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European stocks have climbed, US stock futures have plummeted and Asian stocks have been mixed since the latest tariff hikes for China began. The dollar rose with the gold.
Stoxx Europe 600 advanced for a third consecutive session, led by shares in telecommunications and healthcare. Shares in Japan, Hong Kong and Australia plummeted a day after President Donald Trump's $ 110 billion debt on Chinese imports came into force alongside opposition from China. However, stocks in Shanghai have soared as authorities have pledged to support liquidity and growth. The S&P 500 futures far more than the previous 1.1% decline.
Cashboxes will not trade and US stock markets will be closed for Labor Day holiday. Treasury futures remained lower as the dollar rose for the sixth consecutive day. In the UK, the pound lengthened losses and the gold plunge rose a day before Parliament convened again in a possible reflection on a possible Brexit without a deal.
Investors are still struggling with a volatile August that saw a collapse in Treasury earnings and a slump. for stocks worldwide. Crude oil has been struggling for traction since its first monthly decline since May amid fears that declining global economic growth will hurt fuel demand. And in China, the decline in the official index of purchasing managers on Saturday highlighted the pressure on the world's second largest economy from escalating trade tensions with the US
. In addition, keeping a lid on the mood is a demonstration in Hong Kong, where a senior official said he would not rule out imposing an emergency law in an attempt to fight back control after protesters caused major disruption at the city's international airport over the weekend.
"Extensive market activity and trading volume are likely to be somewhat dampened today," Simon Ballard, a macro strategist at First Abu Dhabi Bank, wrote in a note. While this should signal a quiet start to the week, "the net cautious tone seems to dominate investor sentiment," he said.
Elsewhere, the southeastern coast of America stopped at Hurricane Dorian, bound as the most powerful storm that hit the earth anywhere in the Atlantic after causing enormous damage to the Bahamas. The Argentine government requires currency controls to stop the outflow of dollars outside the country, as it is on the verge of default. The Turkish pound is rising after data show that the economy contracted less than expected in the second quarter.
Here are some key developments:
Australia sets monetary policy on Tuesday. Federation spokesmen include John Williams at the New York Fed on Wednesday and Fed Chairman Jerome Powell on Friday. A forecast for US job reports on Friday will show that wages for the farm increased by 158,000 in August, just over a month earlier. The employment situation is projected to keep unemployment at 3.7%, with the average hourly rate of earnings slowing down to 3.0%.
These are the major market movements:
Budgets for the S&P Index 500 decreased by 0.2% at 8:25 am New York time. The Stoxx Europe 600 rose 0.5%. Germany's DAX index was up 0.2%. Britain's FTSE 100 rose 1.3%. The MSCI Asia Pacific Index fell 0.4%.
The Bloomberg Dollar Spot index advanced 0.2%. The euro fell 0.1% to $ 1,097. The British pound fell 0.7% to $ 1.2072. Japanese yen fell 0.1% to 106.36 per dollar. The Hong Kong dollar was slightly changed to $ 7.8427.
Germany's 10-year yield increased by one basis point to -0.69%. Britain's 10-year yield fell five basis points to 0.432%.
gold gained 0.3% to $ 1524.45 an ounce. Crude oil fell 0.3% to $ 59.08 a barrel. Iron ore jumped 7.3% to $ 87. 30 per metric ton.
– With the assistance of Catherine Chiglinski, Adam Haig and Andrea Papuk.
To contact the reporter on this story: Laura Curtis in London at firstname.lastname@example.org
To contact the editor responsible for this story: Samuel Potter at email@example.com, Todd White
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