The Breakfast Briefing: Asian Stocks Slip As G-20 Begins

Ted

FYI: • Asian stocks drop, Hong Kong and Japan down 0.3%

• S&P 500 futures up 0.2%, Stoxx Europe 600 flat

• Brent crude falls 0.3%

Asian stocks slipped on Friday as investors awaited a meeting between Presidents Donald Trump and Xi Jinping at the Group of 20 summit, where trade negotiations will be top of the agen

In Europe, Deutsche Bank shares climbed 3.9% after its U.S. subsidiary passed the Federal Reserve’s stress test.

Meanwhile, the U.K.’s Merlin Entertainment , the world’s second largest operator of visitor attractions, was up 14% after it said it was being bought by a consortium involving Lego and Blackstone Group.

In the U.S., retailer Nordstrom was down 2.6% in premarket trade and informational technology services group Accenture lost 2.7% after it announced a fall in bookings. BlackRock shares jumped 6.5%.

European Indexes opened little changed with the Stoxx Europe 600 flat, while government bond yields edged up slightly. German 10-year bund yields were at minus 0.313%. U.S. 10-year Treasury yields edged up to 2.026% from 2.007% Thursday.

The downbeat trade in Asia came ahead of the G-20 meetings this weekend, where investors will watch for signs that trade tensions between the U.S. and China are set to clear.
Regards,
Ted
Market Watch:
https://www.marketwatch.com/story/dow-futures-rise-poised-for-best-june-in-80-years-as-all-eyes-turn-to-hoped-for-china-trade-progress-2019-06-28/print

WSJ:
https://www.wsj.com/articles/asian-stocks-slip-as-g-20-begins-11561708211

Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-27/asia-stocks-to-start-mixed-ahead-of-trump-xi-meet-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-apple-stock-boeing-nike-earnings-jpmorgan-goldman-sachs-move-late/

CNBC:
https://www.cnbc.com/2019/06/28/stock-market-trump-xi-meeting-at-the-g-20-summit-in-focus.html

Reuters:
https://www.reuters.com/article/us-global-markets/trade-uncertainty-stops-world-stocks-in-tracks-idUSKCN1TT03Q

U.K.
https://uk.reuters.com/article/uk-britain-stocks/housebuilders-take-ftse-100-higher-buyout-offer-helps-merlin-soar-idUKKCN1TT0XC

Europe:
https://www.reuters.com/article/us-europe-stocks/deutsche-bank-supports-european-shares-ahead-of-g20-meeting-u-s-china-talks-idUSKCN1TT0Y6

Asia:
https://www.marketwatch.com/story/asian-markets-slip-as-g-20-meeting-kicks-off-in-japan-2019-06-27/print

Bonds:
https://www.cnbc.com/2019/06/28/us-treasury-yields-rise-ahead-of-g-20-trade-meeting-between-us-and-china.html

Currencies:
https://www.cnbc.com/2019/06/28/forex-market-g-20-summit-us-china-trade-war-in-focus.html

Oil:
https://www.cnbc.com/2019/06/28/oil-market-g20-summit-us-china-trade-war-in-focus.html

Gold:
https://www.cnbc.com/2019/06/28/gold-market-g-20-summit-us-china-trade-war-in-focus.html

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