(Bloomberg) -- U.S. stock index futures erased earlier losses and resumed gains in a volatile session as China added new stimulus to its economy and concerns over the coronavirus kept mounting, while oil sank.Contacts on the S&P 500 expiring in June were up 0.3% as of 10:40 a.m. in London. They fell as much as 3.1% and had also climbed 1.7% after China’s rate cut on seven-day reverse repurchase agreements. As part of the stimulus, the People’s Bank of China injected 50 billion yuan ($7.1 billion) into the banking system.In the U.S., a top infectious disease expert said deaths from coronavirus may reach 200,000, while President Donald Trump abandoned his ambition to return American to normal life by Easter. Total cases in the world topped 723,000, with 34,000 dead.In Europe, the Stoxx 600 Index dropped 0.5% as oil prices slumped and a number of banks postponed their dividends.Dramatic swings have been...
(Bloomberg) -- Stocks slipped on Monday and U.S. equity futures fluctuated as investors weighed a weekend full of negative coronavirus news against the stimulus measures that triggered a bounce in risk assets last week. The dollar rebounded with Treasuries, while oil sank.Shares in Europe followed earlier declines across much of Asia, though they came off their lows. Contracts on the S&P 500 Index fluctuated after President Donald Trump abruptly abandoned his ambition to return American life to normal by Easter and Moscow and Tokyo joined other cities urging residents to remain at home.Core European bonds advanced, as EasyJet Plc grounded its entire fleet and officials in the region warned against loosening lockdowns after the outbreak killed more than 3,000 in Spain and Italy over the weekend. Pessimism returned to credit markets, where the cost to insure high-yield debt jumped in both Asia and Europe. The dollar was on course to snap...
Polls show President Trump’s job approval rating has been ticking up as the White House tackles the novel coronavirus pandemic. WSJ’s Gerald F. Seib explains how the numbers come with caveats. Photo: Alex Brandon/Associated Press...
Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said. Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125,000 on Friday and a weekly low of about $90,000 a day on Wednesday, according to several ship broking sources. "Its difficult to say whether or not the rates will be sustained, or at what levels, but generally looking at Saudi's export plans for the coming months at more than 10 million barrels per day (bpd) - as well as the demand for floating storage - then you can expect freight rates to remain strong," said Anoop Singh, head of tanker research in Asia at Braemar ACM...
After rallying for six consecutive sessions, EUR/USD is seen retreating in early trading at the start of the new week to retest its 200-day moving average....
(Bloomberg) -- U.S. stock index futures erased earlier gains and dropped again in a volatile session as concerns over the coronavirus keep mounting.Contacts on the S&P 500 expiring in June were down 0.5% as of 9:30 a.m. in London. They rose as much as 1.7% earlier after China’s rate cut on seven-day reverse repurchase agreements. As part of the stimulus, the People’s Bank of China injected 50 billion yuan ($7.1 billion) into the banking system.In the U.S., a top infectious disease expert said deaths from coronavirus may reach 200,000, while President Donald Trump abandoned his ambition to return American to normal life by Easter. Total cases in the world topped 723,000 and 34,000 dead.In Europe, the Stoxx 600 Index tumbled 1.7% as oil prices collapsed an a number of banks postponed their dividends.Dramatic swings have been the rule in global markets for five weeks as investors tried to price in an...
