U.S. Stocks Fall With Dollar, Treasuries on Fed Bets; Oil Gains

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U.S. stocks fell with the dollar and Treasuries, as investors bet the Federal Reserve will end its bond purchases and signal continued low interest rates. Oil rallied.

The Standard & Poors 500 Index slid 0.2 percent at 12:33 p.m. in New York after yesterday rising to within 1.5 percent of an all-time high. The Stoxx Europe 600 Index closed 0.3 percent higher and the MSCI Asia Pacific Index added 1.3 percent. Facebook slid 6 percent after projecting sales that trailed analysts highest predictions. Brent crude rose to a two-week high on OPEC comments. Russias ruble retreated to a record low for a sixth day.

Theres only a 50 percent chance the Fed will raise its interest-rate target to at least 0.5 percent by October next year, after ending its bond-buying program today and leaving its key rate near zero, futures data and analyst forecasts compiled by Bloomberg show. The S&P 500 Index has rallied 6.6 percent through yesterday amid better-than-estimated earnings and signs of a strengthening economy. The dollar headed for its longest losing streak in four months.

Source: Bloomberg

Dollar in Longest Slump in 4 Months Before Fed; Krone Declines

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The dollar fell for a fourth day, the longest skid since July, as signs of an uneven U.S. economic recovery pushed back bets for interest-rate increases next year before the Federal Reserve sets monetary policy today.

The U.S. currency touched a one-week low versus a basket of peers amid data yesterday that showed orders for durable goods unexpectedly fell. The Fed completes a two-day meeting after it said in September it would end quantitative easing this month if the economy keeps improving. Norways krone dropped on higher-than-forecast unemployment. Brazils real gained against all 16 of its major peers for a second day.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major counterparts, fell 0.1 percent to 1,061.97 at 9:56 a.m. New York time, after touching 1,061.96, the lowest level since Oct. 21. The losing skein is the longest since a five-day slump ended July 1.

The dollar was at $1.2743 per euro after declining 0.7 percent in the previous three days. It was little changed at 108.14 yen. Japans currency traded at 137.80 per euro after reaching 137.82, the weakest since Oct. 9.

Source : Bloomberg

Most Asian Stocks Fall Before China CPI as Yen Weighs on Topix

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Most Asian stocks fell as the yen strengthened, dragging Japanese shares lower following a three-week rally, before a report on Chinese inflation.

About two shares dropped for each that advanced on the MSCI Asia Pacific Index, which added 0.1 percent to 140.34 as of 9:02 a.m. in Tokyo, before markets opened in Hong Kong and China. Japans Topix index slid 0.5 percent as the yen rose 0.1 percent to 114.47 per dollar, extending its 0.5 percent gain on Nov. 7 after a U.S. jobs report dragged the greenback lower.

Data at the weekend showed Chinese exports rose more in October than economists had estimated, sparking concern over fake invoicing as imports grew slower than expected. Policymakers have eschewed across-the-board stimulus and interest-rate cuts even as growth cooled to the weakest pace in more than five years last quarter. The worlds second-biggest economy reports on consumer and producer prices today.

Australias S&P/ASX 200 Index dropped 0.5 percent and New Zealands NZX 50 Index added 0.6 percent. South Koreas Kospi index gained 0.7 percent, buoyed by a 1.3 percent advance by Samsung Electronics Co.

Japans Topix climbed 16 percent over the three weeks through Nov. 7 and touched a six-year high after the Bank of Japan boosted stimulus and the nations pension fund said it will buy more shares. The yen slumped to a seven-year low against the dollar.

Source : Bloomberg

Japanese Stocks Fall as Yen Strengthens After U.S. Payrolls Data

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Japanese stocks fell, after capping three weeks of gains, as the yen rose and a report showed U.S. companies hired fewer workers than forecast.

The Topix dropped 0.4 percent to 1,357.99 as of 9:01 a.m. in Tokyo after gaining 2.3 percent last week. All but six of the 33 industry groups declined. The Nikkei 225 Stock Average slid 0.6 percent to 16,781.18. The yen traded at 114.51 per dollar after rising 0.5 percent on Nov. 7.

The Topix has gained 6.6 percent since Oct. 31 when the Bank of Japan expanded stimulus and the nations pension fund said it will boost its stock holdings. The Topixs 14-day Relative Strength Index stood at 67 on Nov. 7, according to data compiled by Bloomberg, near the 70 threshold some traders say indicates that shares have risen too fast.

Of the companies on the Topix that released quarterly results from Oct. 1 through last week and for which Bloomberg had estimates, 64 percent beat expectations for profit.

Source : Bloomberg