S. manufacturing rose in May for the first time in four months, suggesting stabilization after a pandemic-driven plunge. Gunmakers rallied in the aftermath as the protests were marred by violence. Gilead Sciences Inc. fell after its drug remdesivir showed only a limited benefit in a large trial.Risk assets showed signs of resilience Monday after stocks had dipped earlier in the day following reports that Chinese officials had told agricultural companies to pause purchases of some U.S. farm goods, threatening a hard-won trade deal. Metals and emerging-market equities advanced along with shares in Europe and Asia.Investors mostly looked past the weekend of sometimes violent demonstrations across U.S. cities, highlighting what many see as the disconnect between Wall Street and Main Street. Stocks are near a three-month high as businesses reopen following shutdowns caused by the coronavirus, even with 40 million Americans having filed for unemployment benefits.“Progress on the road to an economic recovery could help offset pressure on the equity market from near-term challenges stemming from geopolitical, health, and societal risks,” John Stoltzfus, chief investment strategist at Oppenheimer, wrote to clients.Goldman Sachs Group Inc. said the U.S. labor market is showing the earliest signs of rebounding. China’s Caixin purchasing managers’ index for manufacturing rose above 50 May, indicating an expansion. Euro-area data on Monday also signaled factories have started down their long road to recovery.Here are some key events coming up:In Europe, the ECB is expected to top up its rescue program with an additional 500 billion euros of asset purchases at a meeting on Thursday. Anything less than an expansion would be a big shock, Bloomberg Economics said.The U.S. labor market report on Friday will probably show American unemployment soared to 19.6% in May, the highest since the 1930s.These are the main moves in markets:StocksThe S&P 500 Index rose 0.4% at the close of trading in New York.The Stoxx Europe 600 Index climbed 1.1%.Hong Kong’s Hang Seng Index increased 3.4%.The MSCI Asia Pacific Index increased 1.8%.CurrenciesThe Bloomberg Dollar Spot Index declined 0.7%.The euro rose 0.3% to $1.1133.The British pound gained 1.3% to $1.2503.The Japanese yen strengthened 0.2% to 107.6 per dollar.BondsThe yield on 10-year Treasuries rose one basis point to 0.66%.Germany’s 10-year yield increased four basis points to -0.41%.Britain’s 10-year yield climbed five basis points to 0.23%.CommoditiesWest Texas Intermediate crude rose 0.3% to $35.59 a barrel.Gold strengthened 0.6% to $1,740.17 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investors still have plenty of space in their portfolios to buy equities despite the S&P 500’s more than 30% rally from its mid-March low.