3 May 2017. Daily Markets Updates

dailyheadlines
Good Morning All;
we’ll se the Headlines-International.
Apple weighs on Nasdaq futures as FOMC awaited. Nasdaq futures were weakened by a drop in Apple Inc. as traders awaited commentary from the Federal Reserve policy meeting, with a mixed start expected for Asian stocks where many of the largest markets are closed for a holiday.
China stock traders are most defensive in years on growth doubts. They’ve been loading up on companies with earnings that are less reliant on economic growth, and ditching banks and oil producers. Gauges of consumer staples and health-care shares have surged to the highest levels relative to the CSI 300 Index since at least 2013 in recent days, while a measure of financial companies is near the lowest since November 2015. A crackdown on leveraged trades by regulators has only made investors more defensive.
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Market in Details
FX:
The yen slid 0.2 percent to 112.03 per dollar, touching the lowest since March 2 follow a 0.3percent slide on Monday.
The Bloomberg Dollar Spot Index slipped 0.1 percent.
The euro strengthed 0.3 percent to $1.0927, while the British pound was 0.4 percent higher at $1.2937.
Rates:
The yield on 10-year Treasuries fell three basis points to 2.29 percent, reversing a rise of two basis points sparked when Treasury Secretary Steven Mnuchin said issuing longer-dated bonds “is something we’re considering.”
Lou Crandall is sticking with his call that the U.S. is about to increase the amount of 30-year bonds it sells as a prelude to adding a new ultra-long maturity.
Germany’s 10-year yield rose one basis points to 0.33 percent
Equities:
The S&P 500 rose 0.1 percent to close at 2,391.09 at 4 p.m. in New York, four points short of its March 1 closing record.
The Nasdaq Composite and Nasdaq 100 indexes edged to fresh records, while small caps in the Russell 2000 Index retreated.
The Stoxx Europe 600 Index increased 0.6 percent, with BP Plc adding 1.6 percent after profit rose to $1.51 billion, exceeding analysts’ estimate.
The Topix index rose 0.7 percent to the highest since March 21 as the yen weakened. Japanese markets will be closed for holidays over the next three days
Commodities:
Oil fell to the lowest in more than a month as the U.S. crude glut is seen moving to brimming fuel tanks. The drop intensified after Saudi Arabia signaled it’s faring better than expected with low prices.
West Texas Intermediate closed 2.4 percent lower at $47.66.
Cattle futures extended a surge to a record and wholesale beef jumped to a 13-month high after a weekend blizzard hammered the Midwest.

 

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