European stocks slid for a second day as a global equity rally lost momentum in the wake of economic damage caused by the pandemic. U.S. equity futures fluctuated and the dollar steadied.
HSBC Holdings Plc slumped after some of Donald Trump’s advisers proposed a move to punish banks in Hong Kong and destabilize the currency peg to the dollar. Gold traded near its highest level since 2011 and oil held below $41 a barrel in New York after an industry report signaled a surprise gain in U.S. crude stockpiles.
In Asia, stocks in Shanghai powered ahead for a seventh day and iron ore futures climbed.
The rally in global stock markets is struggling for traction amid concern the coronavirus outbreak could stall an economic recovery. Many Americans plan to spend less on social activities, such as movies, event tickets or at bars, than before the pandemic, according to a survey for CreditCards.com.
Many Americans Plan to Spend Less Than Before the Virus Struck
“It’s not unusual for stocks to take a breather at this point,” Susan Schmidt, a portfolio manager at Aviva Investors, said on Bloomberg TV. “We could see ourselves in a bit of a trading range in the next couple of weeks,” before U.S. earnings season ramps up.
Here are some key events coming up:
- The EIA crude oil inventory report comes Wednesday.
- All eyes will be on the U.S. weekly jobless claims report on Thursday.
- Singapore holds its general election on Friday.
Robert Shiller, Yale University professor of economics, talks about the lasting impact of the coronavirus on the housing market.
Source: Bloomberg
These are the main moves in markets:
Stocks
- Futures on the S&P 500 Index increased 0.2% as of 8:18 a.m. London time.
- The Stoxx Europe 600 Index fell 0.5%.
- Germany’s DAX Index declined 0.4%.
- The MSCI Asia Pacific Index was little changed.
Currencies
- The Bloomberg Dollar Spot Index dipped 0.1% to 1,213.
- The euro gained 0.1% to $1.1287.
- The Japanese yen was little changed at 107.47 per dollar.
- The British pound advanced 0.1% to $1.2557.
Bonds
- The yield on 10-year Treasuries advanced one basis point to 0.65%.
- Germany’s 10-year yield dipped one basis point to -0.44%.
- Britain’s 10-year yield declined two basis points to 0.161%.
Commodities
- West Texas Intermediate crude dipped 0.4% to $40.45 a barrel.
- Gold was little changed at $1,794.26 an ounce.
— With assistance by Sophie Caronello, Claire Ballentine, Amena Saad, and Joanna Ossinger
"stock" - Google News
July 08, 2020 at 02:26PM
https://ift.tt/2ZMddS1
Stock Market Today: Dow, S&P Live Updates for Jul. 8, 2020 - Bloomberg
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Stock Market Today: Dow, S&P Live Updates for Jul. 8, 2020 - Bloomberg"
Post a Comment