Gold Holds Drop Near Two-Week Low as Jobs Data May Fan Rate Bets

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Gold held a decline before a U.S. nonfarm payrolls report on Friday that could bolster the case for an interest-rate rise after private jobs data showed an increase in hiring.

Bullion for immediate delivery was at $1,115.85 an ounce at 8:45 a.m. in Singapore from $1,115.09 on Wednesday, when prices fell 1.1 percent to the lowest close in two weeks, according to Bloomberg generic pricing.

Gold fell for five straight quarters as the U.S. prepares to raise borrowing costs amid an improving economy, denting the metal’s appeal because it doesn’t pay interest. American companies stepped up hiring in September, indicating the jobs market is standing firm in the face of weaker global demand, figures from the ADP Research Institute showed Wednesday. Labor Department data on Friday are projected to show payroll gains accelerated last month compared with August.

Source: Bloomberg

Oil Sticks Near $45 Amid Mixed Supply Signals From OPEC, U.S.

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Oil held in its range near $45 a barrel as signals from OPEC and the U.S. show supply easing while inventories in the world’s biggest consumer increased.

Futures gained as much as 0.7 percent New York after falling 0.3 percent Wednesday. U.S. production declined for the seventh time in eight weeks to a 10-month low while stockpiles rose by 3.96 million barrels. The Organization of Petroleum Exporting Countries produced 32 million a day in September, down from the previous month while still above the group’s quota for a 16th month. Private and official manufacturing gauges for China are due Thursday and forecast to show contraction.

Oil has plunged more than 25 percent from this year’s closing peak in June amid speculation a global glut that drove prices to a six-year low will be prolonged. U.S. crude stockpiles remain about 100 million barrels above the five-year seasonal average.

WTI for November delivery gained as much as 30 cents to $45.39 a barrel on the New York Mercantile Exchange and was at $45.36 at 9:16 a.m. Seoul time. The contract lost 14 cents to $45.09 a barrel Wednesday. The volume of all futures traded was about fourfold the 100-day average.

Brent for November settlement added 11 cents, or 0.2 percent, to $48.48 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $3.15 to WTI.

Source : Bloomberg

Japan Topix Gains After Biggest Quarterly Slump in Five Years

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Japanese stocks climbed, after the Topix index posted its steepest quarterly drop in five years, as non-bank lenders and precision instrument makers advanced.

The Topix added 0.7 percent to 1,421.52 as of 9:03 a.m. in Tokyo, gaining for a second day after plunging 4.4 percent on Tuesday. The measure slid 13 percent in the three months through Sept. 30, the biggest decline since the June quarter of 2010. The Nikkei 225 Stock Average rose 0.4 percent to 17,457.13 on Thursday, after retreating 14 percent last quarter.

The Standard & Poor’s 500 Index climbed 1.9 percent Wednesday, paring its worst quarterly rout in four years. Mixed messages on Federal Reserve interest-rate policy combined with worries of a China slowdown sent the S&P 500 to consecutive monthly declines while creating the most turbulent period for stocks in years.

E-mini futures on the U.S. benchmark measure slipped 0.2 percent Thursday.

The Tankan index of sentiment among large manufacturers fell to 12 in the third quarter, from 15 in the previous three months, the Bank of Japan said. Economists had expected a reading of 13. Big companies across all industries plan to boost capital expenditure by 10.9 percent this fiscal year, more than the median economist estimate of 8.7 percent.

Source : Bloomberg

Asian Stocks Track U.S. Advance as Investors Await China Data

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Asian stocks followed U.S. shares higher, after the regional benchmark index posted its worst quarter since 2011, as investors awaited Chinese factory data.

The MSCI Asia Pacific Index advanced 0.2 percent to 124.09 as of 9:01 a.m. in Tokyo. The gauge slumped 15 percent in the three months ended September. The Standard & Poor’s 500 Index rose 1.9 percent in New York Wednesday, its best rally in three weeks, paring its quarterly drop to 6.9 percent.

With almost $11 trillion erased from global shares in the past three months, investors turn to Thursday’s Chinese manufacturing reports for clues on the extent of the slowdown in the world’s second-largest economy. Riskier markets have been sold amid decelerating growth in China, a prolonged commodity slump and an exodus from developing-nation assets as the U.S. prepares to raise interest rates as soon as this year. With a week-long holiday in China from Thursday, money managers will then assess Friday’s U.S. payrolls report for indications on whether the job market is strong enough to withstand tightening.

Source: Bloomberg

U.S. Stocks Advance, Shaving Worst Quarterly Rout in Four Years

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U.S. stocks rallied in September’s final session, with the Standard & Poor’s 500 Index rising the most in three weeks, bringing traders some comfort as equities trimmed their worst quarterly decline since 2011.

The S&P 500 Index climbed 1.9 percent to 1,919.50 at 4 p.m. in New York, the most in three weeks after snapping a five-day losing streak Tuesday. The measure ended September down 2.7 percent.

The S&P 500 slumped 7 percent since the end of June, and posted its first back-to-back quarterly decline in four years. Energy and raw-material companies were the third quarter’s worst performers, plunging more than 17 percent amid concern that weakness in China will curb demand for commodities and crimp global growth.

Source: Bloomberg

Aust dollar holds below US70c

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The Australian dollar is higher, helped by a bounce in US stocks on the back of some strong US consumer confidence data.

At 6.30am (AEST), the local unit was trading at US69.91c, up from US69.47c on Tuesday.

Wall Street spent a large part of its day in negative territory, before enjoying strong gains after a report showed that the US consumer confidence index had risen to 103.0, when a sharp drop had been expected.

Source : Business Spectator

USD/JPY: bullish hammer formation on 120 handle

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USD/JPY is currently trading at 119.64 with a high of 120.16 and a low of 119.24.

USD/JPY is flat with a familiar range. Price is subject to risk-on or risk-off themes as we progress through the sessions. The 200 DMA remains the key resistance at 120.88 today while the downside key support stays with 119.20 today. Stocks picked up in the European shift while the US is performing a little better as well albeit still mainly in the red.

Commodities have picked up and there is a general stabilization in today's US sessions while we await key data with the Nonfarm Payrolls at the end of the week. From Japan, we will see industrial production and retail sales ahead of the Q3 Tankan sentiment survey.

Source : FxStreet

Asian Futures Rise Amid Late U.S. Rally While Yen Holds Advance

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Asian investors took heart from a late-in-the-day rally in U.S. stocks, with futures on indexes from Japan to Australia signaling gains as the worst quarter for global equities since 2011 comes to a close.

Futures foreshadowed a 1.7 percent rebound in the Nikkei 225 Stock Average, which slid to the lowest level since January Tuesday amid an Asia-wide equity selloff as concern over China’s slowdown took hold in markets once again. Copper futures rallied, while crude oil fell as traders looked ahead to data on U.S. supplies due Wednesday. The yen held gains before reports on Japanese retail trade and factory output.

With stocks in Asia headed for their worst quarter since the collapse of Lehman Brothers Holdings Inc., the five-day holiday that starts Thursday in China will provide a reprieve from a country that has been at the epicenter of the global turmoil since devaluing its currency in August. While a jump in consumer confidence helped U.S. stocks erase losses, implied volatility remains almost double its average over the past year as uncertainty over China and the Federal Reserve’s next move keep investors on tenterhooks.

Futures on the Standard & Poor’s 500 Index added 0.1 percent by 8:02 a.m. Tokyo time. The U.S. benchmark reversed a drop of as much as 0.5 percent to end Tuesday up 0.1 percent. The yen was little changed at 119.80 per dollar after rising 0.7 percent the past two days, helping Japan’s currency to become the best performer among major peers the past three months. Copper futures added 0.3 percent, as U.S. oil continued to see-saw, falling 0.7 percent after rising Tuesday.

Selling in biotech and technology stocks continued in the U.S., sending the Russell 2000 Index to its longest slump since 2006 and briefly pushing the Nasdaq Composite below its August close. Ten-year Treasuries climbed, with yields sinking to a one-month low.

Futures on Australia’s S&P/ASX 200 Index were up 0.9 percent in most recent trading, while contracts on Hong Kong’s Hang Seng and Hang Seng China Enterprises indexes climbed at least 0.7 percent. FTSE China A50 Index futures gained 0.6 percent following a 2 percent drop in the Shanghai Composite Index Tuesday. Markets in South Korea resume Wednesday after a two-day holiday.

Source : Bloomberg

S&P 500 Index Trims Quarterly Drop While Apple Weighs on Nasdaq

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The Standard & Poor’s 500 Index trimmed its worst quarterly decline since 2011, as health-care shares rebounded from their est losing streak in four years.

The S&P 500 Index rose 0.1 percent to 1,884.03, at 4:03 in New York, and is down 4.5 percent in September, following August’s 6.3 percent retreat. The Nasdaq Composite Index lost 0.6 percent as Apple Inc. sank 3 percent.

Stocks have been volatile in recent weeks amid confusion over the Federal Reserve’s rate-tightening policy while concern lingers that an economic slowdown in Asia will curb demand for commodities and crimp global growth. The S&P 500 is poised for its worst quarter since 2011, down 9 percent. The benchmark is 12 percent below its all-time high set in May.

Source: Bloomberg

U.S. Stocks Fluctuate as Drop in Consumer Shares Offset Biotechs

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U.S. stocks fluctuated, with declines in consumer shares offsetting a rebound in biotechnology companies, as investors struggle to reconcile the prospects for higher interest rates with lingering concerns about slowing global growth.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,882.09 at 12:21 p.m. in New York, after rising as much as 0.9 percent. The Dow Jones Industrial Average slipped 13.82 points, or 0.1 percent, to 15,988.07. The Nasdaq Composite Index was little changed, and the Russell 2000 Index lost 0.2 percent after slumping to an 11-month low Monday.

Stocks have been volatile in recent weeks amid confusion over the Federal Reserve’s rate tightening policy while concern lingers that an economic slowdown in Asia will curb demand for commodities and crimp global growth. The S&P 500 is poised for its worst quarter since 2011, down 8.6 percent. The benchmark is 11 percent below its all-time high set in May.

The Chicago Board Options Exchange Volatility Index has closed above 20 for the past 26 sessions, the longest streak since January 2012. The measure of market turbulence known as the VIX fell 1.8 percent Tuesday to 27.14 after reaching a three-week high yesterday.

A report today showed consumer confidence unexpectedly gained this month as persistent job gains helped Americans shake off the effects of tumbling stock prices. Another report showed home prices in 20 U.S. cities rose 5 percent in July from the same month a year earlier, propelled by improving demand and limited supply.

Source : Bloomberg

Dollar Gets Support After Fed Officials See 2015 Rate Increase

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The dollar held a two-day advance after two Federal Reserve officials said they expect the central bank to raise interest rates this year.

The greenback maintained gains against most of its major counterparts Monday after New York Fed President William C. Dudley said such a policy move would probably be followed by gradual tightening. He echoed the sentiment of Chair Janet Yellen that an uncertain global outlook won’t postpone liftoff into 2016. San Francisco Fed President John Williams also repeated Monday that he expects rates to climb this year and warned of rapidly rising house prices.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was little changed at 1,214.38 as of 9:32 a.m. in Tokyo. The greenback was at 119.66 yen from 119.92, and almost unchanged at $1.1248 per euro.

Source: Bloomberg

Oil Falls to Two-Week Low as Chinese Data Signals Weaker Demand

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Oil fell to a two-week low as declining Chinese industrial profits signaled demand may be weakening in the biggest crude-consuming country after the U.S.

West Texas Intermediate futures slid 2.8 percent, erasing last week’s 2.3 percent gain. China’s industrial-company profits declined 8.8 percent in August, the most in at least four years. Investors are awaiting the release of measures of its factory output, and U.S. non-farm payrolls data are due later this week.

Crude had rebounded from a six-year low in August as weak prices forced U.S. drillers to idle rigs, causing production to slip in six of the past seven weeks. That rally is sputtering on speculation that a global glut will persist as Chinese economic growth slows and Iran prepares to boost exports should sanctions against the country be lifted.

Source: Bloomberg

Saham Jepang Gabung Selloff Global Seiring Topix Menuju Level Terendah Sejak Februari

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Aksi jual ekuitas global menyebar ke Jepang, mengirim indeks Topix menuju penutupan terendah sejak Februari.

Topix turun 2,4 persen ke level 1,404.83 pada pukul 09:03 pagi waktu Tokyo, dengan kerugian perusahaan ekspedisi dan pembuat baja memimpin penurunan. Indeks Nikkei 225 Stock Average turun 2,1 persen ke level 17,270.23. Yen menguat 0,1 persen ke level 119,75 per dolar setelah penguatan 0,6 persen pada hari Senin seiring investor melarikan aset berisiko. Indeks Standard & Poor 500 jatuh 2,6 persen ke posisi terendah dalam satu bulan imbas jatuhnya saham komoditas setelah data ekonomi yang lemah dari China dan penurunan saham bioteknologi.

E-mini futures S & P 500 naik 0,2 persen. Indeks saham bioteknologi AS jatuh 6 persen pada Senin setelah tenggelam ke bear market pekan lalu. Saham Valeant Pharmaceuticals International Inc merosot ke level terendah dalam empat tahun setelah partai Demokrat di DPR AS meminta untuk memanggil perusahaan untuk dokumen yang berkaitan dengan kenaikan harga obat, langkah terbaru oleh politisi yang berusaha untuk mengekang kenaikan harga pada obat.

Glencore Plc anjlok 29 persen di London pada Senin di tengah kekhawatiran bahwa pedagang komoditas dan penambang tidak memotong beban utang mereka dengan cukup cepat. Saham perusahaan juga terdaftar di Hong Kong, di mana pasar ditutup kemarin karena hari libur. Keuntungan industri China jatuh 8,8 persen pada Agustus dari tahun sebelumnya, laporan menunjukkan hari Senin. Keuntungan di sektor pertambangan batubara anjlok 64,9 persen dalam delapan bulan pertama tahun ini dari bagian yang sama dari 2014. (sdm)

Sumber: Bloomberg

Asian Futures Signal More Losses as Markets Roiled; Bonds Climb

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The selloff sweeping through global equity markets looked set to continue in Asia, with index futures signaling more declines amid mounting concern over the impact of China’s slowdown. Australian bonds rose and the yen held gains as rising volatility fueled demand for haven assets.

Futures on gauges from Japan to Australia slumped as a measure of global stocks tumbled to a two-year low, putting it on track for the worst quarter since 2011. U.S. index futures rallied amid the highest expected price swings for American equities since the start of September, after small-caps and biotechnology companies led Monday’s selloff. The dollar maintained gains against its high-yielding peers as more Federal Reserve officials backed a 2015 interest-rate rise, while copper futures extended their slump.

Nikkei 225 Stock Average futures were bid for 17,400 in the Osaka pre-market, after closing at 17,690 in Japan on Monday. Contracts on Australia’s S&P/ASX 200 Index slid 2 percent amid the rout in commodities, while futures on the FTSE China A50 Index declined 1.4 percent in most recent trading. Markets in Hong Kong and Taiwan resume trading Tuesday after a holiday, while South Korea is closed until Wednesday.

New Zealand’s S&P/NZX 50 Index, the first major stock gauge to start trading each day in the Asian region, retreated 0.9 percent by 12:04 p.m. in Wellington.

Source: Bloomberg

U.S. Stocks Fall as Biotech, Commodity Shares Lead Broad Selloff

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U.S. stocks tumbled toward the worst levels of last month’s selloff as global equities slid amid a rout in commodity and biotechnology shares.

 The Standard & Poor’s 500 Index fell 2.6 percent to 1,881.85 at 4 p.m. in New York, down for a fifth consecutive session to a one-month low. The Russell 2000 Index slumped 2.9 percent to an 11-month low.

The S&P 500 is down 8.8 percent in the third quarter, poised for its worst fall since 2011. The benchmark is almost 12 percent below its all-time high set in May. The Chicago Board Options Exchange Volatility Index has closed above 20 for the past 26 sessions, the longest streak since January 2012.

A report today showed household spending climbed more than forecast in August and incomes also rose as the biggest part of the U.S. economy continued to power past a global slowdown. Separate data showed contract signings to purchase previously owned U.S. homes unexpectedly declined in August for just the second time this year, signaling residential real estate might have difficulty building on recent momentum.

Gold Holds Decline as Investors Look for Further Clues on Rates

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Gold held its drop and headed for a fifth straight quarterly loss on prospects for a rise in U.S. interest rates this year as Federal Reserve policy makers honed their message on the outlook for borrowing costs.

Bullion for immediate delivery traded at $1,146.80 an ounce at 8:50 a.m. in Singapore from $1,146.20 on Friday, when it closed 0.7 percent lower, according to Bloomberg generic pricing.

Gold lost 5.7 percent over the past year as the Fed geared up to raise rates for the first time in almost a decade. St Louis Fed chief James Bullard floated on Friday the possibility of an increase as soon as next month after Chair Janet Yellen said she saw a case for tightening policy in 2015. Higher rates curb the appeal of the metal, which doesn’t pay interest or give returns like competing assets such as bonds and equities.

Odds on a move by the Fed in October are at just 18 percent, while there’s a 43 percent chance for a December move. Monthly U.S. payrolls data due this week may give further clues on the strength in the labor market.

Source: Bloomberg

Dollar Holds Gain as Focus Returns to Signs of Economic Growth

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The dollar held gains from its best week since July as investors look for further signs that the U.S. economy is strong enough for the Federal Reserve to raise interest rates by the end of this year.

The greenback advanced against all of its 16 major counterparts last week after a report on Friday showed the world’s largest economy expanded more than previously forecast in the second quarter and Fed Chair Janet Yellen said the central bank is on track to increase rates by December. The U.S. government will release August figures for personal spending and prices on Monday before announcing payrolls for this month on Oct. 2.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was little changed at 1,214.29 as of 9:01 a.m. in Tokyo, after completing a 1 percent weekly advance on Friday, the biggest since July 17. The gauge has climbed 2.9 percent this quarter.

Central bank officials scheduled to speak this week include New York Fed President William C. Dudley, San Francisco Fed President John Williams and Yellen.

Source: Bloomberg

Asian Stocks Swing Before China Data; Japanese Shares Retreat

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Asian stocks fluctuated, with the regional benchmark index on course for its worst quarter in four years, as investors awaited data on Chinese industrial profits. Shares in Japan slid.

The MSCI Asia Pacific Index added less than 0.1 percent to 125.08 as of 9:04 a.m. in Tokyo after slipping as much as 0.1 percent. The regional gauge has slumped about 15 percent since the end of June, heading for its worst quarter since 2011, as the Federal Reserve prepares to raise interest rates with financial markets rattled by concern over the depth of China’s economic slowdown. Markets in Hong Kong, Taiwan and South Korea are closed for holidays Monday, while mainland China will be shut from Thursday for a week-long break.

E-mini futures on the Standard & Poor’s 500 Index dropped 0.4 percent. A 2.7 percent slump in health-care stocks left the U.S. benchmark index down 0.1 percent on Friday.

U.S. House Speaker John Boehner will resign from Congress at the end of October, following clashes with conservative members of his Republican conference. For some traders, the move reduces the likelihood of a government shutdown as soon as October, while raising the specter of a stalemate later in 2015.

Source: Bloomberg

Japan Stocks Drop as Over 1,000 Topix Members Trade Ex-Dividend

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Japan’s stocks fell, after the Topix index capped its sixth weekly decline in seven weeks, as more than half the companies in the measure traded without the right to receive the next dividend.

The Topix slipped 0.5 percent to 1,446.97 as of 9:01 a.m. in Tokyo, while the Nikkei 225 Stock Average lost 0.4 percent to 17,808.47. More than 1,000 Topix members are trading ex-dividend Monday, equating to a 10.8 point drag on the measure, data compiled by Bloomberg show.

The yen strengthened 0.1 percent to 120.41 per dollar, after sliding 0.4 percent on Friday as Federal Reserve Chair Janet Yellen said the central bank remains on track to raise interest rates in 2015, bolstering the greenback.

E-mini futures on the Standard & Poor’s 500 Index lost 0.5 percent, after the underlying measure dropped less than 0.1 percent on Friday. Biotechnology stocks plunged into a bear market amid concerns over drug prices, while Nike Inc. soared after beating analysts’ profit estimates.

House Speaker John Boehner said he will resign from Congress at the end of October, following clashes with conservative members of his Republican conference. While that frees him to schedule a quick vote on a funding bill that will get enough support from Democrats to avoid a government shutdown on Oct. 1, it shifts the risk to December, when the short-term funding expires.

Source : Bloomberg

S&P 500 Closes Little Changed Amid Biotech Selloff, Nike Rally

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The Standard & Poor’s 500 Index closed little changed, with the benchmark declining for a second straight week as biotechnology stocks tumbled toward a bear market, thwarting a rally led by Nike Inc.

The Standard & Poor’s 500 Index fell less than 0.1 percent to 1,931.51 at 4 p.m. in New York, after earlier rising as much as 1.1 percent. The Nasdaq Composite Index lost 1 percent, erasing a 1.1 percent climb, while the Dow Jones Industrial Average gained 0.7 percent, supported by Nike’s gains.

Equities were initially boosted after Federal Reserve Chair Janet Yellen said in a speech following the close of markets yesterday that the central bank is on course to raise interest rates this year. Yellen’s remarks bolstered confidence the economy is sturdy enough to handle higher borrowing costs. She acknowledged that economic “surprises” could lead policy makers to change that plan.

The Fed held its fire on a rate increase last Thursday, saying it’s considering spillover risks to the U.S. economy from turmoil in global markets. That sparked declines in U.S. equities in five out of six sessions prior to Yellen’s speech. The selloff was briefly interrupted on Monday when Fed officials said a 2015 increase is still warranted. Traders are split on whether it will happen, pricing in about a 44 percent chance of a hike in December and a roughly 52 percent probability of liftoff in January.

Further calming some of investors’ worries about the impact of an emerging-market downturn, data today showed the world’s largest economy expanded more than previously forecast in the second quarter. Growth was boosted by gains in consumer spending and construction. A separate report showed a final measure of consumer sentiment for September fell less than forecast, though it reached the lowest level in almost a year.

Source : Bloomberg

Crude Oil Declines as Iran Advances in Deal to Revive Exports

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Crude dropped as Iran made progress on an accord to lift sanctions on its exports, threatening to add to the surplus in global markets.

Iran’s cooperation with inspectors is aiding the investigation of the nation’s past nuclear activities, the International Atomic Energy Agency told world powers in Vienna on Monday. Successful implementation of a July 14 deal would allow Iran to resume oil sales halted by sanctions. Declines eased in the last hour of trading as a government report tomorrow is forecast to show U.S. crude stockpiles slipped.

Iran’s vow to increase output “at any cost” to reclaim market share will potentially add to a global surplus that Goldman Sachs Group Inc. predicts may keep prices low for the next 15 years. Oil’s slump is taking its toll on shale drilling in the U.S., where production has fallen from the highest level in more than three decades.

West Texas Intermediate for October delivery, which expired Tuesday, fell 85 cents, or 1.8 percent, to settle at $45.83 a barrel on the New York Mercantile Exchange. Futures surged 4.5 percent Monday. The volume of all futures traded was 23 percent below the 100-day average. The more-active November contract slipped 60 cents to $46.36.

Brent for November settlement rose 16 cents to end the session at $49.08 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a $2.72 premium to WTI for the same month.

Source : Bloomberg

Gold dips as renewed rate rise bets lift dollar; commods slide

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Gold fell 1 percent on Tuesday, pressured as the dollar strengthened on renewed expectations that the Federal Reserve will raise U.S. interest rates for the first time in nearly a decade.

Weakness in other commodities also weighed on gold, which rallied last week after the Fed left rates at ultra-low levels, keeping a lid on the opportunity cost of holding non-yielding bullion. Gold failed to maintain those gains after a Fed official emphasized that a rise had only been postponed.

Spot gold was down 0.7 percent at $1,125.22 an ounce at 3:17 p.m. EDT (1917 GMT), while U.S. gold futures for December delivery settled down 0.7 percent at $1,124.80 an ounce.

Platinum slid the most among precious metals, down more than 3 percent to a 6-1/2-year low. Some traders cited news that the falsification of Volkswagen AG U.S. vehicle emission tests could affect 11 million of its cars worldwide. Platinum is used in diesel catalysts.

Platinum was down 3.4 percent at $932.75 an ounce, after falling to its lowest since January 2009 at $929.50.

Source : Reuters

Asia Futures Point to More Stock Losses Before China Factory PMI

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Asian stocks were poised to extend the global equity selloff, with index futures from Australia to the U.S. sliding as the anxiety that marked last month’s market turmoil returns.

Futures on Asian benchmarks slid at least 1 percent in recent trading, after commodity producers and car stocks drove the Standard & Poor’s 500 Index down 1.2 percent to an almost two-week low. Demand for the safest investments continued Wednesday, with Australian and New Zealand bonds tracking a rebound in Treasuries and the yen holding gains. Copper futures hovered near their lowest price this month with a private gauge projected to show a seventh straight month of contraction in China’s manufacturing sector.

Renewed concern over China’s faltering economy, the source of last month’s market ructions, sank commodities on Tuesday, with equity volatility spiking from the U.S. to Europe as the scandal over car emissions standards engulfing Volkswagen AG also frayed nerves. Markets have been swinging since the Federal Reserve stood pat on interest rates last week, as officials proclaiming the strength of the U.S. economy and prospects for a hike this year muddy the waters. Japanese markets remain closed for holidays Wednesday.

Source : Bloomberg

U.S. Stocks Retreat Amid Global Slump in Auto, Commodity Shares

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U.S. stocks fell, with raw-material shares dragged lower as commodities retreated, a selloff in biotechnology shares deepened and Volkswagen AG’s diesel-emissions cheating scandal continued to rattle global auto stocks.

The Standard & Poor’s 500 Index lost 1.2 percent to 1,942.62 at 4 p.m. in New York, trimming a decline in the final hour after falling as much as 1.9 percent. It’s the third drop in four days, sending the gauge to a two-week low. A gauge of volatility posted its biggest gain in a month.

Equities got a boost Monday after a quartet of Fed officials talked up prospects for higher interest rates in 2015, just days after the central bank jolted investors by citing global market turmoil and a slowdown in China as reasons for standing pat. Their remarks suggested continued improvement in the domestic economy may overshadow concerns about global conditions.

The central bank’s bid for greater transparency about its criteria for a rate increase has left markets twitching with every economic report amid an expanding Fed checklist and conflicting U.S. data. Fed Chair Yellen said last week that policy makers would scrutinize slowing growth in China and emerging markets for risks that could spill over to the U.S.

Meanwhile, the market remains unconvinced a liftoff will take place this year after the Fed’s decision and its dovish statement. Traders are pricing in a roughly 41 percent probability of a rate increase by the Federal Open Market Committee’s December meeting, compared with 64 percent on Sept. 16 before the policy decision.

Source : Bloomberg

U.S. Stocks Retreat Amid Global Slump in Auto, Commodity Shares

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U.S. stocks fell, with raw-material shares dragged lower as commodities retreated, a selloff in biotechnology shares deepened and Volkswagen AG’s diesel-emissions cheating scandal continued to rattle global auto stocks.

Fiat Chrysler Automobiles NV fell 6.2 percent, while Ford Motor Co. and General Motors Co. lost at least 2.8 percent. Dow Chemical Co. and Alcoa Inc. dropped more than 1.3 percent amid sliding commodity prices. The Nasdaq Biotechnology Index sank 2.9 percent after losing 4.4 percent Monday. Apple Inc., Google Inc. and Facebook Inc. declined at least 1.9 percent.

The Standard & Poor’s 500 Index lost 1.4 percent to 1,939.39 at 12:22 p.m. in New York, after rising 0.5 percent yesterday. The Dow Jones Industrial Average slid 216.33 points, or 1.3 percent, to 16,293.86. The Nasdaq Composite Index slumped 1.8 percent. A gauge of volatility was headed for its biggest gain in a month.

Source : Bloomberg

Oil Climbs as Falling U.S. Rig Count Seen Further Curbing Output

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Oil advanced on signs that producers are investing less in drilling, which could take a bigger bite out of falling U.S. crude production.

Explorers idled oil rigs for a third straight week in the U.S., Baker Hughes Inc. said Friday. U.S. crude output has fallen for six weeks as the price slump over the past year takes its toll on the shale-oil industry. About $1.5 trillion of potential investment in new oil projects isn’t viable with prices at $50 a barrel, according to consultant Wood Mackenzie Ltd.

Oil is down about 50 percent from a year ago in New York amid a global oversupply that Goldman Sachs Group Inc. predicts may keep prices low for the next 15 years. WTI’s discount to Brent oil traded in London slipped to the narrowest since January last week, signaling that the global supply glut is expanding while it’s shrinking in the U.S.

West Texas Intermediate for October delivery which expires Tuesday, rose $2, or 4.5 percent, to settle at $46.68 a barrel on the New York Mercantile Exchange. The volume of all futures traded was 28 percent below the 100-day average. The more active November contract increased $1.94 to $46.96.

Brent for November settlement advanced $1.45, or 3 percent, to close at $48.92 a barrel on the London-based ICE Futures Europe exchange. The North Sea oil ended the session $1.96 higher than November WTI.

The European crude has weakened relative to WTI as shipments from Nigeria and Angola -- which are priced using Brent -- reach their highest since 2008, Miswin Mahesh and Michael Cohen, analysts at Barclays Plc., said in a report on Monday. North Sea exports are forecast to climb next month.

Source : Bloomberg

Gold Declines as Comments From Fed Officials Fuel Rate Concerns

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Gold futures fell for the second time in three sessions as comments from some Federal Reserve officials fueled concern that the central bank may raise interest rates this year.

Three policy makers argued for lifting the Fed’s key rate before year-end, days after a September increase was rejected amid financial-market volatility and concern about an economic slowdown in China. Tighter monetary policy curbs demand for gold because it doesn’t pay interest, unlike competing assets.

The comments counter bets by many traders that the Fed will wait until 2016. Interest-rate futures now give just a 20 percent chance of an increase at the Fed’s October meeting, and almost 49 percent probability of a move by December, according to data compiled by Bloomberg. On Friday, odds of a December move were less than 46 percent.

Gold futures for December delivery fell 0.4 percent to settle at $1,132.80 an ounce at 1:44 p.m. on the Comex in New York. Prices on Friday posted the first weekly advance since Aug. 21 after the Fed held rates unchanged.

While this year has been marked by investors pulling money out of gold funds, there are some recent signs of indecision. The amount of bullion held in exchange-traded products has risen and fallen in alternating fashion over the past six days, the longest period of see-sawing this year.

Assets increased by 0.8 metric tons to 1,517.3 tons, data compiled by Bloomberg as of Friday showed.

Source : Bloomberg

Saham Cina Berfluktuasi Sebelum Data Manufaktur

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Saham China fluktuatif diantara keuntungan dan kerugian sebelum rilis data manufaktur pada hari Rabu.

Shanghai Composite Index tergelincir 0,1 persen ke level 3,154.64 pada pukul 09:34 pagi waktu setempat. Indeks acuan itu menguat 1,9 persen pada hari Senin di tengah spekulasi kunjungan kenegaraan Presiden Xi Jinping ke AS akan meningkatkan permintaan untuk permintaan teknologi dan industri nasional.

'Manufaktur Purchasing Managers' Index Caixin Media dan Markit Economics, yang dikenal sebagai flash PMI, mungkin akan menunjukkan pembacaan di level 47,5 untuk September, dibandingkan dengan 47,3 pada bulan Agustus, berdasarkan estimasi median dari 22 ekonom yang disurvei Bloomberg. Angka di bawah 50 merupakan sinyal dari  kontraksi.

Para pejabat Inggris mengatakan mereka akan mempelajari kelayakan menyiapkan link perdagangan saham London-Shanghai. Studi ini akan dibahas saat pembicaraan tahunan berikutnya, Menteri Keuangan Britania Raya Inggris George Osborne mengatakan pada briefing di Beijing, kemarin. Link exchange Hong Kong-Shanghai, yang dimulai tahun lalu, dianggap sebagai langkah besar di Cina memungkinkan akses asing untuk masuk ke pasar ekuitas terbesar kedua di dunia ini dan katalis untuk Composite Index Shanghai menggandakan program pada awal 17 November ke puncak indeks ekuitas Juni.

Link perdagangan saham London-Shanghai akan positif untuk pasar ekuitas Cina dan Inggris, menurut komentar di halaman depan The Securities Times. Kekhawatiran yang berlebihan atas volatilitas keuangan mungkin tidak diperlukan seiring dengan China yang membuka pasar sahamnya, kata surat kabar itu.(sdm)

Sumber: Bloomberg

Most Asian Stocks Advance as Consumer, Material Companies Rally

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Most Asian stocks rose, following a rebound in U.S. equities. Consumer and material shares led gains.

Four shares climbed for each that fell on the MSCI Asia Pacific Excluding Japan Index, which was little changed as of 8:04 a.m. in Hong Kong. Japanese markets are closed for a holiday. U.S. stocks rose after Fed Bank of Atlanta chief Dennis Lockhart joined Fed presidents from San Francisco, St Louis and Richmond on Monday, saying he remains confident policy will be tightened this year as concern over turmoil in global markets touted by Chair Janet Yellen last week should prove temporary.

With Fed Chair Janet Yellen slated to speak later this week, potentially providing more clarity as to whether to expect a rate increase this year, interest-rate futures indicate traders remain skeptical of a move in 2015. Odds of a hike at the next meeting in October are at 20 percent, according to fed funds futures, while the probability of an increase at the last meeting of the year, on Dec. 16, is 48.8 percent, down from 58.7 percent a week ago.

Source: Bloomberg

U.S. Shares Rise After Selloff Amid Optimism on Domestic Growth

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U.S. shares advanced, following a two-day selloff, as investors took an optimistic view on domestic growth amid reassuring comments from Federal Reserve policy makers.

The Standard & Poor’s 500 Index added 0.5 percent to 1,967.15 at 4 p.m. in New York, after briefly erasing a 1.1 percent gain. The gauge fell a combined 1.9 percent over Thursday and Friday.

Just days after the central bank voted to hold interest rates near zero, sparking the biggest post-meeting selloff since July 2014, four Fed officials separately said the U.S. economy is strong enough to withstand a hike this year. Their remarks suggested continued improvement in the domestic economy may overshadow concerns about global conditions.

The quartet of policy makers who spoke out contended that any threat from abroad is temporary, providing an antidote to Chair Janet Yellen’s warning last week that global financial-market turmoil could harm growth.

After the Fed left rates unchanged, the S&P 500 erased its weekly gain, with financial companies tumbling. The late-week slump put the finish another period of indecision as the equity gauge capped its 10th straight week of back-and-forth results with a decline of 0.2 percent.

Source : Bloomberg

Oil Trades Near $45 as Saudi Stockpiles Climb Amid Supply Glut

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Oil traded near $45 a barrel in New York as Saudi Arabia’s oil stockpiles climbed to a record, adding to signs that the global oversupply may persist.

Futures were little changed in New York after declining 4.7 percent on Friday. Commercial petroleum stockpiles held by the world’s biggest crude exporter increased to 320 million barrels, the highest since at least 2002, according to data Sunday on the website of the Riyadh-based Joint Organisations Data Initiative. Venezuela and Saudi Arabia agreed to restore stability in the oil market, Foreign Minister Delcy Rodriguez said on Twitter over the weekend.

Oil is down more than 25 percent from this year’s closing peak in June amid a global oversupply that Goldman Sachs Group Inc. predicts may keep prices low for the next 15 years. The Organization of Petroleum Exporting Countries has sustained output amid the glut, producing above the group’s target of 30 million barrels a day for a 15th month in August, according to data compiled by Bloomberg.

West Texas Intermediate for October delivery, which expires Tuesday, was at $44.83 a barrel on the New York Mercantile Exchange, up 15 cents, at 9:44 a.m. Seoul time. The contract lost $2.22 to $44.68 on Friday. The volume of all futures traded was about 22 percent below the 100-day average. The more-active November future rose 14 cents to $45.16.

Brent for November settlement was 6 cents higher at $47.53 a barrel on the London-based ICE Futures Europe exchange. Front-month prices slid 1.4 percent last week. The European benchmark crude traded at a premium of $2.37 to WTI for November.

Saudi Arabia cut back oil production by 1.9 percent in July, the first drop since February, to 10.36 million barrels a day, according to the JODI data. Crude exports slumped 1.2 percent to 7.28 million barrels a day.

Money managers’ net-long position in WTI rose by 14,821 contracts to 147,678 futures and options in the week ended Sept. 15, leaving them the most bullish in two months, U.S. Commodity Futures Trading Commission data showed.

Source: Bloomberg

Euro Extends Decline as ECB Officials Stress Divergence From Fed

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The euro extended a drop from Friday, the biggest in three weeks, as traders anticipated European Central Bank officials will continue to flag a readiness to ease monetary policy amid the risk of slower growth and inflation.

Europe’s common currency slid on Friday as Benoit Coeure, an ECB Executive Board member, emphasized that U.S. and Europe’s policy trajectories will “remain very different,” even after the Federal Reserve refrained for increasing interest rates last week. His peers Ewald Nowotny and Peter Praet are scheduled to speak on Monday. Euro declines may be limited after Alexis Tsipras was returned to power in Greece following an emphatic election victory, keeping the nation’s reform agenda on track before an international review due by year’s end.

The common currency was at $1.1296 as of 8:11 a.m. in Singapore after dropping 1.2 percent to $1.1298 on Friday. It was little changed at 135.52 yen. The dollar fetched 119.96 yen from 119.98. Japanese markets are closed for holidays on Monday through Wednesday.

While the Fed on Thursday held off, Chair Janet Yellen said most officials still expect to tighten borrowing costs this year for the first time in almost a decade. Futures indicate a 46 percent chance of an increase in December, a 53 percent probability of a January move and 67 percent odds the Fed will raise its benchmark in March.

Analysts say the delay could add to pressure on the ECB to expand its quantitative-easing program to counter a stronger euro and weaker global demand.

The euro has climbed 3.4 percent in the past three months, according to Bloomberg Correlation-Weighted Indexes. The dollar has climbed 4.1 percent and the yen is up 6.7 percent over that period.

Hedge funds and other money managers boosted net bearish bets on the euro for the third week in the period ended Sept. 15 to 84,202 contracts from 81,241, according to data from the Commodity Futures Trading Commission.

Source: Bloomberg

Asian Stocks Decline on Global Growth Concern After Fed Comments

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Asian stocks declined after U.S. shares fell and Federal Reserve officials argued that an interest-rate increase is still warranted this year. Markets in Japan are closed.

The MSCI Asia Pacific Excluding Japan Index lost 0.6 percent to 410.10 as of 10:01 a.m. in Sydney, before markets in China and Hong Kong opened. Australia’s S&P/ASX 200 Index fell 0.4 percent and South Korea’s Kospi index retreated 1.1 percent. New Zealand’s S&P/NZX 50 Index slipped 0.1 percent. The Standard & Poor’s 500 Index lost 1.6 percent on Friday.

Three U.S. policy makers at the weekend separately explained their rationale for supporting a rate increase at one of the Fed’s two remaining meetings of 2015, citing declines in unemployment and other gains in the U.S. economy that should outweigh headwinds from slower growth abroad and turbulent financial markets.

Source: Bloomberg

U.S. Stocks Tumble as Fed Decision Spurs Global Economy Concerns

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U.S. stocks tumbled, erasing the week’s gain in the Standard & Poor’s 500 Index, as the Federal Reserve’s warnings over the global economic outlook rippled across financial markets.

The S&P 500 lost 1.6 percent to 1,958.13 at 4 p.m. in New York. Banks took a hit for a second day, wiping out a rally from earlier in the week, while energy shares plunged with the price of oil. The VIX, a measure of market volatility, climbed for the first time in four days.

Equity volatility may have increased as some futures and options on stocks and indexes expire today in a process known as quadruple witching. Trading in S&P 500 companies was 50 percent above the 30-day average.

The operator of the S&P 500 will also rebalance the index in a quarterly move to adjust member weightings. About $41 billion of shares was expected to be traded as investors buy and sell stocks to mimic the changes, according to a Sept. 8 estimate by Howard Silverblatt, an index analyst at the New York-based S&P Dow Jones Indices.

Equity markets have been turbulent amid concerns about a China slowdown and the Fed’s intentions. The Chicago Board Options Volatility Index endured its biggest weekly gain on record in August, and has closed above 20 for 20 straight sessions, the longest stretch since June 2012. The VIX jumped 11 percent to 23.45 today.

Source: Bloomberg

U.S. Stocks Fall as Fed Decision Spurs Economy Concern

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U.S. stocks slumped as investors speculated the Federal Reserve’s refusal to raise rates bespeaks larger concerns about the strength of the global economy.

The Standard & Poor’s 500 Index lost 1.2 percent to 1,966.72 at 12:52 p.m. in New York. The gauge pared its gain for the week to 0.3 percent. The Dow Jones Industrial Average dropped 238.61 points, or 1.4 percent, to 16,436.13. The Dow Jones Transportation Average slumped 1.5 percent.

Some futures and options on stocks and indexes expire today in a process known as quadruple witching, which may increase stock volatility. Trading in S&P 500 companies was 38 percent above the 30-day average.

The operator of the S&P 500 will also rebalance the index in a quarterly move to adjust member weightings. About $41 billion of shares will be traded as investors buy and sell stocks to mimic the changes, according to a Sept. 8 estimate by Howard Silverblatt, an index analyst at the New York-based S&P Dow Jones Indices.

Source: Bloomberg

Dollar Falls to 3-Week Low as Fed Keeps Interest Rates Unchanged

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The dollar fell to a three-week low after the Federal Reserve held off on raising interest rates.

The U.S. central bank declined to boost its short-term interest-rate target at its policy-setting meeting in Washington, opting to delay an increase amid stubbornly low inflation, an uncertain outlook for global growth and recent financial-market turmoil.

The Bloomberg Dollar Spot Index dropped 0.4 percent percent to 1,196.46 as of 2:10 p.m. in New York, reaching the lowest level since Aug. 26. The U.S. currency declined 0.8 percent to $1.1378 per euro.

Source : Bloomberg

Oil Holds Near $47 After Federal Reserve Leaves Rates Unchanged

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Oil traded near $47 a barrel after the Federal Reserve left interest rates unchanged.

Futures edged lower in New York after climbing 5.7 percent Wednesday on an unexpected decline in U.S. crude stockpiles. The dollar dropped after the U.S. central bank declined to boost its short-term interest-rate target at its policy-setting meeting in Washington. A weaker U.S. currency bolsters the appeal of commodities priced in the greenback as a store of value.

Oil is down 23 percent from this year’s peak in June amid a persistent global oversupply. U.S. crude inventories remain about 100 million barrels above the five-year seasonal average after government data Wednesday showed an unexpected decline last week.

West Texas Intermediate for October delivery slipped 25 cents, or 0.5 percent, to settle at $46.90 a barrel on the New York Mercantile Exchange. It was $46.75 before the decision was announced at 2 p.m. in Washington.

Source: Bloomberg

Gold Prices Head Higher After Fed Stands Pat on Rates

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Gold futures climbed in electronic trading Thursday, as the Federal Reserve left interest rates unchanged.

Prices for the metal had settled with a loss Thursday shortly before the Fed announcement, which was one of the most anticipated in recent memory.

In its announcement, the central bank implied a hike is still on tap before the end of the year.

Following the Fed announcement, gold for December delivery traded at $1,127.20 an ounce in electronic trading on Globex. That’s up from an earlier settlement on Comex, where prices fell $2, or 0.2%, to settle at $1,117 Thursday.

The U.S. dollar index traded sharply lower after the Fed news, providing support for dollar-denominated gold in the electronic session.

On Wednesday, prices registered their largest single-session gain in nearly a month as the Fed was seen as reluctant to lift rates in the wake of a weak reading on U.S. inflation.

On Thursday, data showed weekly jobless claims fell, underscoring the strength of the labor market, but declines in August housing starts and the September Philadelphia Fed’s manufacturing index highlighted potential economic concerns.

Other metals on Thursday settled mixed ahead of the Fed decision. December silver rose 9.9 cents, or 0.7%, to $14.984 an ounce and December copper ended flat at $2.452 a pound. October platinum shed $7.30, or 0.8%, to $968.40 an ounce and December palladium lost $12.75, or 2.1%, to $599.20 an ounce.

Source : MarketWatch

U.S. Stocks Drop as Rate Decision Fuels Global Economy Concern

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U.S. stocks ended lower, after swinging between gains and losses, as the Federal Reserve’s decision to keep interest rates near zero percent raised questions about the strength of the global economy.

The Fed kept its policy interest rate unchanged, showing reluctance to end an era of record monetary stimulus in a time of market turmoil, rising international risks and slow inflation at home. Stocks erased an advance after Chair Janet Yellen indicated that risks in the global economy overshadowed signs of strength in America while inflation remained stubbornly low.

The Standard & Poor’s 500 Index fell 0.3 percent to 1,990.19 at 4 p.m. in New York, reversing a gain of as much as 1.3 percent. Stocks most sensitive to interest rates had the largest moves, with utilities and real-estate companies advancing more than 0.9 percent while banks lost 2.4 percent.

The decision to stand pat on rates keeps a pillar of the bull market in place, as record-low borrowing costs have helped propel stocks higher by nearly 200 percent in the past 6 1/2 years.

It also amplifies uncertainty about the strength of the American economy at a time financial markets have been roiled by concern that a slowdown in China will spread. The S&P 500 had fallen 3.1 percent this year through Wednesday after three years of double-digit gains.

Source: Bloomberg

U.S. Stocks Fluctuate With Treasuries Before Fed Rate Decision

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U.S. shares fluctuated near a four-week high, while Treasuries and the dollar were little changed as investors turned cautious before the Federal Reserve renders its decision on interest rates.

Futures traders see only a 30 percent chance that policy makers will raise rates on Thursday at the same time 54 of 113 economists surveyed by Bloomberg predict some kind of increase. Investors have dialed back expectations for higher rates since China devalued its currency last month, sparking a sell-off in global markets.

The Standard & Poor’s 500 Index rose 0.1 percent at 12:27 a.m. in New York and the Stoxx Europe 600 Index slipped 0.2 percent. Both gauges have closed higher in each of the past two days.

The S&P 500 gained 2.7 percent in the five days through Wednesday, its biggest rally leading up to a rate decision since August 2012.

Reports on Thursday showed that while new-home construction in the U.S. fell in August, jobless claims declined to a two-month low last week, highlighting a resilient labor market.

Source: Bloomberg

Oil Surges the Most in Two Weeks After U.S. Inventories Decline

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Oil rose the most this month after a government report showed U.S. crude inventories declined as refineries bolstered operating rates.

Stockpiles slipped 2.1 million barrels last week, according to the Energy Information Administration. Refineries increased operating rates for the first time since July, and supplies of gasoline and distillate fuels surged. Stocks of oil exploration and production companies rallied, while those of refiners fell.

Oil has fluctuated since slumping below $40 a barrel last month as concern that China’s growth was slowing fueled volatility in markets

West Texas Intermediate for October delivery rose $2.56, or 5.7 percent, to settle at $47.15 a barrel on the New York Mercantile Exchange. It was the highest close and biggest one-day gain since Aug. 31. Volume was 42 percent above the 100-day average at 2:55 p.m.

Brent for November settlement climbed $2, or 4.2 percent, to end the session at $49.75 a barrel on the London-based ICE Futures Europe exchange.

Source: Bloomberg