Global News March 29, 2016

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  2. Global News March 29, 2016

Bloomberg Business

-Stocks: The S&P 500 slipped 0.2 percent at 10:13 a.m. in New York, after the equity benchmark rose less than 0.1 percent on Monday. The index had advanced for five straight weeks, recouping all of its 2016 losses, before a three-day drop at the end of last week signaled the recovery may be running out of steam. Energy shares led declines Tuesday, while phone stocks advanced 0.3 percent to pace gains. The energy group is headed for a fifth loss in six sessions after rising to the highest level since December on March 18. As well as Yellen’s speech to Economic Club of New York at 12:20 p.m., investors will Tuesday assess a report that economists forecast will show consumer confidence improved in March.

-Commodities: West Texas Intermediate crude fell 2.9 percent to $38.26 a barrel in New York, after sliding 5 percent over the past three sessions amid ongoing concern over a global glut in the commodity. Weekly U.S. government data is forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades. Brent futures in London lost 2.7 percent to $39.17. Indonesia will attend a meeting of major oil exporters in Doha next month to consider an output freeze, according to Energy and Mineral Resources Minister Sudirman Said. Spot gold fell 0.2 percent to $1,218.88 an ounce. Copper, zinc and tin also declined, while aluminum rose as the London Metal Exchange reopened after two days of public holidays.

-Bonds: The yield on 10-year Treasury notes slipped 0.2 basis points to 1.86 percent, the lowest level in three weeks. BlackRock Inc. joined Pacific Investment Management Co. in recommending inflation-linked bonds and warning costs are poised to pick up. Government debt across the euro area advanced, with German bunds, the region’s benchmark securities, rising for a fourth day in their longest winning stretch since January. Spain’s 10-year yield fell eight basis points, the most in two weeks, to 1.45 percent. Italy’s slid six basis points to 1.24 percent.

-Currencies: The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, was little changed, on course for a monthly drop of 2.6 percent, the biggest since April. Volatility in the $5.3 trillion-a-day currency market reached the highest level in a month before Yellen’s speech. Odds of the Fed raising rates at its June meeting have fallen to 34 percent, from 42 percent a week ago, according to Fed funds futures data compiled by Bloomberg. “The dollar is really not your best bet right now,” Vassili Serebriakov, a foreign-exchange strategist at BNP Paribas SA in New York, said in an interview on Bloomberg Television. The Japanese yen weakened 0.1 percent at 113.54 per dollar, falling for an eighth day.

Fuente: Bloomberg Business

CNN Money

-Cloudy forecast: U.S. stock futures are sinking a bit and many European markets have turned negative after starting in positive territory. Asian markets ended the day with modest losses. Investors are generally shrugging off the hijacking of an EgyptAir A320, which ended with a suspect in custody and all passengers released. Airline stocks mirrored the broader market. Investors are also looking ahead to a major speech from Fed chair Janet Yellen, who is scheduled to appear at the Economic Club of New York at 11:30 a.m. ET.

– Stocks to watch — Apple, Yahoo: Apple (AAPL, Tech30) is in focus after the Department of Justice dropped its high profile case against the iPhone maker. The DOJ was trying to force Apple to help law enforcement officials break into a terrorist’s phone. Apple had declined to provide assistance, saying it would ultimately compromise the security of all iPhone users. Yahoo (YHOO, Tech30) is in the spotlight after the Wall Street Journal reported that the company is asking prospective bidders to put forward initial offers for its core Web unit and Asian assets by April 11. Economics: The Case-Shiller housing index for January will be released at 9:00 a.m. The index gives a good overview of housing dynamics in 20 key U.S. cities. Then the Conference Board is releasing data on consumer confidence at 10:00 a.m.

-Monday market recap: It was a relatively uneventful trading day on Monday, and European markets were closed. The Dow Jones industrial average and S&P 500 edged up by 0.1%. The Nasdaq dipped by 0.1%.

Fuente: CNN Money