|Day's range||25,570.36 - 26,137.91|
|52-week range||21,139.26 - 29,174.92|
The yield on the 10-year Treasury slid as low as 0.56 per cent on Friday before rebounding, while the yield on the five-year note hit a record low of 0.26 per cent. The potential for fresh lockdowns has increased demand for the safety of Treasuries and amplified the disconnect between nervous bond markets and equity markets that have held on to their gains since a nadir in March and continue to trade near highs for the year. “We don't agree with what the bond market is telling us, but we respect it,” said Andrew Brenner, head of international fixed income at National Alliance Securities.
Global stocks slipped on Thursday after an uptick of coronavirus deaths in Florida rekindled fears that the outbreak could hinder the fragile US economic recovery. The S&P 500 closed 0.6 per cent lower, led by stocks sensitive to consumer spending and virus-related restrictions such as United Airlines, which fell 7.3 per cent. The tech-heavy Nasdaq rose 0.5 per cent to a fresh record, as reliance on online activities remained high. States including Florida, Texas and Arizona have suffered a rise in coronavirus cases for some time, without a related acceleration in deaths.
Investors in China's soaring stock market are increasingly turning to Hong Kong for bargains, egging on an investment boom on the back of large tech listings and shaking off fears of political risks in the bruised financial hub. "Elephants are dancing (in mainland China), but in Hong Kong, many stocks are lying on the floor," Shen Weizheng, senior advisor at brokerage Direct Access, said during an online pitch to mainland investors on Wednesday. A growing number of U.S-listed Chinese internet companies, including NetEase and JD.com, have chosen to float in Hong Kong through secondary listings amid heightened Sino-U.S. tensions.
Equity markets slid on Thursday after U.S. data raised worries about the economy's recovery and doused enthusiasm that drove a Chinese stock rally for an eighth straight day, while the dollar rebounded as new coronavirus cases hit another record. The dollar had struggled early in the session, with China's yuan climbing to a four-month peak as investors poured into Chinese stocks on growing signs of a recovery that also helped lift copper prices to more than a year's high. A slowing rate of decline in weekly U.S. jobless claims from a peak in March also gave investors pause.
The Zacks Analyst Blog Highlights: JD.com, Tencent, Alibaba and Sohu.com
Asian stocks dithered on Wednesday as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery while oil prices eased on oversupply fears. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> were a tad lower after hitting a 4-1/2 month high just on Tuesday. Australian shares <.AXJO> were down 0.4% as were indexes for New Zealand <.NZ50> and South Korea <.KS11>.
Asian stocks were set for a mixed open on Wednesday, as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery, leading some investors to cash in on recent gains ahead of earnings season. Australian S&P/ASX 200 futures <YAPcm1> lost 0.50% in early trading, while Japan's Nikkei 225 futures <NKc1> added 0.11%, and Hong Kong's Hang Seng index futures <.HSI> <HSIc1> rose 0.39%. The United States reported tens of thousands of new coronavirus infections, prompting New York to expand its travel quarantine for visitors from three more states, while Florida's greater Miami area rolled back its reopening.
Global stocks rose on Wednesday as recovery hopes overcame fears that a surge in coronavirus cases would slow the U.S. economy, but many investors still sought safety on pandemic worries, driving gold prices above $1,800 an ounce for the first time since 2011. Stocks on Wall Street rose, and the Nasdaq marked a record closing high, boosted by technology shares, while demand for the dollar, a traditional safe harbor, slid even as the number of confirmed U.S. coronavirus cases surpassed 3 million. Yousef Abbasi, global market strategist at StoneX Group Inc in New York, said U.S. investors in particular are still comfortable with the idea of buying secular growth or select companies they think will thrive in a low-consumption economy.
The rally comes after a major state-owned financial newspaper said that China requires a bull market to build strength, reviving memories of the bull run of 2015.
Stocks retreated across the world on Tuesday, ending a six-day global rally that had brought equities in the US within striking distance of positive territory for the year. The declines, which accompanied a spurt of buying of haven assets including US Treasuries and UK gilts, came as traders weighed flare-ups in coronavirus cases in several parts of the world. On Wall Street, the S&P 500 fell 1.1 per cent, with roughly four shares falling in the index for each stock that advanced.
Investor caution over renewed coronavirus-related lockdowns buoyed the dollar and snapped a five-day rally in most world equity markets on Tuesday, but was not enough to halt a hot streak in Chinese stocks. The dollar edged higher as risk currencies such as the Australian dollar took a breather from recent gains and gold dipped as investors booked profits after bullion rallied to a near eight-year peak, trading around $1,780 an ounce. Bourses in London, Paris and Frankfurt fell about 1% for most of the session before paring some losses, while losses were greater on Wall Street even as the Nasdaq posted a fresh intraday high before closing down.
Sterling will be back in investors’ sights on Monday, when UK and EU negotiators are scheduled to meet in London to hammer out an arrangement on their post-Brexit relations by the end of the month. After four days of talks last week, Michel Barnier, the EU’s chief negotiator, raised the prospect of a deal, and the pound responded. Unless the UK meets its self-imposed end-July deadline for a trade deal with the EU, it will drop out of the EU’s single market and customs union at the end of this year, having left the bloc in January.
World stocks rose for a fourth straight day on Thursday after U.S. payrolls increased by a record 4.8 million in June, but the dollar and Treasury debt prices also edged up, which suggested lingering concern about rising COVID-19 cases in many U.S. states. New cases shot up by nearly 50,000 in the United States on Wednesday, according to a Reuters tally, marking the biggest one-day spike since the start of the pandemic. "The strong rebound would normally be an unambiguously positive sign that a recovery is under way (but) it is being accompanied by a sharp rise in new infections, which was what caused the collapse in the first place," said Mike Bell, global market strategist at JP Morgan Asset Management in London.
US stocks jumped at the opening bell after a strong jobs report fuelled hopes that the world’s largest economy is on track for a recovery from the damage caused by the coronavirus pandemic despite a recent rollback in lockdowns. The jobs figures were collated in the second week of last month, before the recent spike in infections.
A measure of stocks across the globe rose for a fourth straight day on Thursday after June U.S. payrolls grew by a record 4.8 million, but investors also flocked to the safe-haven dollar and U.S. Treasuries on concerns about surging COVID-19 cases in many U.S. states. Several states, along with some other parts of the world, are reversing or pausing reopenings to tackle a recent surge in infections, leaving analysts worried about another sell-off in financial markets if the damage mounts.
In the streets of Hong Kong, activists protest against China's new security law. Hong Kong markets will benefit from more listings by Chinese companies, more mainland money, and more financial links with the world's second-biggest economy, traders and analysts say, despite legislation some fear will erode the city's freedoms. Beijing unveiled the law on Tuesday, and Hong Kong police made their first arrests of protesters under the legislation on Wednesday.
Stocks across the globe rose on Wednesday following data pointing to a recovery in manufacturing and on bets for a COVID-19 vaccine, while the risk-on mood pushed the U.S. dollar lower. Germany's manufacturing sector contracted at a slower pace in June, while activity in the United States hit a 14-month high. On Thursday, the market's focus will be on the U.S. non-farm payrolls report for June.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> inched 0.2% higher, led by a 0.8% rise in Chinese blue chips <.CSI300>. Sentiment had been boosted by signs that China's factories are slowly gathering steam, with the Caixin/Markit manufacturing PMI rising to 51.2, compared with expectations for 50.5. Hong Kong police said they arrested a man holding a pro-independence flag in the first apparent use of new security laws that were imposed by China on its freest city late on Tuesday evening.
A global stocks index rose on Tuesday and marked its largest quarterly gain since 2009 as investors continued to look for signs of an economic recovery while shrugging off data showing a rising number of COVID-19 cases. World shares rose 18.7% this quarter, the biggest quarterly gain in 11 years, but are still down more than 7% so far this year due to a slump of 34% between Feb. 12 and March 23.
Asian shares rose on Tuesday after data showed China's manufacturing sector grew more than expected in June, a hopeful sign for a global economy still struggling to recover from the sweeping impact of the coronavirus crisis. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was up 0.9%, while U.S. stock futures, the S&P 500 e-minis <ESc1>, advanced 0.23%. Sentiment in the region, which got a boost from overnight gains on Wall Street thanks to strong housing data, got a further lift from a survey in China showing a quickening in activity in its vast factory sector.
Global equities sank and perceived safe-haven assets like U.S. Treasuries and gold gained on Friday as investors weighed hopes that Europe will continue to rebound from the coronavirus pandemic's economic damage against concerns over a record surge in new COVID-19 infections in the United States. The euro zone is "probably past" the worst of the economic crisis, European Central Bank President Christine Lagarde said, while urging authorities to prepare for a possible second wave. There were at least 39,818 new coronavirus cases across the United States on Thursday, the largest one-day increase yet.
Asian stock markets ground higher on Friday, but are set to end a choppy week with only slight gains as surging coronavirus infections cast a shadow over encouraging economic data and checked hopes for a swift global recovery. MSCI's broadest index of Asia-Pacific shares outside Japan <MIAPJ0000PUS> rose 0.5%, for a weekly gain of around 0.7%. Japan's Nikkei <.N225> rose 1.3% to sit 0.4% higher for the week.
Asian shares were mostly higher on Wednesday with another mood boost from Wall Street, but fears persist over the surge in coronavirus cases in parts of the world. Hong Kong's Hang Seng slipped 0.1% to 24,854.72, while the Shanghai Composite added 0.2% to 2,976.39. “The nuance though is that the recovery falls short of being entrenched," said Hayaki Narita of Mizuho Bank, adding trade contractions for various countries this year are expected to be the worst ever.
The dollar eased and global equity markets surged on Tuesday after reassurances on the U.S.-Sino trade deal and upbeat economic data from the United States and Europe brightened the prospect of a swift economic recovery. The euro hit a one-week high as higher-risk currencies, including the Australian dollar, rose after U.S. officials reaffirmed the trade deal following remarks by White House trade adviser Peter Navarro, who said late Monday the pact was "over." Beijing has actually stepped forward in a number of areas in a constructive way, Larry Kudlow, director of the national economic council, told Fox Business Network.
Demand for safe havens rose and global equity markets turned south on Friday after Apple Inc said it would temporarily shut 11 U.S. stores as coronavirus cases continue to rise, rekindling fears of a deadly second wave of the pandemic. News of Apple's move involving stores in Florida, Arizona, South Carolina and North Carolina doused hopes for a quick economic recovery that had spurred risk appetite earlier in the day, driving up European and U.S. stocks about 1%. Apple's decision portends more restrictions coming back as coronavirus cases rise and the reopening process stalls, said Edward Moya, senior market analyst at currency brokerage OANDA.