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Stocks rise to fresh trading hopes; Dollar downturns: Packaging markets



(Bloomberg) – US index futures have jumped alongside European stocks as China this week revived hopes of progress in trade talks with America, despite many potential tilts.

The contracts for the S&P 500, Dow Jones and Nasdaq 100 indexes extended profits after a report that China was still open to a partial trade with the US. In Europe, technology companies and manufacturers led a large-scale advance company for the Stoxx Europe 600 index. Benchmark equity ratios had previously fallen in Asia, with the exception of Shanghai and Mumbai. The dollar weakens after two days of profits.

High-level trade talks between the US and China resume in Washington on Thursday, even as relations between the two countries deteriorate. Although a broad deal seems unlikely, China has signaled that it is open to a limited deal, provided no further tariffs are imposed on President Donald Trump, according to an official. In return, Beijing will offer non-essential discounts such as buying agricultural products without giving in to important points, the official said, without providing further details.

The Trump administration on Tuesday closed visa bans on some Chinese officials and blacklisted Chinese technology companies. Bloomberg also announced that the White House is moving ahead with discussions about curtailing US government pension investments in China.

The last overshadowed by the US and China was a comment by Federal Reserve Chairman Jerome Powell stating that the central bank would resume Treasury purchases. securities to avoid a recurrence of recent turmoil in the money markets, while hinting at the possibility of another reduction in interest rates. The minutes of the last Fed meeting will be published tonight, providing an additional look at the thinking of politicians before their next meeting at the end of the month.

"Judging by the American attack on Chinese companies this week, trade talks continue. to be less constructive than you think, increasing the risks to global growth, "notes Nemo Ramhelavan-Bana, an economist at FirstRand Bank in Johannesburg, in a note to clients. "In the absence of fiscal expansion, countries will abandon central banks to contain the blow, providing further policy adjustments." daily reference rate. Crude Texas rose above $ 53 a barrel. The Turkish lira faltered as the country's military began to cross the border in Syria, as previously warned.

Here are some key events that appear this week:

On Wednesday, minutes will be released from the last meeting of the Federal Council's policy committee setting interest rates. The European Central Bank's latest collection meeting is due on Thursday. Chinese President Xi Jinping is scheduled to meet with Prime Minister Narendra Modi in India on Friday and Saturday for an informal summit. US releases key inflation measure on Thursday.

Here are the major market movements:

Stocks

The Stoxx Europe 600 Index gained 0.4% at 7:08 New York time. Future values ​​of the S&P 500 rose 0.8%. The UK's FTSE 100 Index rose 0.5%. The MSCI Worldwide Index slightly changed. MSCI's Emerging Markets Index fell 0.3%

Currencies

Bloomberg Dollar Spot Index Declined The euro rose 0.2% to $ 1,083.

The British pound rose 0.1% to $ 1,2227.

The Japanese yen fell 0.3% to 107 , $ 36 per dollar.

Bonds

Yields on 10-year treasuries gained two basis points to 1.55%. with three basis points Germany's 10-year yield rose three basis points to -0.57%, Japan's 10-year yield increased by less than one basis point to -0.2%.

Texas Intermediate Crude West rose 0.9% to $ 53.10 a barrel Gold reduced 0.2% to $ 1502.54 an ounce Ore sank 4% to $ 86.10 a metric tone. Adam Hay.

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Todd White

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