U.S. Futures Advance With Stocks in Europe, Asia: Markets Wrap

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U.S. Futures Advance With Stocks in Europe, Asia: Markets Wrap(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.U.S. stock-index futures edged higher after shares advanced broadly in Europe and Asia as China moved to lessen the trade war’s repercussions. Oil rose with the dollar.Contracts on three major U.S. equity indexes fluctuated before turning higher, with Amazon.com shares dippiing in the pre-market after Bloomberg News reported an antitrust probe had begun. Yields on 10-year Treasuries and bunds both slipped from one-month highs reached earlier Wednesday. U.S. President Donald Trump urged the Federal Reserve to cut interest rates to “zero, or less,” in a tweet.The euro headed for its biggest drop in eight sessions. Gains in the Stoxx Europe 600 Index came in part from the strong rotation into cyclical sectors that had lagged behind this year, such as automaker and banking shares, and as China announced a range of U.S. goods to be exempted from 25% extra tariffs put in place last year.Equities are rebounding in September on hopes for fresh monetary stimulus from the European Central Bank on Thursday and the Fed next week, while market-supportive measures by China helped lift sentiment. Strong monetary easing is not a given, though, with some investors dialing back their expectations of accommodation and bond traders pulling back from the more bullish sentiment of August.“We are primed for a little bit of disappointment,” Jeff Boswell, a fund manager at Investec Asset Management, told Bloomberg TV in Singapore. “On the QE front, whilst we’ve been expectant of something -- certainly on the corporate bond-buying side that the market’s been expecting -- it is unlikely to come tomorrow.”Elsewhere, oil futures climbed alongside gold. South Korean infrastructure shares outperformed after the departure of President Donald Trump’s national security adviser, spurring speculation the U.S. may show conciliatory gestures toward China and North Korea.Here are some key events coming up this week:The ECB policy meeting Thursday is widely expected to see a cut to interest rates and a review of all options, including QE. Policy makers will also publish forecasts for growth and inflation. ECB President Mario Draghi will hold a press conference.U.S. data for August CPI is due Thursday.These are the main moves in markets:StocksThe Stoxx Europe 600 Index rose 0.8% as of 8:11 a.m. New York time.Futures on the S&P 500 Index climbed 0.2%,.The U.K.’s FTSE 100 Index jumped 1%.The MSCI All-Country World Index increased 0.3%.The MSCI Emerging Market Index gained 0.7%CurrenciesThe Bloomberg Dollar Spot Index jumped 0.1%.The euro sank 0.4% to $1.1003.The British pound decreased 0.1% to $1.2341.The Japanese yen depreciated 0.2% to 107.71 per dollar.BondsThe yield on 10-year Treasuries decreased one basis point to 1.73%.The yield on two-year Treasuries dipped one basis point to 1.67%.Britain’s 10-year yield gained one basis point to 0.649%.Germany’s 10-year yield fell one basis point to -0.56%.Japan’s 10-year yield jumped two basis points to -0.199%.CommoditiesWest Texas Intermediate crude increased 0.9% to $57.94 a barre.Gold increased 0.5% to $1,492.91 an ounce.Iron ore gained 2.6% to $91.09 per metric ton.\--With assistance from Adam Haigh.To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, Robert BrandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


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