|Day's Range||21,348.67 - 21,418.24|
|52 Week Range||18,948.58 - 24,448.07|
Shares in Japan, Hong Kong and Korea retreated and Australian equities edged higher after weaker than expected data from Europe and the U.S. reignited worries about the world economy. U.S. durable goods orders were below expectations and home sales missed estimates. President Donald Trump plans to meet with China’s top trade negotiator Friday afternoon as the U.S. tries to forge a preliminary deal with its biggest economic rival, two people familiar with the matter said.
Shares in Asia were flat in early trade on Friday following a fall on Wall Street, with a deteriorating global economic outlook outweighing more signs of progress in trade talks between China and the United States. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent. Australian shares gained 0.5 percent and Japan's Nikkei stock index was 0.3 percent lower.
Stocks in Asia declined Friday morning following weak U.S. economic data overnight as officials from the Trump administration continue ongoing trade discussions with their Chinese counterparts.
U.S. stocks fell in thin trading, while Treasuries also declined as investors grappled with concerns about economic growth and the latest twists in global trade. The S&P 500 dropped for the first time in four sessions after economic data in both Europe and U.S. came in below expectations, reigniting worries about the world economy. Health-care stocks were pulled down as Johnson & Johnson dropped after the company said it received subpoenas from federal prosecutors tied to its talc baby-powder products.
U.S. stocks were set to make cautious gains Thursday, despite downbeat sessions elsewhere, as investors awaited fresh economic data and the latest round of U.S.-China trade talks. Futures put the Dow Jones Industrial Average and S&P 500 both up 0.2% and Nasdaq-100 futures 0.3% higher. Bunge, Kraft Heinz, Caesars Entertainment and Baidu will also be in focus with the companies due to report earnings.
The ongoing trade negotiations between the United States and China remain the “main focus” for markets and are likely to “provide the next catalyst for a strong move in sentiment,” Rakuten Securities Australia said in a morning note, following the release of the U.S. Federal minutes at 19:00 GMT.
An index of stocks across the globe hit a more than four-month high on Wednesday on hopes for progress in trade talks between the United States and China, and a supportive backdrop from major central banks also helped push risk assets higher. Crude prices rose to their 2019 highs helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela. Stocks started with a rally in Asia that pushed the MSCI world equity index to its highest since October after U.S. President Donald Trump said negotiations with China were going well and suggested he was open to extending the deadline to complete them beyond March 1.
The offshore Chinese Yuan rallied sharply higher on Tuesday after Bloomberg News reported that the U.S. is requesting that China keep the Yuan stable as part of the trade deal. The move would be aimed at mediating any effort by the Chinese to devalue the Yuan to counter American tariffs, people familiar with the situation told Bloomberg News.
Major Asian stock markets mostly closed higher. Also on Tuesday, a report said the U.S. is requesting that China keep the yuan stable as part of the trade deal. Major Asian stocks markets mostly closed higher on Wednesday, after U.S. President Donald Trump hinted once again that a closely watched trade deadline in March may be pushed back.
Gold prices rose to a 10-month high on Tuesday as concerns over a global economic slowdown spurred a safe-haven bid and were also supported by a weaker U.S. dollar, which fell on optimism for a breakthrough in U.S.-China trade talks. A gauge of global stock markets rose modestly along with gains on Wall Street, while Europe sagged under falling bank shares and concerns that a car tariff could hurt the region's exports to the United States. Traders kept a close eye on the new round of talks between the United States and China to resolve their trade spat.
Major stocks markets in Asia were mixed on the day. The White House said on Monday that trade talks between the two economic powerhouses will continue in Washington on Tuesday, with higher level negotiations starting later in the week. Meanwhile, Beijing said Monday that the U.S. is attempting to curtail its technology development by claiming that Chinese mobile network gear might pose a cybersecurity threat to foreign countries which adopt the equipment.
Stocks in Europe advanced after a rally in Asia drove the region’s shares to their highest level since October amid optimism over China’s economic growth and trade talks. Commodities from oil to copper jumped. The Stoxx Europe 600 closed higher following a choppy morning as gains by telecommunications companies offset declines in carmakers, after President Donald Trump received a report that may be a preliminary step to raising tariffs on auto imports.
Hopes for progress in Sino-U.S. trade talks and expectations of policy stimulus from central banks lifted world stocks to 2 1/2- month highs on Monday, though European gains were held back by concern over the outlook for auto makers. MSCI's All-Country World Index rose 0.4 percent after Japan's Nikkei closed up 1.8 percent at its high for the year and MSCI's index of Asian equities rose almost 1 percent. Negotiations will resume this week, with U.S. President Donald Trump saying he may extend a March 1 deadline for a deal.
President Trump said at a White House news conference that Washington was closer than ever before to “having a real trade deal” with Beijing and that he would be “honored” to remove tariffs if an agreement can be reached. He added, however, that the talks were “very complicated.”
Risk appetite delivers early moves across the riskier asset classes. With a light economic calendar, vehicle sales out of China will be of interest.
Shares in mainland China were among the biggest gainers on Monday. Stocks in other major Asian stock markets also closed higher. The U.S. and China are set to continue trade negotiations in Washington this week.
A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralize power at the top level, the Nikkei business daily reported on Sunday. Under Nissan's current corporate charter, the position of board chair is automatically appointed to head the company board, the Nikkei said citing a source. Former Chairman Carlos Ghosn had filled both roles prior to his arrest in November for under-reporting his salary for eight years.
Equities surged to a 10-week high as the U.S. consumer outlook brightened and positive developments in China trade talks overshadowed lingering concerns about global growth. The S&P 500 Index closed at session highs Friday, with all sectors gaining, on reports that the U.S. and China had reached consensus in principle on the main topics in their trade negotiations. U.S. consumer sentiment rebounded from a two-year low, further fueling the rally and bolstering the case that yesterday’s dire retail sales figures were out of sync with reality.
European shares recovered on Friday after weak U.S. and Chinese economic data earlier sent global equity markets into a dive. The 10-year U.S. Treasuries yield fell to 2.6483 percent, wiping out most of its rise this week.
Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors also await developments from the ongoing ...
U.S. stocks edged lower in listless trading as disappointing economic data and reports the president will declare a national emergency overshadowed news that another government shutdown will be averted. Signs Congress would avert another shutdown boosted sentiment midday and shares drifted until the late slide that came with news that President Donald Trump intends to sign a government funding bill and simultaneously declare a national emergency to get more money for a border wall. Bank stocks were among the hardest hit, as the 10-year Treasury yield briefly sank below 2.65 percent.
Trade-related optimism supports global stock indices while weak data in the US sends the USD moving lower versus major world currencies.
(Bloomberg) -- There is not much to be enthusiastic about when it comes to Europe. Sluggish growth, low inflation, political instability, Brexit and trade wars are part of a long list that doesn’t inspire optimism, let alone confidence. After Germany narrowly managed to dodge the recession bullet, it remains to be seen whether the old continent is capable of bouncing back.
With the start of high-level trade talks between the United States and China, Asian market traders are taking a cautious approach to the stock market on Thursday. However, under the cautiousness, there is some optimism. China released better-than-expected January trade balance data early Thursday. The news seemed to have a positive effect on the Australian and New Zealand Dollars, but failed to add to this week’s strength in the major Asian stock markets.