FYI: Global stocks kicked off the week higher on signs of progress in U.S.-China trade negotiations.
The Stoxx Europe 600 rose 0.4% in early morning trade, following broad gains across Asia where Chinese stocks led the way.
Futures for the S&P 500 and the Dow Jones Industrial Average futures were up 0.3%. The Dow has risen for nine of the past 10 weeks.
The Wall Street Journal reported Sunday that the U.S. and China were in the final stages of completing a trade deal after months of sparring. Beijing was offering to lower tariffs and other restrictions on American goods while Washington was considering removing most, if not all, sanctions levied against Chinese products since last year.
In currencies, the WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat. The 10-year U.S. Treasury yield rose slightly to 2.759%, from 2.755% Friday. Yields move inversely to prices.
n Asia, China’s Shanghai Composite Index rose 1.1% and Japan’s Nikkei finished up 1%. Hong Kong’s Hang Seng Index, which is dominated by mainland Chinese companies and other businesses that are heavily exposed to China, advanced 0.5% to an eight-month high.
In commodities, Brent crude, the global oil benchmark, was up 0.1% while gold prices fell 0.5%.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-climb-on-reports-trade-deal-will-soon-be-finalized-2019-03-04/printWSJ:
https://www.wsj.com/articles/global-stocks-climb-on-progress-in-trade-talks-11551688812Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-03/yuan-climbs-with-aussie-on-trade-deal-optimism-markets-wrapIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-china-trade-deal-apple-stock-boeing-stock-alibaba-stock-market-rally-tesla-model-y/CNBC:
https://www.cnbc.com/2019/03/04/stock-market.htmlEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-rise-as-trade-war-hopes-lift-sentiment-idUSKCN1QL0PZAsia:
https://www.marketwatch.com/story/asian-markets-gain-on-reports-that-us-china-trade-agreement-is-imminent-2019-03-03/printBonds:
https://www.cnbc.com/2019/03/01/us-bonds-treasury-yields-move-higher-as-investors-await-economic-data.htmlCurrencies:
https://www.cnbc.com/2019/03/04/forex-markets-aussie-dollar-chinese-yuan-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2019/03/04/oil-markets-us-china-trade-opec-in-focus.htmlGold:
https://www.cnbc.com/2019/03/04/gold-markets-china-us-trade-deal-dollar-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx
