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The Breakfast Briefing: Dow Futures Slightly Higher Amid Global Growth Concerns: Early Close 1:PM

TedTed
edited July 2019 in The Bullpen
FYI:

At around 04:00 a.m. ET, Dow futures rose 19 points, indicating a positive open of more than 37 points.
Futures on the S&P and Nasdaq were both seen slightly higher.

• The Stoxx Europe 600 climbs 0.6%

• U.S. Treasury yields tick lower

• Asian stocks drop, with Hong Kong down 0.1%, Japan down 0.5%

German 10-year government bond yields slid to a record low of minus 0.394% on Wednesday on expectations that the European Central Bank’s likely new president, Christine Lagarde, will pursue more easy-money policies.

Other bond yields also fell in Europe as investors bet on more interest-rate cuts and bond buying to come as the continent suffers low growth and low inflation rates. Italy’s 10-year bond yields fell to 1.741%, while U.S. yields were down to 1.947% from 1.978% on Tuesday.

The Stoxx Europe 600 index rose 0.6%, led by the food and beverage sectors, utilities and health-care companies. Shares in JD Sports Fashion were up almost 3% after the company said it expected its profit to meet analysts’ forecasts, taking its gains for this year to 78% and making it one of Europe’s best-performing stocks in 2019.

Asian stock markets fell, with South Korea leading losses as the Kospi slipped 1.2% after the country lowered growth and inflation forecasts. Consumer prices are expected to rise 0.9% in 2019 rather than 1.6% as previously forecast. Chinese stocks in Shanghai were down 0.9%, while Hong Kong’s Hang Seng was 0.1% lower.
The WSJ dollar index, which measures the dollar against a basket of its peers, gained 0.1%.

In commodities, Brent crude oil rose 0.3% to $62.59 after a steep fall on Tuesday. Gold was also up 1.4% to $1,427.70 an ounce.
Regards,
Ted
:MarketWatch:
https://www.marketwatch.com/story/sp-500-heads-for-3rd-straight-record-ahead-of-private-sector-jobs-report-2019-07-03/print

WSJ:
https://www.wsj.com/articles/european-stocks-shrug-off-asian-losses-to-rise-11562140918

Bloomberg:
https://www.bloomberg.com/news/articles/2019-07-02/asian-stocks-to-slip-treasury-rally-resumes-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-tesla-deliveries-hit-record-broadcom-eyes-symantec-deal/

CNBC:
https://www.cnbc.com/2019/07/03/stock-market-wall-street-in-focus-as-trade-optimism-fades.html

Reuters:
https://www.reuters.com/article/us-global-markets/europe-rallies-as-bond-yields-plough-new-lows-idUSKCN1TY043

U.K.
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-hits-10-month-high-as-sterling-weakens-telford-soars-idUKKCN1TY0TF

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-hit-two-month-high-as-eu-picks-lagarde-to-head-ecb-idUSKCN1TY0TK

Asia:
https://www.marketwatch.com/story/asian-markets-fall-as-trade-war-uncertainty-rises-again-2019-07-02/print

Bonds:
https://www.cnbc.com/2019/07/03/us-bonds-treasury-yields-tick-lower-as-investors-monitor-data.html

Currencies:
https://www.cnbc.com/2019/07/03/forex-markets-us-bond-yields-british-pound-and-dollar-in-focus.html

Oil:
https://www.cnbc.com/2019/07/03/oil-markets-opec-global-demand-in-focus.html

Gold:
https://www.cnbc.com/2019/07/03/gold-markets-global-trade-us-yields-in-focus.html

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



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