Stocks Struggle Before US Midterms; Dollar Rises: Markets Wrap

Stocks Struggle Before US Midterms; Dollar Rises: Markets Wrap

Stocks Struggle Before US Midterms; Dollar Rises: Markets Wrap

-China trade deal receded. Shares in Asia slid following Friday's rally and after White House economic adviser Larry Kudlow downplayed the potential for a quick deal between the US and China. The pound strengthened a third day in four on signs of further progress in Brexit negotiations.

The S&P 500 Index rose 0.4 percent as of 10:26 a.m.

Futures on the Dow, S&P 500 and Nasdaq swung from a loss to a gain and back, while advances in telecom and healthcare companies helped the Stoxx Europe 600 Index stay in the green in relatively thin trading.

For this week, the main concern in global markets will continue to remain politics and central banks.

Politics loom large for traders as USA congressional elections, seen as a referendum on the policies of President Donald Trump, take place Tuesday. Though officials are expected to keep the benchmark rate unchanged at their penultimate 2018 meeting Thursday, clues will be sought for moves into 2019.

Elsewhere, oil was on track for a sixth day of declines as sanctions on Iran oil snap back into place Monday.


The Bloomberg Dollar Spot Index declined 0.1 percent.The euro advanced 0.1 percent to $1.1417.The Japanese yen fell 0.1 percent to 113.28 per dollar.The British pound added 0.3 percent to $1.3079, the strongest in nearly three weeks.The MSCI Emerging Markets Currency Index was little changed.

Japan's Topix index fell 0.6 per cent as of 11:22am in Tokyo.

Hong Kong's Hang Seng Index fell 1.7 per cent while the Shanghai Composite Index was down 0.2 per cent.

Government bonds in Europe and the US were mixed, but mostly little changed.

In the bonds market, the yield on the 10-year Treasury in the United States dropped to 3.19%, Germany's 10-year Treasury yields remained nearly the same at 0.42% and the UK's 10-year yield went up to 1.5%. West Texas Intermediate crude lost 0.7 per cent to US$62.68 a barrel. The offshore yuan slipped 0.1 per cent to 6.9025 per dollar. The euro traded at US$1.1388 while the pound gained 0.1 per cent to US$1.2988.

Noticias relacionadas



[an error occurred while processing the directive]