Bloomberg
Published Sep 20, 2019 03:26AM ET
Updated Sep 20, 2019 06:26AM ET
U.S. Futures, Europe Stocks Edge Up; Dollar Slips: Markets Wrap
(Bloomberg) -- European stocks and U.S. equity futures struggled for traction on Friday as a busy week of central bank meetings drew to close, with focus now likely to shift back to the trade war. The pound strengthened and Treasuries rose.
The Stoxx Europe 600 Index edged higher overall led by retail shares, though national gauges were mixed and range bound. Contracts on the three main U.S. equity indexes eeked out gains after the S&P 500 Index closed less than 1% from a record high on Thursday. Sterling rose a second day as European Commission President Jean-Claude Juncker expressed optimism a Brexit deal could be reached by Oct. 31.
Benchmark Treasuries advanced for a fifth day while the yuan climbed after the People’s Bank of China planned to drain funds via a bill sale in Hong Kong. Oil prices nudged up amid still-elevated tensions in the Middle East.
After a slew of monetary policy decisions this week, investors attention is poised to turn to the outlook for negotiations between the U.S. and China as trade deputies from both nations prepare to meet. Concerns linger about the state of the global economy, and the OECD this week lowered its world growth forecast.
“Stocks can continue to rise because they are supported by solid and pretty sturdy fundamentals, but there will be a lot more volatility along the way,” Kate Warne, investment strategist at Edward Jones, told Bloomberg TV. “There’s a lot more monetary stimulus coming into the system,” she said.
Elsewhere, Asian stocks saw modest gains on reduced volumes, except in India, where equities soared after the country cut its corporate tax rate. The rupee also climbed. Chinese and Hong Kong shares were flat as China’s modest cut to a reference rate for bank loans failed to impress investors.
Some key events to keep an eye on for the remainder of this week:
Stocks
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.