Markets

Asia Stocks to Start Mixed as Stellar Run Assessed: Markets Wrap

Asian stocks faced a mixed start to Thursday trading after surging to the highest level in almost 10 years, with investors assessing the strength of company earnings before American labor-market data provides the latest clues on the health of global growth.

The Dow Jones Industrial Average broke 22,000 for the first time, lifted largely by Apple Inc.’s post-earnings gain, in an otherwise lackluster day for U.S. stocks. Tesla Inc. rose in late trading as the company burned less cash than forecast. The euro, the best-performing Group-of-10 currency this year, maintained its surge against the dollar and the 10-year Treasury yield climbed to 2.27 percent.

Corporate results are dominating sentiment this week with investors betting profit growth warrants higher equity prices. Friday’s report on the U.S. employment market may provide the next inflection point, as investors look for clues on the strength of the world’s largest economy and the Federal Reserve’s next policy move.

Terminal users can read more in our Markets Live blog.

Here are some key upcoming events:

  • Bank of England Governor Mark Carney may signal a more hawkish tone at its quarterly Inflation Report on Thursday. The central bank will likely keep rates on hold.
  • U.S. jobs data on Friday will probably show employers added about 180,000 workers in July.

Here are the main moves in markets:

Stocks

  • Futures on Japan’s Nikkei 225 were flat in Singapore trading, while they declined on Hong Kong’s Hang Seng Index. Contracts on Australia’s S&P/ASX 200 Index added 0.2 percent.
  • The S&P 500 Index added 0.1 percent and the Dow rose 0.2 percent. Tesla shares were up more than 7 percent in after-hours trading.

Currencies 

  • The Bloomberg Dollar Spot Index slipped 0.1 percent on Wednesday.
  • The euro was at $1.1856 after climbing 0.4 percent in the previous session.

Bonds 

  • The yield on 10-year Treasuries advanced two basis points to 2.27 percent on Wednesday.
  • Germany’s 10-year yield held at 0.49 percent.

Commodities

  • West Texas Intermediate crude was flat in early trading. It rose 0.9 percent to settle at $49.59 a barrel on Wednesday. Record demand for gasoline helped ease concerns that increasing crude production from America’s shale fields will worsen a global glut.

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