U.S. Stock Futures Slide, Yen Edges Up, Oil Rises: Markets Wrap
(Bloomberg) -- U.S. equities futures fell, contracts on the Nikkei 225 Stock Average turned lower and the yen edged up against the dollar as trading got under way in Asia Wednesday, showing no respite from the risk aversion that’s roiled markets this month.
The trading day will open Wednesday in Asia with no guide from U.S. markets that were closed for Christmas. Traders will be digesting overnight comments from President Donald Trump about the Federal Reserve that were less abrasive than those earlier this month. Trump expressed confidence that the U.S. central bank will “get it pretty soon,” after having criticized Chairman Jerome Powell repeatedly for raising interest rates.
Ten-year Treasury yields will start trading at their lowest level since April. West Texas Intermediate crude advanced, though remained below $43 a barrel. The offshore yuan is little changed after China released new rules promising to treat all companies equally, the latest positive step on the trade and investment front since U.S. and Chinese tariff hikes were set on pause.
Here are some events investors may focus on in coming days:
- Bank of Japan Governor Haruhiko Kuroda speaks at Japan’s top business lobby, Keidanren, on Wednesday.
- India’s central bank releases a financial-stability report Wednesday.
- U.S. new-home sales are due Thursday.
And these are the main moves in markets:
Stocks
- Futures contracts on the S&P 500 Index fell 0.3 percent as of 8:15 a.m. in Tokyo.
- Futures on the Nikkei 225 Index dropped 0.7 percent in Chicago after the underlying gauge declined 5 percent to close at 19,155.74.
- Futures on the FTSE China A50 index climbed 0.3 percent earlier.
Currencies
- The Japanese yen was at 110.18 per dollar.
- The Bloomberg Dollar Spot Index closed little changed Tuesday after dropping 0.4 percent on Monday.
- The offshore yuan was at 6.8950 per dollar.
Bonds
- Japan’s 10-year bond yield closed at 0.019 percent Tuesday.
- Ten-year Treasuries closed at 2.74 percent Tuesday.
Commodities
- West Texas Intermediate crude was up 1.1 percent at $42.98 a barrel.
- Gold was steady at $1,270.57 an ounce.
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