Asian stocks have gained as hopes for a thaw in the US-China trade conflict fed investor appetites for risk assets.The Wall Street Journal reported that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30.US stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations.For the day, all three major US indexes were up, led by a surge in industrial stocks.Following Wall Street's lead, MSCI's broadest index of Asia-Pacific shares outside Japan added 0.25 per cent. The index has gained nearly 1 per cent this week.Australian stocks rose 0.6 per cent, as did South Korea's KOSPI while Japan's Nikkei gained 0.7 per cent."As with 2018, the US-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides … [Read more...] about Asia stocks gain on hopes over tariff thaw
Stocks 52 week high and low
Wall Street rises after report on tariffs
US stocks have advanced as a published report that the United States was considering lifting tariffs on Chinese imports lifted investor sentiment.US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30, the Wall Street Journal reported on Thursday, citing people familiar with the internal deliberations.Stocks spiked higher after having posted modest gains in early afternoon trading, though they pared gains slightly after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations.Industrial stocks, which have been sensitive to trade developments, jumped 1.4 per cent after the report. They had earlier erased early losses as shares of defence contractors Northrop Grumman Corp and Lockheed Martin Corp rose after President Donald Trump unveiled a revamped US missile defence strategy.Shares of Apple Inc, which had previously warned … [Read more...] about Wall Street rises after report on tariffs
Small steps from world stocks after rally, giant leap for yuan
LONDON (Reuters) - Soothing words from the world’s top central banks helped stocks consolidate a strong start to 2019 on Friday, while China’s yuan capped its best week since it shed its dollar peg in 2005. Stock markets were lifted by more promises of patience from the Federal Reserve, the ECB mulling more cheap money and trade talks between Washington and Beijing moving to higher levels. Asia crawled to a 5-week high and Wall Street futures were down a touch [.N] but European stocks [.EU] clung to a fourth day of gains and their longest winning streak since September. The Fed’s dovish stance also pushed down the dollar [/FRX] and nudged Treasury yields [/US] lower after five days of gains, cheering emerging markets and restoring confidence after a brutal end to 2018. Sterling also sparked into life after a report that top government members expect a Brexit delay. [GBP/] “Equities are having a good run after a pretty horrible end to last year. It is … [Read more...] about Small steps from world stocks after rally, giant leap for yuan
Wall Street rally pauses, but stocks mint weekly gain
The S&P 500 ended marginally lower in a choppy session on Friday, but major indexes posted weekly gains for the first time in December following a wild few days of trading that saw equities rebound from a prolonged slide, Reuters reports. Major indexes moved in and out of positive territory during the day, action that was emblematic of recent volatility though lacking the huge swings of the past week. The Dow finished modestly lower, while the Nasdaq eked out a slight gain. With the year coming to an end, investors will be watching key U.S. economic reports next week, including on manufacturing and employment. “It’s just maybe nervousness ... with another short week coming up,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. “There’s a lot of potential for moves one way or the other. We have got a lot of data coming in next week.” Thursday’s trading was marked by a stunning reversal late in … [Read more...] about Wall Street rally pauses, but stocks mint weekly gain
Stocks take breather, but risks circle
Stocks were mixed Friday after moving higher in morning trade, with investors taking comfort in remarks by a Federal Reserve official. New York Federal Reserve Bank President John Williams told CNBC that policymakers are listening "very carefully" to concerns about the potential impact of slowing U.S. economic growth on financial markets. Equities fell sharply in the two sessions that followed the Fed's move on Wednesday to hike interest rates, with investors worrying that the central bank would persist with its tightening campaign despite signs the economy is cooling. The S&P 500, Dow and Nasdaq were largely flat as of 11:19 a.m. Eastern time. The respite may be short, however, with a slew of risks shadowing stocks.Many stock markets are on track to end 2018 more than 10 percent lower than where they started, with some actually poised to record their worst December since the 1930s. The tech-heavy Nasdaq has sunk more than 19 percent from its highest point this year, … [Read more...] about Stocks take breather, but risks circle