Stock Market Today: Dow, S&P Live Updates for Sept. 7, 2020 - Bloomberg

rinwengi.blogspot.com

Photographer: d3sign/Moment RF

Stocks kicked off the week in a nervy fashion after the biggest two-day slide for global equities since June left investors on edge in the wake of the recent sell-off. Crude oil extended its recent weakness and the dollar ticked higher.

Japanese shares slipped along, while those in Australia. South Korea fluctuated. S&P 500 futures were down though came off the session lows. U.S. markets are shut Monday for a holiday after the worst week for the Nasdaq since March. The pound ticked lower going into another round of Brexit negotiations. Hong Kong markets will be in focus after protests again flared up on the city Sunday. Treasury futures edged higher after a slide in bonds on Friday, a move which Australian debt tracked early on Monday.

“Risk assets remain fragile following Thursday’s tech-led rout and volatility spike,” said Ben Emons, managing director for global macro strategy at Medley Global Advisors. “With stimulus having been key for supporting equities and such lofty valuations, its renewal will be crucial not only for the recovery, but as a driver for equities as job risks mount.”

Traders are on tenterhooks as the week kicks into gear and they continue to chart the path for a global economy dealing with a pandemic. Federal Reserve Chairman Jerome Powell responded positively to Friday’s U.S. employment data, but reiterated his view that the economic recovery has a long road ahead. One big event later this week is the European Central Bank’s policy meeting.

Elsewhere, crude oil was back below $39 a barrel and gold was steady.

Here are some key events coming up:

• The next Brexit negotiating round begins with face-to-face discussions between the U.K. and the EU in London.
• The ECB will probably hold rates on Thursday but indicate that downside risks have intensified, suggesting further easing is possible before year-end.
• U.S. CPI data is due Friday, with consumer prices expected to rise in August for a third straight month.

Chinese regulators vow to accelerate the opening up of its capital markets and deepen reforms to attract more foreign investors.

Source: Bloomberg

These are the main moves in markets:

Stocks

• S&P 500 futures fell 0.5% as of 9:13 a.m. in Tokyo. The index fell 0.8% on Friday.
• Japan’s Topix index fell 0.2%.
• Australia’s S&P/ASX 200 Index fell 0.6%.
• South Korea’s Kospi index added 0.1%.

Currencies

• The yen slipped 0.1% to 106.31 per dollar.
• The Bloomberg Dollar Spot Index rose 0.1%.
• The euro held at $1.1835.
• The offshore yuan was at 6.8384 per dollar.
• The pound slipped 0.2% to $1.3247.

Bonds

• The yield on 10-year Treasuries climbed eight basis points to 0.72% on Friday. Futures ticked higher, with the cash market shut Monday for Labor Day.
• Australia’s 10-year bond yield climbed six basis points to 0.95%.

Commodities

• West Texas Intermediate crude declined 2.6% to $38.74 a barrel.
• Gold was steady at $1,934.45 an ounce.

— With assistance by Nancy Moran, and Cormac Mullen

Let's block ads! (Why?)

"stock" - Google News
September 07, 2020 at 03:58AM
https://ift.tt/2F3mrmw

Stock Market Today: Dow, S&P Live Updates for Sept. 7, 2020 - Bloomberg
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF

Bagikan Berita Ini