Daily Outlook


Dollar declines, stocks rise, Trump wants deal with China

Stocks in Asia and U.S. futures rallied Wednesday amid optimism about the potential for progress in trade talks between Washington and Beijing, which were extended into a third day. The dollar dipped. China and Hong Kong stocks led gains on news of further stimulus efforts. Futures on the S&P 500 reached their highs of the session after an Oval Office address by President Donald Trump yielded no new moves in his dispute with Congress over funding a wall on the Mexican border; there had been speculation of a polarizing declaration of a national emergency. European futures indicated markets there will rise. Ten-year Treasury yields retained gains made in recent days. Oil held above $50 a barrel in New York.

Developments in U.S.-China trade relations remain a focal point, with Trump increasingly eager to strike a deal to help perk up financial markets, people familiar with White House deliberations told Bloomberg. The current round of sub-ministerial talks are expected to conclude Wednesday.

Japan’s Topix index climbed 1.1 percent at the 3 p.m. close in Tokyo. Australia’s S&P/ASX 200 Index rose 1 percent. South Korea’s Kospi index added 1.8 percent. Hong Kong’s Hang Seng Index gained 2.4 percent. The Shanghai Composite rose 1.4 percent. S&P 500 futures climbed 0.4 percent. The S&P 500 Index rose 1 percent Tuesday. FTSE 100 futures rose 0.7 percent. The MSCI Asia Pacific Index was up 1.4 percent.

Stocks Rally on Trade Progress as Dollar Slips, Bloomberg, Jan 09

Source: FxPro

Article raiting
Home