The Breakfast Briefing: Global Stocks Pause After Accelerating On Factory Data

Ted

FYI: Global stocks mostly paused on Tuesday as investors took a breath after sharp gains on the first day of 2019’s second quarter.

Indexes around the world jumped Monday after gauges of manufacturing activity in both the U.S. and China stabilized from earlier slowdowns.

But the flurry of early-week buying slowed to a crawl on Tuesday, with Asian indexes ticking gently higher. Japan’s Nikkei 225 was flat, while Hong Kong’s Hang Seng Index rose 0.1%. South Korea’s Kospi benchmark rose 0.4%, shrugging off weaker-than-expected inflation data released Tuesday.

In Europe, the pan-continental Stoxx Europe 600 was flat in opening trading, after notching its largest one-day gain since February on Monday.

In the U.S., futures put the S&P 500, the Dow Jones Industrial Average and the Nasdaq-100 on course to slip 0.1% at the opening bell, with all three indexes having advanced more than 1% on Monday.

The yield on 10-year U.S. Treasurys had last ticked down to 2.476% from 2.496% late Monday.

Elsewhere, the Turkish lira continued its slump, falling 1.6% against the dollar and extending its fall over the past month to 3.6%.

In commodities, Brent crude edged up 0.1% to $69.05 a barrel. Gold dropped 0.3% to $1,290.10 an ounce.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-pause-after-data-driven-rise-11554192131

Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-01/asia-stocks-to-gain-pound-drops-on-brexit-votes-markets-wrap?srnd=premium
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CNBC:
https://www.cnbc.com/2019/04/02/stock-market-futures-slightly-lower-despite-strong-manufacturing-data.html

U.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-enjoys-four-day-winning-streak-as-oil-companies-gain-idUKKCN1RE0MN

Europe:
https://www.reuters.com/article/europe-stocks/european-stocks-pause-after-strong-rally-brexit-impasse-weighs-idUSL3N21K1RR

Asia:
https://www.marketwatch.com/story/asian-markets-add-on-to-mondays-gains-2019-04-01/print

Bonds:
https://www.cnbc.com/2019/04/01/bond-market-treasury-yields-rise-amid-china-data-trade-optimism.html

Currencies:
https://www.cnbc.com/2019/04/02/forex-market-us-treasuries-global-economic-slowdown-in-focus.html

Oil:
https://www.cnbc.com/2019/04/02/oil-market-opec-supply-cuts-us-sanctions-in-focus.html

Gold:
https://www.cnbc.com/2019/04/02/gold-market-dollar-moves-equities-in-focus.html

Current Futures:
https://finviz.com/futures.ashx