Europe Stocks, U.S. Futures Climb; Treasuries Gain: Markets Wrap

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Europe Stocks, U.S. Futures Climb; Treasuries Gain: Markets Wrap(Bloomberg) -- Stocks in Europe climbed alongside U.S. equity futures as investors clung to their cautious optimism on the prospect of easier monetary policy. The dollar slipped for a third day.The Stoxx Europe 600 turned higher as mining and carmaker shares rebounded. U.S. equity futures extended their advance after the S&P 500 index closed Thursday at a record high. Shares dipped in Australia and Japan and posted modest gains in Hong Kong, China and South Korea. Yields on 10-year Treasuries slipped from a one-month high.While the rally in risk assets got a fresh boost from Fed Chair Jerome Powell’s dovish comments, the strong CPI data Thursday in the U.S. offers a potential complication to policymakers in Washington prior to their decision at month’s end. Traders pulled back bets on a half-point cut in July after the inflation data.Meanwhile, an unexpected contraction in Singapore’s GDP sent a warning shot to the world economy on the impact of trade tensions. The data came after President Donald Trump complained that China hasn’t increased its purchases of American farm products, a promise he said he had secured at his G-20 meeting with the country’s president Xi Jinping last month.Elsewhere, WTI oil headed for its sixth advance in seven sessions as operators in the Gulf of Mexico braced for Tropical Storm Barry.Here are some key events coming up:U.S. producer prices are due on Friday.Here are the main moves in markets:StocksFutures on the S&P 500 Index climbed 0.2% as of 9:23 a.m. London time to the highest on record.The Stoxx Europe 600 Index advanced 0.2%, the first advance in more than a week.The U.K.’s FTSE 100 Index jumped 0.3%, the first advance in more than a week.The MSCI Asia Pacific Index dipped 0.1%.The MSCI Emerging Market Index declined 0.2%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.1%, the lowest in more than a week.The British pound climbed 0.2% to $1.2542, the strongest in more than a week.The Japanese yen advanced 0.2% to 108.33 per dollar, the strongest in more than a week.The euro increased 0.1% to $1.1264, the strongest in more than a week.BondsThe yield on 10-year Treasuries declined two basis points to 2.11%, the biggest fall in more than a week.Germany’s 10-year yield increased less than one basis point to -0.22%, the highest in more than a month.Britain’s 10-year yield declined one basis point to 0.826%.CommoditiesGold increased 0.5% to $1,410.92 an ounce.West Texas Intermediate crude gained 0.8% to $60.66 a barrel, the highest in more than seven weeks.\--With assistance from Adam Haigh.To contact the reporter on this story: Laura Curtis in London at lcurtis7@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Todd WhiteFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


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