Asian Stocks to Advance After Earnings Lift U.S.: Markets Wrap

(Bloomberg) -- Asian stocks look set for a positive start to the week after earnings and Chinese economic data eased concerns about a slowdown in global growth Friday, lifting U.S. shares and Treasury yields.

Futures pointed higher in Japan and Hong Kong. The S&P 500 climbed to within 1 percent of reaching a new all-time high, while the 10-year Treasury yield rose to 2.57 percent. The dollar slipped and oil rose for a sixth week.

With Chinese trade and lending data showing signs of improvement for the world’s second-biggest economy, investors are now looking for the earnings season to confirm the resilience of corporate America in the face of numerous headwinds. Up next are Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp. Elsewhere, finance chiefs and central banks stand ready to "act promptly" to shore up growth amid a multitude of downside risks, according to a communique from the IMF’s main advisory panel.

Meanwhile, President Donald Trump renewed his attack on the Federal Reserve over the weekend, saying the stock market would be “5000 to 10,000” points higher had it not been for the actions of the U.S. central bank.

Here are some notable events coming up:

• Earnings season rolls on, with firms including: Citigroup, Bank of America, BlackRock, Goldman Sachs, Morgan Stanley, American Express, Johnson & Johnson, Netflix, IBM, United Continental, PepsiCo, Honeywell, Alcoa and Taiwan Semiconductor.
• The Reserve Bank of Australia releases the minutes of its latest rate-decision meeting Tuesday.
• Wednesday brings China GDP, industrial production and retail sales data.
• Stock markets will be closed for Easter holidays in countries including the U.S., U.K. and Germany on Friday.

These are the main moves in markets:

Stocks

• Futures on Japan’s Nikkei 225 rose 1 percent in Singapore trading Friday.
• Hang Seng futures added 0.7 percent.
• Futures on Australia’s S&P/ASX 200 Index were little changed.
• The S&P 500 Index increased 0.7 percent Friday.

Currencies

• The yen was little changed at 112 per dollar.
• The offshore yuan held at 6.7070 per dollar.
• The euro bought $1.1302.
• The pound was steady at $1.3076.
• The Bloomberg Dollar Spot Index declined 0.2 percent Friday.

Bonds

• The yield on 10-year Treasuries rose seven basis points to 2.57 percent.

Commodities

• West Texas Intermediate crude rose 0.5 percent to $63.89 a barrel.
• Gold slipped 0.2 percent to 1,290.43.

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