European stocks slid on earnings, while U.S. futures were steady before jobs data and word on the latest American stimulus package.
Glencore Plc led losses in the FTSE 100 Index after scrapping its dividend. ITV Plc slumped after saying it wouldn’t provide an outlook for the rest of the year after the pandemic led to its worst-ever drop in advertising sales. Adidas AG advanced as sales are bouncing back more rapidly than expected after global store closures.
Gold pushed further above $2,000 an ounce for a third day before news on whether the U.S. will approve another trillion-dollar aid package to counter the coronavirus. A dollar index traded near a two-year low. The pound rose against the euro after the Bank of England said it didn’t plan to tighten policy until the inflation outlook was more clear.
Financials Take Virus Hit, Pharma Guidance Raised: Earnings Wrap
Investors pushed a gauge of global stocks this week to within a whisker of recouping this year’s declines, as pressure grows on Republicans and Democrats to resolve differences over a new U.S. virus relief package. Meantime, Secretary of State Michael Pompeo urged American firms to bar Chinese applications from their app stores, the latest Trump administration attempt to counter China on multiple fronts.
“There are some risks of the market relying too heavily on positive news around the fiscal stimulus and an earnings season that still wasn’t that great, even if many companies did beat,” Kerry Craig, global market strategist at JPMorgan Asset Management in Melbourne, said on Bloomberg TV. “There’s a case for markets, in the U.S. particularly, taking a pause from here on out rather than continuing this rally, given how strong it has been.”
U.S. economic has been mixed. Data showed payroll gains slowing sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market, while service industries expanded at the fastest pace since February 2019. Initial and continuing jobless claims are due later on Thursday.
Goldman Sachs Group Inc. warned investors that a successful coronavirus vaccine might unsettle markets by sparking a sell-off in bonds and rotation out of technology into cyclical stocks.
The BOE left rates and QE unchanged and said it doesn’t plan to tighten policy until it’s more certain about the outlook for inflation.
Source: Bloomberg
Here are some key events coming up:
- Reports on initial and continuing jobless claims in the U.S. is due Thursday.
- Dallas Fed President Robert Kaplan discusses the U.S. economy at a Thursday event.
- Germany’s June industrial production figures are scheduled for Friday.
- July U.S. jobs reports expected Friday.
These are some of the main moves in markets:
Stocks
- Futures on the S&P 500 Index were little changed at 9:13 a.m. London time.
- The Stoxx Europe 600 Index fell 0.3%.
- The MSCI Asia Pacific Index increased 0.1%.
- The MSCI Emerging Market Index gained 0.3%.
Currencies
- The Bloomberg Dollar Spot Index increased 0.1%.
- The euro fell 0.1% to $1.1848.
- The British pound jumped 0.4% to $1.3162.
- The Japanese yen was little changed at 105.58 per dollar.
- The offshore yuan weakened 0.1% to 6.9478 per dollar.
Bonds
- The yield on 10-year Treasuries sank two basis points to 0.53%.
- The yield on two-year Treasuries decreased less than one basis point to 0.11%.
- Germany’s 10-year yield fell two basis points to -0.52%.
- Britain’s 10-year yield declined one basis point to 0.116%.
- Japan’s 10-year yield gained one basis point to 0.02%.
Commodities
- West Texas Intermediate crude declined 1.1% to $41.71 a barrel.
- Brent crude dipped 0.9% to $44.93 a barrel.
- Gold strengthened 0.4% to $2,045.98 an ounce.
— With assistance by Joanna Ossinger, Gregor Stuart Hunter, and Adam Haigh
"stock" - Google News
August 06, 2020 at 04:29AM
https://ift.tt/2XxBUBb
Stock Market Today: Dow, S&P Live Updates for Aug. 6, 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 Aug. 6, 2020 - Bloomberg"
Post a Comment