6.9 C
Alba Iulia
Thursday, October 1, 2020

Inventories decline as the virus continues to spread: the winding of markets

Must Read

Penn National will plunge 57% as weak fundamentals overshadow “Internet meme” rally, says Deutsche Bank

Getty Images / Cliff Hawkins An influx of interest from retail investors for Penn National Gaming has pushed...

British coronavirus live: Poland and Turkey added to England’s quarantine list; Starmer urges you to rethink the 10pm closing | Policy

Sir Keir StarmerThe decision to publicly declare itself in favor of a rethinking of the mandatory 22:00 closing time...

Hectic Game 2 of the Yankees, Carlos Correa and Dominance of the Lakers

The Yankees closed a two-game sweep of Cleveland on Wednesday night. We explain how they got...

(Bloomberg) – Asian stocks retreated and US equity futures fluctuated, the continued spread of the coronavirus outweighing signs of a recovery in the Chinese economy.

Inventories fell more than 1% in Japan, Hong Kong and Australia, and fell more modestly in China, where markets reopened after two days of vacation. The S&P 500 contracts hovered between gains and losses. South Korean stocks fell after the country’s finance minister ruled out another budget for this year. T-bills were stable and the dollar fell.

Investors are preparing to continue last week’s sense of risk as coronavirus cases exceed 10 million worldwide and a resurgence in the United States continues to beat states like Texas, Arizona and Florida. The data overshadowed data showing that Chinese industrial companies experienced the first monthly profit increase since November.

“The recovery is going to be much slower and much more patchy than most people think,” said David Hunt, president and CEO of PGIM Inc., on Bloomberg TV. “The markets are valued for a much sharper V-shaped recovery than we think is likely.”

Meanwhile, the Chinese central bank has announced that it will implement new monetary tools to ensure that liquidity reaches the real economy. The People’s Bank of China has said it will increase the proportion of small business loans, credit and manufacturing, and continue to lower lending rates, while reiterating that it will keep the yuan stable.

Here are some key events to come:

New York Fed Chairman John Williams moderates discussion with IMF Managing Director Kristalina Georgieva and Federal Reserve Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin on Monday the House Financial Services Committee. data collection problems that may seem to underestimate the true extent of unemployment. Friday brings the Independence Day of the United States. Markets are closed, as are government offices.

These are the main market developments:

Stocks

The S&P 500 futures fell 0.1% at 1 p.m. in Tokyo. The Topix index in Japan fell 1.7%, the Hang Seng index in Hong Kong fell 1.5%, the Shanghai Composite lost 0.7%, the Kospi in South Korea fell 1 , 6% and Australia’s S & P / ASX 200 index fell 2%.

Currencies

The yen was at 107.14 per dollar, up 0.1% .The offshore yuan rose 0.1% to 7.0765 per dollar. The euro bought $ 1.1240, up 0.2%.

Obligations

The yield on 10-year treasury bills remained at 0.64%. Australia’s 10-year yield remained stable at 0.87%.

Raw materials

West Texas Intermediate crude oil lost 1.9% to $ 37.76 a barrel. Gold was $ 1,772.73 an ounce, little change.

bloomberg.com“data-reactid =” 39 “> For more articles like this, visit us at bloomberg.com

Subscribe now to stay one step ahead of the most trusted source of business information. “data-reactid =” 40 “>Subscribe now to stay ahead with the most trusted source of business news.

© 2020 Bloomberg LP

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Penn National will plunge 57% as weak fundamentals overshadow “Internet meme” rally, says Deutsche Bank

Getty Images / Cliff Hawkins An influx of interest from retail investors for Penn National Gaming has pushed...

British coronavirus live: Poland and Turkey added to England’s quarantine list; Starmer urges you to rethink the 10pm closing | Policy

Sir Keir StarmerThe decision to publicly declare itself in favor of a rethinking of the mandatory 22:00 closing time for pubs (see 16:09) must...

Hectic Game 2 of the Yankees, Carlos Correa and Dominance of the Lakers

The Yankees closed a two-game sweep of Cleveland on Wednesday night. We explain how they got there, including CC's perspective on...

How the “Friends” theme helped the monkeys come together

The monkeys is Friends are two of the TV shows that define their respective eras, but...

Containment on Bobcat Fire Climb, 83 Homes Destroyed – CBS Los Angeles

MONVROVIA (CBSLA) - Containment numbers for the Bobcat Fire, which has been burning for more than three weeks in the Angeles National Forest, jumped...

More Articles Like This