(Bloomberg) — Asian stocks were poised to climb Monday after a gauge of global equities extended its one-year high and the S&P 500 rose to the cusp of a bull market. Oil rallied on a supply cut from Saudi Arabia.
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Crude jumped about 2.5% on the pledge to make an extra 1 million barrel-a-day reduction in July, which trims Saudi Arabia’s production to the lowest level for several years.
Equity futures for Japan, Australia and Hong Kong all rose more than 1%, suggesting early advances in shares around the region.
Contracts for the S&P 500 were little changed in Asia after further gains Friday that were fueled by big tech, options positioning and bets for a Federal Reserve rate pause this month. Nasdaq 100 futures fell 0.3%.
A mixed jobs report shaped the wagers on the Fed, with signs of labor-market slackening in May despite a pickup in hiring. That bolstered the argument from Fed Chair Jerome Powell and other officials that they should take more time to assess incoming data and the evolving outlook before raising rates again.
Two-year Treasury yields, which are more sensitive to imminent central bank moves, jumped 16 basis points to 4.5% Friday. Australia’s three-year government bond yields jumped about 10 basis points following the move in Treasuries and ahead of a central bank rates decision Tuesday.
The euro, the pound and the Australian dollar edged lower while the yen weakened to around 140 versus the greenback. A gauge of dollar strength was fractionally higher.
As stocks rose in the US on Friday, Wall Street’s “fear gauge” plummeted to pre-pandemic levels. The Cboe Volatility Index, or VIX, dropped below 15 from an average of 23 in the past year.
Broadcom Inc. climbed after predicting that sales tied to artificial intelligence will double this year.
“The impressive run for equities continues to drive retail investors into the market,” said Mark Hackett, chief of investment research at Nationwide. “Investors have spent much of the past three years obsessed by the Fed, inflation, and payrolls, though volatility around those reports has settled, reflecting a less emotional market. This is bullish, as less reactivity is a sign of a healthy market.”
The stock advance doesn’t mean the market isn’t facing headwinds, according to Quincy Krosby, chief global strategist at LPL Financial.
Among the risks, she cites the potential ramifications of the deluge of Treasury notes — approximately $1 trillion — to be auctioned as the US department replenishes its general account following a debt-limit deal. that could ignite a significant sapping of liquidity from financial markets, she noted.
Evenimente cheie în această săptămână:
China Caixin services PMI, Monday
Eurozone S&P Global Eurozone Services PMI, PPI, Monday
US factory orders, ISM services, Monday
ECB President Christine Lagarde appears in European Parliament, Monday
Rate decisions in Australia, Poland, Tuesday
China forex reserves, trade, Wednesday
US trade, consumer credit, Wednesday
Decizia privind tariful Canada, miercuri
EIA crude oil inventory data, Wednesday
Eurozone GDP, Thursday
Rate decisions in India, Peru, Thursday
Japan GDP, Thursday
US wholesale inventories, initial jobless claims, Thursday
China PPI, CPI, Friday
Unele dintre principalele mișcări de pe piețe:
Stocuri
Contractele futures S&P 500 au fost puțin modificate începând cu ora 8:28, ora Tokyo. S&P 500 a crescut vineri cu 1.4%.
Contractele futures Nasdaq 100 au scăzut cu 0.2%. Nasdaq 100 a crescut cu 0.7%
Contractele futures Nikkei 225 au crescut cu 1.3%
Contractele futures pe indicele S&P/ASX 200 din Australia au crescut cu 1.1%
Contractele futures pe indicele Hang Seng au crescut cu 1.1%
Valute
Indicele Bloomberg Dollar Spot a fost puțin schimbat
Euro a fost puțin schimbat la 1.0699 dolari
Yenul japonez a scăzut cu 0.2%, până la 140.19 pe dolar
Yuanul offshore a fost puțin modificat, la 7.1107 pe dolar
Dolarul australian a scăzut cu 0.2%, la 0.6600 dolari
Cryptocurrencies
Bitcoin a scăzut cu 0.2%, până la 27,185.14 USD
Ether a scăzut cu 0.7% la 1,890.56 USD
Obligațiuni
Mărfuri
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– Cu ajutorul Ritei Nazareth.
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Source: https://finance.yahoo.com/news/asian-stocks-oil-support-currencies-223438590.html