Futures slightly higher as European stocks rise

Author

09 October, 2016

Stocks in Southeast Asian markets were higher.

Gold held a weekly decline as investors weighed receding concern about Deutsche Bank AG's finances against British Prime Minister Theresa May's pledge to start pulling the United Kingdom out of the European Union by March.

The bank's U.S-listed stock was up 0.31 percent before the bell and was the most heavily traded.

SEOUL, South Korea (AP) - The Nikkei led gains in Asian stock markets Tuesday as the dollar rose against the yen following upbeat US manufacturing data.

Spot silver rose 0.4 percent, platinum fell 0.6 percent and palladium gained 0.7 percent. Construction spending fell 0.7 percent in August, with analysts expecting a 0.2 percent increase. Australia's S&P/ASX 200 edged 0.1 percent higher to 5,484.00. Benchmarks in India, Taiwan and Southeast Asia advanced.

NO DAX, NO DEUTSCHE: Another reason why European markets have started the week solidly is the fact that Germany's DAX index is closed for a national holiday.

FACTORY GAUGE: A monthly USA manufacturing index rebounded, sending the dollar higher as investor expectations rose that Fed policymakers will hike interest rates again as the economy strengthens.

The S&P 500 index showed 13 new 52-week highs and three new lows, while the Nasdaq recorded 68 new highs and 18 new lows.

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No market-moving economic data is expected on Tuesday. "In the short term, this may see the equity market cool somewhat as investors pull out of risk assets as the Fed is seen to be normalizing".

Brent crude rose 1.1 percent to United States dollars 49.24 on Thursday, after earlier touching a three-week high of USD49.24.

Some Bank of Japan board members doubted whether the central bank's overhaul of its massive stimulus programme, announced last week would enhance flexibility of monetary policy, a summary of opinions at the central bank's September rate review showed on Friday. On Friday, investors get the September U.S.jobs report number, which could influence whether the Federal Reserve decides to hike interest rates this year for the first time.

Declining issues outnumbered advancing ones on the NYSE by a 1.40-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favoured decliners.

Asian stocks followed Wall Street lower in early trade on Friday, while oil prices held close to the highest level in nearly a month on optimism over an OPEC plan to curb output.

At the open of trading Monday the Dow Jones industrial average was down 70 points, or 0.4%. The S&P 500 Index declined 7.07 points, or 0.3%, to finish at 2,161.20, with the real estate and utilities sectors leading the index lower.

ENERGY: Benchmark U.S. crude oil fell 37 cents to $48.44 per barrel in electronic trading on the New York Mercantile Exchange.


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