India Morning Call-Global markets
EQUITIES
NEW YORK - U.S. S&P 500 E-mini futures rose 0.3
percent in early Asian trade on Wednesday after a White House
official said U.S. President Barack Obama will nominate Federal
Reserve Vice Chairwoman Janet Yellen to be the next head of the
U.S. central Bank.
The gains in the S&P E-mini futures suggested a firmer open
for U.S. stocks on Wednesday after the Standard & Poor's 500
index shed 1.2 percent on Tuesday as little progress was
made to end political wrangling in Washington that could lead to
a U.S. debt default.
For a full report, double click on
- - - -
LONDON - Britain's top share index slipped to three-month
lows on Tuesday as weak data and downbeat analyst comments hit
retailers and the fiscal deadlock in the United States kept
broader sentiment subdued.
In contrast to buoyant recent British data, retail sales
growth slowed for a second month in September, according to BRC
numbers.
Analyst notes on the sector were also downbeat, with Deutsche
Bank cutting its full year earnings forecast for Marks & Spencer
by 2 percent while Bernstein downgraded the stock to
'underperform'.
For a full report, double click on
- - - -
TOKYO - Japan's Nikkei share average erased early losses on
Wednesday, moving away from a five-week low, but the mood stayed
cautious as a lack of progress in resolving the U.S. budget
standoff weighed on investor confidence.
The Nikkei was up 0.2 percent at 13,918.49 in
mid-morning trade. Earlier on Wednesday, it fell as far as
13,751.85, just above a five-week low of 13,748.94 hit on
Tuesday.
For a full report, double click on
- - - -
HONG KONG - Hong Kong shares could start weaker on
Wednesday, after the yield on one-month U.S. government debt hit
a five-year high as investors prepared for a possible default by
the world's largest economy.
China is due to release September figures for money supply
and loan growth by Oct. 15, kicking off a new batch of economic
data.
For a full report, double click on
- - - -
FOREIGN EXCHANGE
TOKYO/SYDNEY - The dollar got some relief against the yen on
Wednesday from news U.S. President Barack Obama has tapped
dovish Federal Reserve Vice Chairwoman Janet Yellen to head the
U.S. central bank, though the U.S. budget impasse kept the
greenback near an eight-month trough against a basket of
currencies.
Obama will announce his selection of Yellen later on
Wednesday. If confirmed by the U.S. Senate, Yellen would replace
Ben Bernanke, whose second four-year term as head of the Fed
expires on Jan. 31.
For a full report, double click on
- - - -
TREASURIES
NEW YORK - U.S. Treasuries prices slipped slightly on
Tuesday, but losses were held in check by a liquidity bid
inspired by stock market losses and an apparent lack of progress
on resolving a partial government shutdown and lifting the U.S.
debt ceiling.
Two Treasury auctions with sharply contrasting results
offered a bifocal view of the bond market.
For a full report, double click on
- - - -
COMMODITIES
GOLD
SINGAPORE - Gold ticked higher on Wednesday as the U.S.
budget impasse dragged on for a second week and threatened to
spill over to talks about raising the U.S. debt ceiling,
boosting the metal's safe-haven appeal.
Spot gold rose 0.2 percent to $1,320.44 an ounce by
0019 GMT.
For a full report, double click on
- - - -
BASE METALS
SINGAPORE - London copper edged down on Wednesday as a lack
of progress on the U.S. fiscal deadlock eroded appetite for risk
assets, while Chinese consumers were content to wait for lower
prices.
London copper is showing no sign of breaking out of the
$7,000-$7,500 range it has held for the past two months, with
swelling supply also dousing investor interest and quelling any
urgency for consumers to stock up.
For a full report, double click on
- - - -
OIL
NEW YORK - Crude oil prices on both sides of the Atlantic
gained on Tuesday as geopolitical risk crept back into the
markets, even as the dollar index turned positive after a
mid-morning phone call between U.S. President Barack Obama and
U.S. House Speaker John Boehner over the budget crisis.
Obama urged Boehner to hold a simple vote to end the
government shutdown and raise the nation's debt limit, saying
international creditors look to Congress for reassurance about
U.S. creditworthiness.
PRAVEEN SAHRMA
PGDM IST
.
EQUITIES
NEW YORK - U.S. S&P 500 E-mini futures rose 0.3
percent in early Asian trade on Wednesday after a White House
official said U.S. President Barack Obama will nominate Federal
Reserve Vice Chairwoman Janet Yellen to be the next head of the
U.S. central Bank.
The gains in the S&P E-mini futures suggested a firmer open
for U.S. stocks on Wednesday after the Standard & Poor's 500
index shed 1.2 percent on Tuesday as little progress was
made to end political wrangling in Washington that could lead to
a U.S. debt default.
For a full report, double click on
- - - -
LONDON - Britain's top share index slipped to three-month
lows on Tuesday as weak data and downbeat analyst comments hit
retailers and the fiscal deadlock in the United States kept
broader sentiment subdued.
In contrast to buoyant recent British data, retail sales
growth slowed for a second month in September, according to BRC
numbers.
Analyst notes on the sector were also downbeat, with Deutsche
Bank cutting its full year earnings forecast for Marks & Spencer
by 2 percent while Bernstein downgraded the stock to
'underperform'.
For a full report, double click on
- - - -
TOKYO - Japan's Nikkei share average erased early losses on
Wednesday, moving away from a five-week low, but the mood stayed
cautious as a lack of progress in resolving the U.S. budget
standoff weighed on investor confidence.
The Nikkei was up 0.2 percent at 13,918.49 in
mid-morning trade. Earlier on Wednesday, it fell as far as
13,751.85, just above a five-week low of 13,748.94 hit on
Tuesday.
For a full report, double click on
- - - -
HONG KONG - Hong Kong shares could start weaker on
Wednesday, after the yield on one-month U.S. government debt hit
a five-year high as investors prepared for a possible default by
the world's largest economy.
China is due to release September figures for money supply
and loan growth by Oct. 15, kicking off a new batch of economic
data.
For a full report, double click on
- - - -
FOREIGN EXCHANGE
TOKYO/SYDNEY - The dollar got some relief against the yen on
Wednesday from news U.S. President Barack Obama has tapped
dovish Federal Reserve Vice Chairwoman Janet Yellen to head the
U.S. central bank, though the U.S. budget impasse kept the
greenback near an eight-month trough against a basket of
currencies.
Obama will announce his selection of Yellen later on
Wednesday. If confirmed by the U.S. Senate, Yellen would replace
Ben Bernanke, whose second four-year term as head of the Fed
expires on Jan. 31.
For a full report, double click on
- - - -
TREASURIES
NEW YORK - U.S. Treasuries prices slipped slightly on
Tuesday, but losses were held in check by a liquidity bid
inspired by stock market losses and an apparent lack of progress
on resolving a partial government shutdown and lifting the U.S.
debt ceiling.
Two Treasury auctions with sharply contrasting results
offered a bifocal view of the bond market.
For a full report, double click on
- - - -
COMMODITIES
GOLD
SINGAPORE - Gold ticked higher on Wednesday as the U.S.
budget impasse dragged on for a second week and threatened to
spill over to talks about raising the U.S. debt ceiling,
boosting the metal's safe-haven appeal.
Spot gold rose 0.2 percent to $1,320.44 an ounce by
0019 GMT.
For a full report, double click on
- - - -
BASE METALS
SINGAPORE - London copper edged down on Wednesday as a lack
of progress on the U.S. fiscal deadlock eroded appetite for risk
assets, while Chinese consumers were content to wait for lower
prices.
London copper is showing no sign of breaking out of the
$7,000-$7,500 range it has held for the past two months, with
swelling supply also dousing investor interest and quelling any
urgency for consumers to stock up.
For a full report, double click on
- - - -
OIL
NEW YORK - Crude oil prices on both sides of the Atlantic
gained on Tuesday as geopolitical risk crept back into the
markets, even as the dollar index turned positive after a
mid-morning phone call between U.S. President Barack Obama and
U.S. House Speaker John Boehner over the budget crisis.
Obama urged Boehner to hold a simple vote to end the
government shutdown and raise the nation's debt limit, saying
international creditors look to Congress for reassurance about
U.S. creditworthiness.
PRAVEEN SAHRMA
PGDM IST
.
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