(Bloomberg) – Most Asian stocks were acquired after U.S. stocks rallied as investors focused on earning prospects amid the economic recovery. Treasuries have advanced.
Japan outperformed, while Hong Kong and Australia had more modest gains. US futures went lower, while European futures rose. Yields in the treasury fell, and for the first time in November, ten years fell below the 50-day moving average. The dollar was stable. Oil added losses by increasing U.S. crude oil inventories, raising concerns about the volatile recovery in global demand.
Earlier, most of the major groups in the S&P 500 grew, whose shares were raw materials, energy and finance. The small cap meter climbed by more than 2%, surpassing the major benchmarks.
Retailers are searching corporate results for signs of whether the expected jump in profits will bring with them forecasts for stronger growth. Shares have declined due to concerns about the outbreak of coronavirus cases around the world that could jeopardize the economic recovery, especially with stocks trading close to their highest levels.
“There is strong potential for further stock growth, especially as we move through the earnings season and begin to provide more and more forecasts for the look of the coming year,” said Erin Browne, Pacific Multiple Asset’s multi-asset portfolio. manager, he said on Bloomberg TV. “While investors are certainly priced a lot in terms of normalization in certain market segments, I still think there is room to run.”
Meanwhile, the European Central Banks are meeting on Thursday and their policy is expected to remain unchanged, confirming that the purchase of assets under its pandemic program will proceed at a faster pace until June. The meeting will be of particular interest after the Bank of Canada became the first major central bank to signal that it would reduce asset purchases and move its expected timeframe for potential rate increases.
Here are some key events to watch this week:
The decision on the rate of the European Central Bank and the briefing of President Christine Lagarde on Thursday.US on Friday announces new data on the sale of houses.
Here are some of the main moves in the markets:
S&P 500 futures fell 0.1% from 7 am in London. The S&P 500 rose 0.9%. The Topix index rose 1.8%. The S&P / ASX 200 index in Australia added 0.7%. The Kospi index rose 0.2%. The Han Seng index rose 0.5%. The Shanghai Composite Elements Index rose 0.6%.
The yen changed slightly to 107.99 for the dollar. In June, foreign trade traded at 6.4835 per dollar, an increase of 0.1%. The Bloomberg index of dollar points has changed little. The euro changed slightly to $ 1.2034.
The yield on ten-year state treasuries fell by about two basis points to 1.54%. Australian ten-year bond yields fell three basis points to 1.71%.
West Texas crude fell 0.5% to $ 61.03 a barrel. Gold slipped 0.2% to $ 1,790.94 an ounce.
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