Stocks in Asia extended their best week since March and European index futures were higher as investors awaited U.S. inflation data and earnings from some of Americas biggest banks.
Shares advanced at the end of a week characterized by dovish comments from U.S. policy makers that also weighed on the dollar. The Dow Jones Industrial Average reached a fresh high as Federal Reserve Chair Janet Yellen reiterated her intention to tighten only gradually. The yield on 10-year Treasuries remained down for the week, at 2.34 percent. The yen weakened, though was still in line for its first weekly gain in five.
U.S. consumer inflation due later Friday will be scrutinized as Yellen said its premature to conclude that the underlying trend of prices is falling short of the Feds 2 percent target. Investors also get clues on how choppy data during the second quarter translated into corporate earnings when JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. report results. U.S. retail sales and industrial production figures are also due.
Mario Draghi will attend this years U.S. Federal Reserve symposium in Jackson Hole, opening the possibility that he could send a message on the European Central Banks bond-buying program as the euro area becomes less reliant on stimulus.
Here are the main moves in markets: Currencies and bonds
The pound and euro were up 0.1 percent as of 7:20 a.m. U.K. time. The yen was steady at 113.31 per dollar and the Bloomberg Dollar Spot Index was down 0.1 percent near its lowest since September. The Aussie rose 0.4 percent to 77.58 U.S. cents. The Thai baht gained 0.2 percent as it headed for its biggest weekly advance since May. The 10-year U.S. Treasury yield fell one basis point to 2.34 percent. The yield on 10-year Australian notes rose three basis points to 2.72 percent.
Euro Stoxx 50 futures rose 0.1 percent, pointing to further gains after the underlying gauge jumped 1.8 percent over the past two days. Futures on the FTSE 100 and S&P 500 Index were little changed. The MSCI Asia Pacific Index rose 0.3 percent, extending this weeks advance to 2.6 percent. Japans Topix Index added 0.4 percent. The Nikkei 225 lagged, rising just 0.1 percent as weak third-quarter earnings dragged Fast Retailing Co. lower. See chart here. Hong Kongs Hang Seng gained was steady after advancing 4 percent this week, the most in a year. The Shanghai Composite Index was down 0.1 percent.
WTI crude rose 0.2 percent to $46.15 a barrel, taking its weekly advance to 4.3 percent. Gold was up 0.1 percent at $1,218.53 an ounce.Rašyti komentarą