The Breakfast Briefing: Global Stocks Rise Ahead Of ECB Policy Decision

Ted

FYI: U.S. stock index futures were mixed on Thursday morning as investors gear up for a busy day of earnings.

Around 5 a.m. ET, Dow futures pointed to a gain of 26 points at the open, while the S&P 500 was seen fractionally higher and the Nasdaq looked set to slide.

European stocks followed Asian indexes higher ahead of the European Central Bank meeting later today, where hints of fresh stimulus to boost the eurozone economy are widely expected.

The Stoxx Europe 600 was up by 0.4%, led by gains in the health care and food and beverage sectors. Asian stocks were broadly up, with South Korea’s Kospi the exception with a decline of 0.4%.

The yield on 10-year German bunds was at minus 0.436%, near its all-time low after weaker-than-expected European manufacturing data.

In the U.S., the yield on 10-year Treasurys fell to 2.030%, from 2.052% Wednesday. Yields fall when bond prices rise. The WSJ Dollar Index, which measures the currency against a basket of peers, was flat.

On the earnings front, financial firms Lazard , Invesco and KKR will report Thursday, as will tech giants Alphabet Inc. and Amazon.com Inc.

A series of better-than-expected earnings reports have recently supported markets. Facebook Inc. on Wednesday brushed off a record-setting privacy fine to post strong earnings and revenue growth. Shares gained 0.9% in after-hours trading.

U.S. durable goods data for June are due later Thursday, which will give an indication of the health of American manufacturing.

In commodities, the global oil benchmark Brent crude was up by 0.5% to $63.47 a barrel, as European powers struggled to cooperate on a plan to secure the Persian Gulf. Gold edged up 0.2%.

Regards,
Ted

WSJ:
https://www.wsj.com/articles/global-stocks-rise-ahead-of-ecb-policy-decision-11564041309

Bloomberg
https://www.bloomberg.com/news/articles/2019-07-24/asian-stocks-set-for-muted-open-treasuries-gain-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-facebook-stock-volatile-tesla-stock-servicenow-xilinx-ford-fall/

CNBC:
https://www.cnbc.com/2019/07/25/us-stock-futures-tech-regulation-nasdaq.html

Reuters:
https://uk.reuters.com/article/us-usa-economy/u-s-housing-manufacturing-sectors-mired-in-weakness-idUKKCN1UJ1UZ

U.K.
https://uk.reuters.com/article/uk-britain-stocks/astrazeneca-guides-ftse-100-higher-buyout-powers-cobham-idUKKCN1UK0RO

Europe:
https://www.reuters.com/article/us-europe-stocks/lvmh-inbev-lift-european-shares-to-one-year-highs-ahead-of-ecb-meeting-idUSKCN1UK0SO

Asia:
https://www.marketwatch.com/story/asian-markets-little-changed-as-investors-await-central-bank-decisions-2019-07-24/print

Bonds:
https://www.cnbc.com/2019/07/25/treasury-yields-fall-key-central-bank-meetings.html

Currencies:
https://www.cnbc.com/2019/07/25/forex-markets-euro-european-central-bank-in-focus.html

Oil:
https://www.cnbc.com/2019/07/25/oil-markets-global-demand-in-focus.html

Gold:
https://www.cnbc.com/2019/07/25/gold-markets-dollar-ecb-in-focus.html

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

Old_Skeet

Thanks @Ted for putting this up each morning.

Ted

@Old_Skeet: It's my pleasure !
Regards,
Ted