Tech Pushes Stocks Higher; Dollar Extends Rise: Markets Wrap

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Tech Pushes Stocks Higher; Dollar Extends Rise: Markets Wrap(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The technology, energy and health care sectors led U.S. stocks higher after shares advanced broadly in Europe and Asia. The dollar strengthened, while benchmark Treasury yields lingered near one-month highs.The three major U.S. equity indexes turned green, as Apple’s cheaper priced iPhone gave analysts reason to cheer. 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.”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:\--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: Jeremy Herron at, Dave LiedtkaFor more articles like this, please visit us at©2019 Bloomberg L.P.

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