FYI: Global equity markets ticked up Monday as investors cheered an immigration deal between the U.S. and Mexico, struck late Friday, which lifted the threat of new tariffs.
In Europe, the Stoxx Europe 600 was up 0.2% in morning trading, while German markets were closed for a public holiday. In Asia, the Shanghai Stock Exchange was up 0.9%, Hong Kong’s Hang Seng gained 2.2% and Japan’s Nikkei index was up 1.2%.
Futures pointed to opening gains on Wall Street of 0.3% for both the Dow Jones Industrial Average and the S&P 500.
Mexico said Friday it would expand border programs to stem migration into the U.S. Meanwhile, trade tensions between the U.S. and China drag on.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was up 0.3%. The Mexican peso was up 2.4% on the dollar, and the Chinese yuan was down 0.3% on the dollar.
The non-energy minerals, consumer durables and producer manufacturing sectors led European stocks higher on Monday. Among the biggest gainers were steel giant Arcelor Mittal SA and Ocado Group PLC, the online retailer.
The 10-year U.S. Treasury yield rose to 2.133% on Monday from 2.085% on Friday. And the yield on the equivalent German bonds remained in negative territory at minus 0.236%. Yields and prices move in opposite directions.
Investors will be watching for signs that the U.S. economy is weakening this week when May inflation figures are published on Wednesday and retail sales data on Friday.
In commodities, global benchmark Brent crude oil was up 0.1% at $63.33 a barrel.
Regards
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-gain-on-u-s-mexico-deal-11560153230MarketWatch:
https://www.marketwatch.com/story/stock-futures-rise-as-us-mexico-trade-tensions-cool-2019-06-10/printBloomberg:
https://www.bloomberg.com/news/articles/2019-06-09/asia-stocks-set-for-gains-u-s-futures-higher-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-apple-stock-market-rally-mexico-tariffs-china-trade-talks-united-technologies-raytheon/CNBC:
https://www.cnbc.com/2019/06/09/dow-futures-jump-more-than-100-points-after-us-mexico-reach-deal-to-avoid-tariffs.htmlReuters:
https://uk.reuters.com/article/us-global-markets/global-stocks-climb-on-trade-rate-cut-optimism-yuan-falters-idUKKCN1TA0VVU.K.
https://uk.reuters.com/article/uk-britain-stocks/uk-stocks-rise-on-trade-relief-thomas-cook-surges-on-buyout-talks-idUKKCN1TB0SJEurope:
https://www.reuters.com/article/europe-stocks/european-shares-gain-on-mexico-tariff-relief-idUSL4N23H1KLAsia:
https://www.marketwatch.com/story/asian-markets-rally-on-encouraging-trade-developments-2019-06-09/printBonds:
https://www.cnbc.com/2019/06/10/us-treasury-yields-tick-higher-as-trump-suspends-tariffs-on-mexico.htmlCurrencies:
https://www.cnbc.com/2019/06/10/forex-market-mexico-tariffs-lifted-us-china-trade-war-in-focus.htmlOil:
https://www.cnbc.com/2019/06/10/oil-market-us-mexico-tariffs-lifted-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/06/10/gold-market-us-mexico-tariffs-lifted-fed-rate-cut-bets-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx
