Global Indices Archives - Page 29 of 104

The Nikkei closes near the highs for the day as losses are trimmed

The risk mood at the tail-end of Asian trading is one that looks to be getting better as the market digests the post-Powell narrative. The BOJ has certainly helped to ease concerns in the Japanese market but Treasuries are still the key spot to watch.

Though at some point you have to wonder, where is the ceiling here before the Fed really feels the need to offer a firmer reaction? That said, the market may gather a sense of calm for now but it is still early in the day to be calling for a major turnaround.

However, given that the Fed is still pumping so much liquidity into the market and that we are set to embrace Biden’s stimulus package, are things really so bad?

The Hang Seng has also erased earlier losses to turn flat while the Shanghai Composite is trading up 0.3% going into the closing stages. Elsewhere, US futures have also pared heavier declines earlier on to keep around flat levels at the moment.

European shares close the day with mixed results

04-Mar-21 10:24 pm

Anirudh Sethi

German DAX, +0.2%. France’s CAC unchanged,

The major European shares are closing the day with mixed results. The provisional closes are showing:

German DAX, -0.2%
France’s CAC unchanged
UK’s FTSE 100, -0.4%
Spain’s Ibex, +0.2%
Italy’s FTSE MIB, +0.1%

in the European debt market, the benchmark 10 year yields are lower with the UK 10 year down -4.5 basis points.

A snapshot of the US stock market as traders prepare for Fed chair Powell speaking at the top of the hour:

S&P index +5 points or 0.13% at 3824.91
NASDAQ index -25 points or -0.17% at 12970
Dow industrial average up 76 points or 0.24% at 31347

In the US debt market, yields are marginally lower, with the 30 year bond yield is down -2.1 basis points:

In the forex market, the CAD has moved to the strongest of the majors. The CHF remains the weakest followed closely by the JPY. The USD remains mixed but has shifted a little more to the weaker bias. Nevertheless it remains higher vs. a CHF, JPY and EUR, and lower worsening CAD, AUD, NZD and GBP.

Treasury yields retreat slightly to start the session

04-Mar-21 01:20 pm

Anirudh Sethi

10-year Treasury yields fall by nearly 2 bps to 1.461%

Risk sentiment is keeping on the defensive going into European trading but there’s an air of calm in the bond market and the market focus may shift towards that, or at least the capitulation in equities may hit the pause button for now.

The bond market is eyeing Fed chair Powell’s speech later today and with the possibility of a pushback, the rise in yields this week is at least stalling for the time being.

Over to equities, we are also seeing US futures pare losses further with both S&P 500 futures and Nasdaq futures being down by just 0.2% currently.

Nikkei 225 closes lower by 2.13% at 28,930.11

04-Mar-21 01:08 pm

Anirudh Sethi

The Nikkei falls to near one-month lows

A rough day for Asian equities as the decline in US stocks yesterday, as well as US futures today, is keeping risk sentiment in a rough spot at the moment.

Of note, the Nikkei also closes below a key trendline support and that might see sellers keep the momentum. But a lot will ride on Fed chair Powell’s speech later today.

Elsewhere, the Hang Seng is down 2.4% and the Shanghai Composite down 2.1%. Meanwhile, S&P 500 futures are down 0.5% and Nasdaq futures down 0.8%.

European shares end with mixed results

03-Mar-21 10:47 pm

Anirudh Sethi

German Dax falls short of a record close despite a new intraday all-time high

The German DAX is closing the day up 0.2%. However that is short of the all-time high close of 14109.48. The index did however reach a new all-time intraday high price of 14197.49. That extended above the old February 8 high of 14169.49.

A look at the provisional closes in Europe are showing a mixed results:

German DAX, +0.2%
France’s CAC, +0.3%
UK’s FTSE 100, 0.8%
Spain’s Ibex, -0.2%
Italy’s FTSE MIB, -0.1%

in other markets as European/London traders look to exit:

spot gold has rebounded off its lows that got close to the $1700 level at $1702.04. The precious metal is currently trading at $1720.73 $-17.78 or -1.03%
Spot silver is trading down $0.40 or -1.51% at $26.35. The low price reached $25.84. The high prices up at $26.82
WTI crude oil futures are trading up $1.67 or 2.79%. This despite a surge of 21.563 million barrels has refineries reopened after the harsh Arctic freeze.
Bitcoin is up 7.95% or $3774 at $51,223. The high price extended to $52,666. The low price was way down at $47,373.29

Nikkei 225 closes lower by 0.86% at 29,408.17

02-Mar-21 11:42 am

Anirudh Sethi

A softer mood in Asia as the rebound yesterday falters

The risk mood is keeping on the softer side, after China warned of bubbles and financial risks earlier – tempering with the mood in Asian equities today. For the Nikkei, the key trendline support is still holding for the time being.

The Hang Seng is down 1.5% while the Shanghai Composite is down 1.8%. Elsewhere, US futures are also looking more subdued as the bounce yesterday hits a stumbling block despite the bond market keeping a calmer mood so far on the day.

In the major currencies space, the dollar is more bid across the board with the loonie lagging behind as oil prices are also tracking lower just below $60 in anticipation of the OPEC+ meetings later on in the week.