Today's Headlines
Bloomberg:
- U.S. Stock Futures Rise With Yuan on Trade Truce. U.S. equity-index futures surged with the yuan, while the yen slumped after the American and Chinese presidents reached a truce in the trade war and agreed to resume talks. Futures on the S&P 500 climbed 1% and China’s offshore yuan was up 0.6% against the dollar in early trading Monday. The deal between Presidents Xi Jinping and Donald Trump validated investor hopes after mixed signals heading into Saturday’s meeting. Treasury futures declined. Oil rose as Russia struck a deal with Saudi Arabia to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into early 2020. Futures on the S&P 500 Index climbed 1% as of 7:30 a.m. in Tokyo. The underlying gauge advanced 0.6% on Friday. Futures on the Nikkei 225 were up 1.6%.
Wall Street Journal:
MarketWatch.com:
Fox News:
CNBC:
CNBC:
Zero Hedge:
Telegraph:
Night Trading
- Asian indices are +.5% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.0 -.75 basis point.
- China Sovereign CDS 42.75 -1.0 basis point.
- Bloomberg Emerging Markets Currency Index 67.63 +.01%.
- FTSE 100 futures +.4%.
- S&P 500 futures +.87%.
- NASDAQ 100 futures +1.36%.
Earnings of Note
Company/Estimate
Before the Open:
Before the Open:
- (AZZ)/.67
After the Close:
- None of note
Economic Releases
10:00 am EST- ISM Manufacturing for June is estimated to fall to 51.0 versus a reading of 52.1 in May.
- ISM Prices Paid for June is estimated to fall to 52.8 versus 53.2 in May.
- Construction Spending for May is estimated unch. versus unch. in April.
- None of note
- The OPEC meeting, Eurozone PMI report, Eurozone Unemployment Rate report and the China Manufacturing PMI report could also impact trading today.