(Bloomberg) -- Asian stocks saw modest gains on low volume as investors mulled further signs of positive developments in the global fight against the coronavirus. The yen was steady as traders awaited a key Bank of Japan policy meeting.Shares in Hong Kong, South Korea and Japan rose after U.S. stocks ended firmer on Friday. U.S. futures fluctuated and Chinese stocks were little changed. The Australian dollar outperformed, while other risk currencies tucked higher. Treasury yields were little changed. Coronavirus deaths slowed the most in more than a month in Spain, Italy and France while fatalities reported in the U.K. and New York were the lowest since the end of March. Oil retreated.The Federal Reserve joins the BOJ and the European Central Bank announcing policy decisions this week as the battle against the pandemic continues with some countries proceeding on steps to relax lockdown measures. Several major economies will release GDP numbers,...
Gold investors are currently wearing two-hats, which means they shouldn’t be surprised by volatile swings over the near-term. Additionally, the long-term outlook is bullish so despite looking ugly sometimes in the short-run, we’re confident there will be investors ready and willing to buy the dips....
(Bloomberg) -- The narrowing group of winners in the S&P 500 doesn’t bode well for the future performance of U.S. stocks, according to Goldman Sachs Group Inc.The U.S. benchmark is around 17% below its February record, but the median stock trades 28% from its peak, Goldman strategists including David Kostin wrote in a note Friday. Meanwhile, the five largest companies make up 20% of the gauge’s market capitalization, exceeding the 18% level the measure reached in March 2000 and raising investor concerns about narrow market breadth, they said.“Sharp declines in market breadth in the past have often signaled large market drawdowns,” the strategists wrote. “Narrow breadth can last for extended periods, but past episodes have signaled below-average market returns and eventual momentum reversals.”Breadth narrowed ahead of the recessions in 1990 and 2008, in the tech bubble, and during the economic slowdowns of 2011 and 2016, according to the note. In the...
Apr.26 -- Speculation about North Korean leader Kim Jong Un’s health intensified over the weekend following tantalizing -- yet unverified -- reports. Stephen Engle reports on "Bloomberg Daybreak: Australia."...
