S&P Futures Up, Global Stocks Mixed
2020年5月27日 - 5:15PM
Dow Jones News
By Frances Yoon and Anna Isaac
S&P 500 futures rose, alongside most European stock indexes,
as investors weighed the impact of rising U.S.-China trade tensions
against signs that economic activity is gathering steam.
U.S. futures contracts tied to the S&P 500 rose 0.6%
Wednesday.
European stocks also ticked higher. The pan-continental Stoxx
Europe 600 rose 0.4%, joined in positive territory by London's FTSE
100 and other regional indexes.
The yield on the benchmark 10-year U.S. Treasury fell to 0.685%
from 0.697% Tuesday.
The Dow Jones Industrial Average climbed more than 500 points
Tuesday, as trading resumed after the three-day holiday weekend.
Restaurant bookings and spending on hotels and airlines appear to
be picking up in the U.S., coinciding with a decline in the daily
number of new coronavirus infections.
Japan's Nikkei 225 gained 0.7% Wednesday, while Australia's
S&P/ASX 200 and South Korea's Kospi Composite were little
changed. China's Shanghai Composite drifted 0.3% lower.
Steve Englander, head of North America macro strategy and Group
of 10 currencies at Standard Chartered Bank, said investors were
buying back assets that they sold off at the height of the
pandemic.
"There is some confidence in markets that the worst has passed
with the disease and that a worst-case scenario -- where, for
example, we are locked up for six months -- is now assigned a lower
probability," he said.
But financial markets are still fragile, said Daniel Gerard,
senior global multiasset strategist at State Street Global Markets,
with investors watching news on issues such as the pandemic,
including vaccine progress, and U.S.-China relations.
"It's hard enough in this pandemic to get trade going on because
of an uneven recovery," Mr. Gerard said. "If we add complications
of the trade war, it will delay a recovery."
Hong Kong's Hang Seng Index traded 0.8% lower. The market is
coming off two days of gains that recouped some of the steep losses
registered Friday, after China unveiled plans to impose a
national-security law on the city.
Mr. Gerard said the prospect of renewed unrest in Hong Kong
added to growth concerns for some heavyweight components of the
Hang Seng, such as financial stocks and developers.
On Tuesday, the head of China's military garrison in Hong Kong
said his soldiers would safeguard the country's national-security
interests in the city, reinforcing an aggressive push by the
Communist Party to tighten its grip on the former British
colony.
U.S. crude-oil prices fell 1.6% to $33.76 a barrel, after rising
for seven of the past eight sessions.
Write to Frances Yoon at frances.yoon@wsj.com and Anna Isaac at
anna.isaac@wsj.com
(END) Dow Jones Newswires
May 27, 2020 04:00 ET (08:00 GMT)
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