Japanese stocks and US futures rose

Bloomberg – Japanese stocks rose alongside US stock futures on Friday, and Treasury bonds extended the previous session’s rally on signs of a cooling in the labor market and renewed concerns about regional lenders.

Stock futures rose in Hong Kong, while Australian shares opened flat after a mixed session in the United States on Thursday. The S&P 500 fell 0.2% on jobs and inflation data, while the high-tech Nasdaq 100 fell. It added 0.3% after Alphabet Inc. (GOOGL), Google’s parent company, for its AI tools.

Australian and New Zealand bonds rose after the 10-year Treasury yield fell by six basis points on Thursday. The dollar held firm after posting its biggest gain in two months in the previous session.

Investors are digesting the news of the postponement of the meeting between President Joe Biden and House Speaker Kevin McCarthy, scheduled for Friday. The delay reflects progress in discussions at the staff level, according to people familiar with the talks.

The data showed that US initial jobless claims reached their highest level since October 2021, while producer prices rose 0.2% in April, less than estimates by US economists for an increase of 0.3%. Reports suggest that the Fed’s tightening campaign may have a final impact on inflation, as the central bank walks a tightrope between curbing rising prices and turning the economy toward a slowdown.

However, there is still a lot of uncertainty, which encourages investors to hedge against volatility. “We have to end the banking crisis,” JPMorgan CEO Jamie Dimon said in an interview with Bloomberg Television, adding that regulators should do “whatever it takes to make it better.” Expect more regulation of lenders on the way.

Copper fell to its lowest level since November as commodity prices slumped on renewed concerns about China’s economic recovery after credit and new loans fell in April.

next to, The Bloomberg Commodities Index posted its fourth weekly decline on weak US and Chinese economic data, the longest streak since September.

Oil rose, after two days of decline, as the US indicated that it may start replenishing strategic oil reserves after June.

On the bright side, US-listed Chinese shares posted their biggest gains in three months, after JD.com earnings boosted e-commerce stocks, and US National Security Adviser Jake Sullivan meets with China’s top diplomat Wang Yi in an effort to ease escalating tensions between the two countries.

Alvin Ngan, an analyst at Zhongtai Financial International Ltd., said: , “The risk appetite in the stock market is likely to be boosted by the news of the meeting between the United States and China.” which foreign investors deal with at a relatively high rate, they will get a boost.”

Adani Group continues to struggle so MSCI, the global index manager, will remove two of its companies from its India benchmark. This is a potential blow to your values Attempting to recover from the decline caused by the short selling report earlier in the year. MSCI also said that 86 stocks will be added to its All Country World Index, and 39 stocks will be removed.

Separately, the Bank of England raised its benchmark interest rate to the highest level since 2008 and said further increases may be necessary if inflationary pressures persist.

Some of the major movements of the markets:

procedures

S&P 500 futures were up 0.2% at 10:03 a.m. Tokyo time. The S&P 500 fell 0.2%.

Nasdaq 100 futures rose 0.2%. The Nasdaq 100 rose 0.3%.

Hang Seng Index futures rose 0.7%.

Japan’s Topix rose 0.4%.

The Australian S&P/ASX 200 is little changed.

Futures on the Euro Stoxx 50 rose 0.3%.

Currency exchange rate

The Bloomberg Spot Dollar Index hasn’t changed much

The euro was trading at 1.0921.

The Japanese yen remained unchanged at 134.53 per dollar

The yuan was trading at 6.9583 to the dollar.

Digital currencies

Bitcoin rose 0.2% to 27,051.66.

Ether rose 0.2 percent to settle at 1,800.68 points.

bonds

The yield on the 10-year Treasury fell 1 basis point, to 3.38%.

The yield on the Australian 10-year note fell six basis points, to 3.33%.

raw materials

A barrel of WTI crude rose 0.6%, to 71.32.

The price of spot gold has not changed

This article was produced in association with Bloomberg Automation.

— in collaboration with Peyton Forte, Emily Graffeo, and Mengchen Lu.

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