Asia Market News
In Asia stocks looked set to post their biggest weekly loss in three weeks on Friday and government bond yields plunged to fresh record lows as investors awaited U.S. jobs data to get a clearer picture of the health of the world’s biggest economy. The Nikkei was down 0.4% at 15,217.24.
Currency Market News
The USD/JPY was 0.2% higher against the yen at 100.83 yen. EUR/USD recently traded up 0.1% to $1.1071, whilst GBP/USD traded up 0.2% at $1.2942, holding above 31-year lows logged earlier this week.
Commodity Market News
Crude oil prices rebounded on Friday when prices fell 5% on news that the U.S. weekly crude draw missed some forecasts. Brent crude futures were trading at $46.92 per barrel on Friday, up 1.12%, from their last settlement. U.S. crude was up 0.95%, at $45.57 a barrel. U.S. commercial crude stocks fell by 2.22 million barrels to 524.35 million barrels, according to the EIA. Spot gold was trading down 0.1% at $1,358.36 an ounce. Silver was trading up 0.4% at $19.73.
US Market News
U.S. indices S&P 500 and Dow industrials fell on Thursday, weighed by energy stocks. The Dow Jones industrial average fell 0.13%, to 17,895.88, the S&P 500 lost 0.09%, to 2,097.9. Costco (NASDAQ:COST) was up 4.9% after it reported June comparable sales rose more than expected. Shares of Humana Inc (NYSE:HUM) closed down 9.6% after a source familiar with the situation said the U.S. Department of Justice has significant concerns about Aetna Inc’s proposed acquisition of Humana. Aetna (NYSE:AET) shares were down 4%.
US Equity Earnings
- Pepsi (NYSE:PEP) – Q2 Adj. EPS USD 1.35 vs. Exp. USD 1.29 and boost 2016 forecast. Q2 revenue USD 15.4bln vs. Exp. USD 15.4bln and they forecast Yr Core EPS at USD 4.71 vs. Exp. USD 4.72 (Prev. USD 4.66).
Bond Market News
U.S. 30-year Treasury yields fell slightly while other maturities were little changed on Thursday on nervousness ahead of Friday’s U.S. non-farm payrolls report for June and its potential short-term impact on Federal Reserve rate hike expectations. U.S. 30-year Treasuries were last up 10/32 in price to yield 2.138 percent, while benchmark 10-year Treasuries were last unchanged in price to yield 1.385 percent. Meanwhile, Japanese bond yields fell to fresh record lows.
Economic Calendar
- 13:30 GMT+1 CAD Employment Change
- 13:30 GMT+1 CAD Unemployment Rate
- 13:30 GMT+1 US Average Hourly Earnings m/m
- 13:30 GMT+1 US Non-Farm Employment Change
- 13:30 GMT+1 US Unemployment Rate
DISCLAIMER: The above is not considered financial advice or any endorsement to use any particular service. If you wish to use any of the services mentioned, please seek independent advice.
RISK WARNING: Spread betting, CFD, futures and options trading carries a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved. Past performance of a managed service is not a guide to future performance.