FYI: Global stocks inched up on Friday with most major benchmarks on course to close out the week higher amid continuing hopes for a trade deal between the U.S. and China.
The Stoxx Europe 600 edged up 0.1% in the opening minutes of trading, with the index’s basic resources sector increasing a further 1.4% at the end of a week of stronger-than-expected corporate earnings.
European traders were awaiting eurozone inflation data after Germany’s figures released earlier in the day matched market estimates. Investors were expecting the broader European figure to fit in with a recent wave of weak European economic growth indicators.
Soft gains in Europe followed larger moves in China, where the Shanghai Composite Index climbed 1.9% and the often-more-volatile Shenzhen A-Share advanced 2.3%.
Moves elsewhere in Asia were shallow, with Hong Kong’s Hang Seng ticking up 0.4% and Japan’s Nikkei 225 edging 0.2% lower.
Major Asian bourses have this week continued their sharp rallies of 2019 partly thanks to growing hopes that U.S. and Chinese negotiators are progressing toward signing a trade deal. The Hang Seng and the Nikkei had last risen 3.3% and 2.5% since Monday’s open.
In the U.S., futures pointed to 0.1% increases at the opening bell for the S&P 500, the Nasdaq-100 and the Dow Jones Industrial Average. With Royal Bank of Canada and Cabot Oil & Gas among the companies set to release corporate earnings, market participants were also awaiting speeches from a few Federal Reserve Board members.
In commodities, copper prices hit fresh eight-month highs, climbing 0.8% to $6,423.50 a metric ton. Brent crude oil climbed 0.2% to $67,20 a barrel.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-on-course-for-weekly-gains-11550826589Bloomberg:
https://www.bloomberg.com/news/articles/2019-02-21/asia-stocks-look-set-to-slip-treasuries-decline-markets-wrapIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-current-stock-market-rally-trade-desk-stock-kraft-heinz-stock-stamps-com-stock/Reuters:
https://www.reuters.com/article/us-global-markets/global-shares-nudge-higher-aussie-dollar-rebounds-after-slide-idUSKCN1QB02ZCNBC:
https://www.cnbc.com/2019/02/22/stock-markets-futures-mixed-amid-weak-data-us-china-trade-talks.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-flat-results-from-elekta-sika-sopra-steria-drive-big-swings-idUSKCN1QB0URAsia:
https://www.marketwatch.com/story/asian-markets-pull-back-following-wall-streets-lead-2019-02-21/printBonds:
https://www.cnbc.com/2019/02/21/bond-market-treasury-yields-eye-us-china-trade-talks.htmlCurrencies:
https://www.cnbc.com/2019/02/22/forex-market-greenback-australian-dollar-in-focus.htmlOil:
https://www.cnbc.com/2019/02/22/oil-markets-us-crude-output-opec-led-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/02/22/gold-markets-us-china-trade-federal-reserve-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx
