Stocks Rise on Earnings Boost; Treasuries Rally: Markets Wrap

Publikuota: 2018-04-27
Brendan McDermid („Reuters“ / „Scanpix“) nuotr.
Brendan McDermid („Reuters“ / „Scanpix“) nuotr.
 

Asian stocks climbed as the latest bout of earnings results buoyed sentiment in the technology sector and traders kept an eye on the historic meeting between the leaders of North and South Korea. The dollar steadied and Treasuries extended gains.

Most equity markets across the region advanced and Nasdaq futures were boosted after companies including Amazon.com Inc., Intel Corp. and Baidu Inc. all forecast second-quarter profit that topped analysts’ forecasts. The yield on 10-year Treasury yields edged further below 3 percent, spurring declines in most Asian equivalents. The yen was little changed after the Bank of Japan maintained its stimulus, as expected, while the won climbed against the dollar with the Korean summit in focus.

Investors in the world’s biggest bond market are weighing how much further U.S. yields can rise after they touched the highest levels in four years this week. Solid earnings results are providing fodder to equity bulls, with global stocks still about 5 percent below the all-time highs reached earlier this year.

Elsewhere, the euro held losses after European Central Bank President Mario Draghi said momentum had softened in the economy at the start of the year. Oil fell back below $68 as investors tried to assess whether President Donald Trump will pull the U.S. from the Iran nuclear deal and reimpose sanctions on OPEC’s third largest producer.

These are some important events remaining this week:

U.S. GDP data are due Friday. Bank of Japan Governor Haruhiko Kuroda holds a press conference on the BOJ’s latest policy decision.

And these are the main moves in markets:

Stocks

The MSCI Asia Pacific Index rose 0.6 percent as of 3:07 p.m. Tokyo time. Topix index added 0.3 percent. Hong Kong’s Hang Seng Index rose 0.7 percent. Kospi index climbed 0.8 percent. Australia’s S&P/ASX 200 Index rose 0.6 percent. Futures on the S&P 500 Index fell 0.2 percent.Currencies

The Bloomberg Dollar Spot Index fell less than 0.05 percent. The Japanese yen rose less than 0.05 percent to 109.28 per dollar. The euro rose 0.1 percent to $1.211.

Bonds

The yield on 10-year Treasuries fell one basis point to 2.98 percent. Japan’s 10-year yield fell less than one basis point to 0.058 percent. Australia’s 10-year yield declined three basis points to 2.832 percent.

Commodities

West Texas Intermediate crude fell 0.3 percent to $67.98 a barrel. Gold rose less than 0.05 percent to $1,317.03 an ounce. LME copper fell 0.3 percent to $6,946.00 per metric ton.

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