Latest news with #EUROSTOXX50
Yahoo
2 days ago
- Business
- Yahoo
German markets steady as investors await inflation data
Investors on the German stock market remained cautious on Friday, as they awaited inflation figures from Germany and developments surrounding the US tariff policy. A public holiday in Germany the previous day is likely to slow trading, with many investors enjoying a long weekend. The leading German stock exchange index, the DAX, climbed 0.19% to 23,978.18 points shortly after the start of trading on Friday. The second-tier MDAX of medium-sized companies remained virtually unchanged at 30,698.45 points. The eurozone's leading index, the EURO STOXX 50, fell slightly. This followed the DAX's previous record run to almost 24,326 points in the middle of the week, after which some investors cashed in during thin holiday trading on Thursday. Observers are now focusing on economic data, with experts awaiting the May inflation figures from Germany's Federal Statistical Office at 2 pm (1200 GMT). "This information is important in view of next week's ECB [European Central Bank] Governing Council meeting," experts from the Landesbank Helaba said in their morning commentary. The ECB is set to make a decision on interest rates at the meeting on Thursday. Price data from the United States will also be released shortly after the German inflation figures. Court rulings on the US government's tariff policy have muddied the situation on the financial markets, according to the Helaba experts. "A large proportion of the tariffs have been declared invalid and blocked, but an appeals court has now reinstated the easures, for the time being. The situation remains tense," they said. Investors on Wall Street, however, were largely unfazed by the legal wrangling. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
5 days ago
- Business
- Mint
Shares mixed, dollar struggles on Trumps chaotic tariffs
SINGORE -Shares were mixed on Tuesday as U.S. President Donald Trump's postponement of his threatened 50% duties on European Union shipments reinforced the unpredictability of his trade policies and kept investor sentiment fragile. Wall Street futures and FTSE futures were up sharply in the Asian session, following a holiday in the U.S. and the UK at the start of the week, though shares elsewhere reversed their short-lived rally. Nasdaq futures and S&P 500 futures each rose 0.9%, while FTSE futures tacked on 0.87%, pointing to a strong open during the cash sessions later in the day following Trump's U-turn on his threat to impose 50% tariffs on imports from the EU next month, restoring a July 9 deadline. However, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.55% and EUROSTOXX 50 futures eased 0.15%. "While the delay in EU tariffs has provided a short-term boost to futures markets, underlying concerns about trade relations and upcoming economic indicators continue to weigh on investor sentiment," said Aaron Chwee, head of wealth advisory at OCBC. A major focus for investors this week will be results from Nvidia on Wednesday, where the AI bellwether is expected to report a 65.9% jump in first-quarter revenue. Speeches from a slew of Federal Reserve policymakers and Friday's U.S. core PCE price index are also due, which could provide clues on the outlook for U.S. rates. In Asia, Japan's Nikkei was down 0.1%, while Hong Kong's Hang Seng Index eased 0.18%. China's CSI300 blue-chip index fell 0.56%. Yields on super-long Japanese government bonds fell early in the session, retreating from their all-time highs in the wake of last week's heavy selloff in the bonds. [JP/] Bond yields, particularly on the long end, have surged around the world as concerns mount over growing fiscal deficits in advanced economies, led by the U.S. and Japan. U.S. Treasury yields were steady on Tuesday, with the two-year yield last at 3.9787% and the benchmark 10-year yield at 4.4773%. [US/] The dollar struggled to find its footing and was headed for a fifth straight month of declines against a basket of currencies, which would mark the longest such losing streak since 2017. The euro hovered near a one-month high at $1.1379, while the yen was steady at 142.84 per dollar. Trump's flip-flops on tariffs and concerns over the worsening U.S. deficit outlook have undermined sentiment towards U.S. assets and in turn been a drag on the dollar. "A U.S. dollar regime change could be in the making in the long term after it appears to have peaked recently," said David Meier, an economist at Julius Baer. "Erratic U.S. policymaking, the tense fiscal situation, and large external indebtedness, against the backdrop of the twin deficit, suggest that a weaker USD is the route of least resistance." And as the dollar loses some of its safe-haven appeal, investors have instead sought alternatives such as gold, sending prices to record highs this year. Gold last traded 0.3% lower at $3,331.79 an ounce. [GOL/] Elsewhere, oil prices eased on Tuesday as investors weighed the possibility of an OPEC decision to further increase its crude oil output at a meeting later this week. Brent crude futures declined 0.22% to $64.60 a barrel, while U.S. West Texas Intermediate crude fell 0.33% to $61.33 per barrel. This article was generated from an automated news agency feed without modifications to text.
The Star
23-05-2025
- Business
- The Star
Asian shares gain as Treasuries find support
SYDNEY: Asian shares gained on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump's tax bill narrowly passed the lower house, although debt worries still dominated. European shares are similarly poised for a higher open, with EUROSTOXX 50 futures up 0.2% and FTSE futures 0.3% higher. Nasdaq futures and S&P 500 futures were both flat. Overnight, PMI data around the globe showed U.S. business activity picked up pace in May, which helped Wall Street rise earlier in the session before running into selling pressures and closing the day little changed. In contrast, disappointingly weak activity in Europe dragged shares there lower. The Republican-controlled U.S. House voted by a slim margin to pass Trump's tax cut bill, which would fulfil many of his campaign pledges, but will increase the $36.2 trillion U.S. debt pile by $3.8 trillion over the next decade. Treasury yields, especially at the longer-dated end, have climbed on worries about U.S. fiscal health in the run-up to the passage of the bill. That was exacerbated by the decision from Moody's last week to downgrade the U.S. credit rating, citing rising debt. The 30-year bonds, however, did manage to find some buyers with prices now at some attractive levels. Their yields fell another 1.6 basis point to 5.048% on Friday, having dropped 2.5 bps overnight to pull away from a 19-month top of 5.161% earlier in the session. They are still up 15 bps this week. "Maybe the certainty of getting something through has been enough to alleviate some of the fear, panic in the market, but as well as that, it is not unusual in big moves for there to be a bit of overshoot," said Ken Crompton, senior interest rate strategist at the National Australia Bank. "There is certainly nothing in this market move or the passage of this version of the bill that tells me there is going to be meaningful reductions in U.S. bond issuance or this broader concern about global bond supply." In Asia, yields on super-long Japanese government bonds (JGBs) also retreated from their highs. The 30-year yields fell 5 basis points to 3.115%, after hitting all-time highs earlier in the week, with the jump being monitored closely by the Bank of Japan. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% on Friday, which helped it erase earlier losses in the week. Chinese blue chips were flat but Hong Kong's Hang Seng rose 0.6%. Japan's Nikkei gained 0.5% as data showed Japan's core inflation accelerated at its fastest annual pace in more than two years in April. In the currency market, the dollar was on the back foot again and is headed for a weekly drop of 1.3% against its major peers. The euro is set for the first weekly rise after four weeks of declines, and was up 0.3% on Friday at $1.1309. U.S. Federal Reserve Governor Christopher Waller said on Thursday he still sees a path to rate cuts later this year, but noted that the outlook depends on where Trump's tariff policy settles. Separately, a U.S. Supreme Court ruling on Thursday in a legal battle over Trump's firing of two federal labor board members contained a line that eased, for now, worries that the cases could open the door for the president to fire Fed Chair Jerome Powell at will. Bitcoin prices dipped from its record high but it was still set for a weekly gain of 6.4% to $110,796. Oil prices fell for a fourth straight session on the prospect of further output increases by OPEC+ countries. U.S. crude futures dropped 0.5% to $60.89 a barrel and were down 2.6% for the week. Brent also slipped 0.5% at $64.15 per barrel. In precious metals, gold prices rose 0.7% at $3,317 an ounce, and were set for a weekly gain of 3.6%. - Reuters
Observer
15-05-2025
- Business
- Observer
Global markets slip as investors await US data
SINGAPORE: Global markets struggled on Thursday, with stocks retreating and the dollar losing momentum as investors turned cautious ahead of critical US economic data. Oil prices also slid, with Brent crude and US crude futures both falling more than 2 per cent amid speculation over a potential US-Iran nuclear deal that could add significant supply to global markets. Meanwhile, US Treasury yields remained elevated, with the benchmark 10-year yield hitting a one-month high, partly driven by concerns over President Donald Trump's budget proposals, which would add trillions to the US debt. Earlier in the week, markets had rallied on news of a US-China tariff truce and high-profile investment deals from the Middle East, but the optimism began to fade by Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15 per cent, while Wall Street futures dipped after modest overnight gains. "The market feels like it's recovering from a party," said Tony Sycamore, a market analyst at IG. "Investors are hesitant to push stocks higher, with lingering doubts about global trade policies and economic stability." In Europe, futures pointed to a subdued start, with EUROSTOXX 50 down 0.17 per cent, DAX futures off 0.23 per cent, and FTSE futures largely flat. Asian markets also struggled, with Japan's Nikkei down 0.85 per cent, China's CSI300 sliding 0.63 per cent, and Hong Kong's Hang Seng Index losing 0.55 per cent. Currency markets remained volatile, with the US dollar slipping 0.55 per cent against the yen to 145.99 and falling more than 0.8 per cent against the Korean won to 1,395.52. The euro, meanwhile, edged up 0.2 per cent to $1.1193. Investors are now looking to US retail sales data and Walmart's earnings later in the day for further clues about the strength of the US consumer, a key pillar of the world's largest economy. Federal Reserve Chair Jerome Powell is also set to speak, with markets keenly watching for any hints on the central bank's interest rate outlook. Spot gold was down 1.2 per cent to $3,141.16 an ounce as investors sought clarity amid the mixed signals in global markets. — Reuters
Business Recorder
15-05-2025
- Business
- Business Recorder
Stocks ease, dollar wobbles as markets bide time ahead of US data
SINGAPORE: Stocks fell on Thursday while the dollar stumbled as the euphoria from market tailwinds earlier in the week fizzled out, with traders looking to U.S. data later in the day for further catalysts. Oil prices slid on expectations of a potential U.S.-Iran nuclear deal, with Brent crude futures and U.S. crude falling more than 2% each. U.S. Treasury yields were elevated and the benchmark 10-year yield rose to a one-month top, in part due to worries over President Donald Trump's budget package that would add trillions of dollars to the U.S. debt. Investors were greeted with a plethora of good news earlier this week from a U.S.-China trade-war truce to a raft of headline-grabbing investment deals from the Middle East during Trump's Gulf tour, in moves that breathed new life into battered global stocks. But most of the optimism died down by Thursday, leaving MSCI's broadest index of Asia-Pacific shares outside Japan down 0.15% and Wall Street futures slightly lower after notching marginal gains during the overnight cash session. 'We've had a huge party, everyone's hung over, and now we're just recuperating and waiting for the next big party,' said Tony Sycamore, a market analyst at IG. While the trade deal between the U.S. and China gave markets some reason to cheer, the absence of clarity over Trump's trade policies has left markets with a sense of lingering uncertainty over the global economic outlook. Investors were also waiting for further details of trade deals with other countries. 'I get the feeling there is a little bit of a reluctance to take the market higher from here,' said Sycamore. Asian markets cheer as pause in US-China trade war boosts risk appetite 'I don't think foreign investors are going to be rushing back to that overweight position they've had in U.S. equities because of that confidence that has been shaken during the events over the past couple of months, both from tariffs and lawmakers.' Europe was similarly set for a dour opening, with EUROSTOXX 50 futures down 0.17% while DAX futures eased 0.23%. FTSE futures were little changed. In Japan, the Nikkei fell 0.85%. China's CSI300 blue-chip index slid 0.63% while Hong Kong's Hang Seng Index lost 0.55%. For now, investors were awaiting Thursday's data on U.S. retail sales and earnings from Walmart, a bellwether for the U.S. retail industry, for a check on the pulse of consumer sentiment. A disappointing outcome could feed fears of a recession in the world's largest economy, which would be a drag on markets. Federal Reserve Chair Jerome Powell is also scheduled to speak later in the day, where the focus will be on any clues regarding the outlook for U.S. rates. Dollar fragile In currencies, the dollar was struggling to extend its strong gains made at the start of the week, falling 0.55% against the yen to 145.99. The euro rose 0.2% to $1.1193. Moves against the Korean won were particularly choppy for a second straight day, after news that South Korea's deputy finance minister Choi Ji-young met with Assistant Secretary for International Finance at the U.S. Treasury, Robert Kaproth, to discuss the dollar/won market on May 5. A report from Bloomberg that Washington is not negotiating for a weaker dollar as part of tariff talks helped calm currency markets, but concerns that the U.S. administration is pursuing just such a strategy continue to keep investors wary. The latest moves in the won were reminiscent of the unprecedented surge in the Taiwan dollar earlier this month. The dollar was last down more than 0.8% against the won at 1,395.52. 'While details are scarce and such discussions may be part of ongoing dialogue, it puts renewed focus on the scope for undervalued trade surplus currencies to appreciate in a weaker dollar environment,' said analysts at Goldman Sachs in a note. The Aussie jumped after data showed Australian employment blew past expectations in April, before paring some of those gains. It last bought $0.6432. Elsewhere, spot gold fell 1.2% to $3,141.16 an ounce.
