Bloomberg
Published Jan 10, 2019 07:19
Updated Jan 10, 2019 07:34
Global Stock Rally Pauses; Treasuries Edge Higher: Markets Wrap
(Bloomberg) -- The post-Christmas rally in global equities took a break on Thursday in Asia in the absence of any concrete details on U.S.-China trade negotiations. The yen and Treasuries ticked higher.
Stocks fell in Japan and futures pointed to lower starts in the U.S. and Europe, while Chinese equities fluctuated. The offshore yuan climbed to the strongest since August as the U.S. and China laid the ground for resolving trade issues, though S&P 500 Index contracts declined as some investors expressed disappointment at negotiations that seem likely to continue indefinitely. The dollar was steady and crude pulled back after climbing above $52 a barrel and entering a bull market.
Global stocks have rallied since the start of the year amid optimism tensions are thawing between the U.S. and China on trade and commentary from the Federal Reserve showed policy makers have shifted to a more cautious approach to further interest-rate increases. Still, concern surrounding the partial U.S. government shutdown continues to weigh on sentiment ahead of earnings season. And China inflation data on Thursday showcased slowing growth in the world’s No. 2 economy.
“Volatility is here to stay but you use volatility to your advantage to take some chips off the table when you start to see a bit of a rebound in the market,” Nathan Thooft, head of global asset allocation at Manulife Asset Management, told Bloomberg TV in Hong Kong.
Meanwhile, the U.S. government shutdown is dragging on. President Donald Trump said his party was “very unified” behind his plan to keep the government closed until he gets funding to build a wall along the Mexican border, which is at the center of the dispute. He then walked out of a meeting with Democratic congressional leaders Nancy Pelosi and Charles Schumer, calling it a “total waste of time.”
Here are some events investors may focus on this week:
These are the main moves in markets:
Stocks
Currencies
Bonds
Commodities
Written By: Bloomberg
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