Topix Falls First Time in Nine Days on Outlook for Fed Rate Rise

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Japan stocks fell, with the Topix index halting its longest winning streak since June, as strong U.S. data bolstered the case for raising interest rates.

The Topix dropped 0.2 percent to 1,655.90 as of 9:05 a.m. in Tokyo, heading for its first decline in nine days. The Nikkei 225 Stock Average retreated 0.3 percent to 20,394.36. The yen traded at 123.08 per dollar after yesterday falling 1.3 percent to its weakest since July 2007. The MSCI World Index lost the most since March 10, with concern Greece’s debt crisis could spread across Europe also weighing on shares.

Better-than-estimated capital goods orders and new-home sales came after Federal Reserve Chair Janet Yellen indicated the central bank will raise rates this year if the economy improves as she expects. Fed Bank of Cleveland President Loretta Mester echoed her comments on Monday, saying the U.S. economy is close to the point where it can support higher borrowing costs.

Greece’s government continued negotiating for a bailout ahead of an International Monetary Fund payment due next month. The nation’s finance minister, Yanis Varoufakis, blamed insistence on more austerity for the lack of a deal that would release the funds. Spanish bonds slumped after the anti-austerity party made advances in local elections across the country.

Source: Bloomberg

Asia Stocks Follow U.S. Shares Lower as Data Spur Rate-Rise Bets

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Asian stocks dropped, following a decline in U.S. equities, after better-than-estimated economic data bolstered the case for higher interest rates in the world’s largest economy.

The MSCI Asia Pacific Index lost 0.3 percent to 152.77 as of 9:01 a.m. in Tokyo. The Standard & Poor’s 500 Index sank 1 percent on Tuesday, its biggest slide since May 5, as strong readings for U.S. capital-goods orders and new home sales fueled bets for higher rates. Japan’s Topix index slipped 0.3 percent today even after the yen weakened 1.3 percent to an almost eight-year low against the dollar Tuesday. In Europe, talks between Greece and its creditors are said to be stalling.

South Korea’s Kospi index fell 0.6 percent. Australia’s S&P/ASX 200 Index retreated 0.3 percent and New Zealand’s NZX 50 Index lost 0.4 percent.

Futures on the Hang Seng China Enterprises Index, a gauge of Chinese stocks listed in Hong Kong, added 0.4 percent in most recent trading, after the index climbed to its highest level since January 2008 on Tuesday. Contracts on the FTSE China A50 Index rose 0.3 percent, following a 2 percent surge in the Shanghai Composite Index for a sixth day of gains.

E-mini futures on the S&P 500 slid less than 0.1 percent today.

Source: Bloomberg

U.S. Stocks Fall as Better Data, Fed Remarks Boost Rate Bets

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U.S. stocks fell the most in three weeks, as better-than-forecast economic data and comments by Federal Reserve officials bolstered bets for an interest-rate increase this year.

The Standard & Poor’s 500 Index declined 1 percent to 2,104.32 at 4 p.m. in New York, after a third straight weekly advance. The Dow Jones Industrial Average ended a six-session stretch without a 100-point intraday swing, the longest in almost a year.

Better-than-estimated increases in capital goods orders and new-home sales came after Federal Reserve Chair Janet Yellen indicated the central bank will raise borrowing costs this year if the economy improves as she expects. Fed Bank of Cleveland President Loretta Mester echoed her comments on Monday, saying the U.S. economy is close to the point where it can support higher rates.

Source : Bloomberg

Gold Slumps to Two-Week Low as Dollar Gains on Fed Rate Outlook

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Gold futures fell to a two-week low as the dollar strengthened amid speculation that the Federal Reserve will raise U.S. interest rates this year.

The greenback climbed to a one-month high against a basket of 10 currencies, cutting demand for gold as an alternative investment. Accelerating inflation and jobs growth mean the “time is near” for a rate increase, Fed Bank of Cleveland President Loretta Mester said Monday.

Gold swung between year-to-date gains and losses more than 10 times in 2015, gyrating as traders tried to gauge when policy makers are likely to raise borrowing costs. Higher rates drive investors to favor assets that pay interest, including new bonds, curbing the appeal of gold, which generally offers returns only through price gains.

Gold futures for August delivery declined 1.4 percent to settle at $1,187.80 an ounce at 1:46 p.m. on the Comex in New York. The metal touched $1,185.60, the lowest for a most-active contract since May 12. Trading on all monthly contracts doubled compared with the 100-day average, according to data compiled by Bloomberg.

The price dropped 1.7 percent last week. Inflation rose more than forecast in April, government figures showed Friday, and Fed Chair Janet Yellen said the same day it would be “appropriate” to raise rates this year if the economy improves.

Source : Bloomberg

Gold Futures Decline to Two-Week Low as Dollar Gains on Fed

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Gold futures fell to a two-week low as the dollar strengthened amid speculation that the Federal Reserve will raise interest rates this year.

The Bloomberg Dollar Spot Index climbed to a one-month high, cutting demand for the precious metal as an alternative. Accelerating inflation and jobs growth mean the “time is near” for a U.S. rate increase, Fed Bank of Cleveland President Loretta Mester said Monday.

Gold swung between year-to-date gains and losses more than 10 times in 2015, gyrating as traders tried to gauge when policy makers are likely to raise interest rates. Higher rates drive investors to favor assets that pay interest, including new bonds, curbing the appeal of gold, which generally offers returns only through price gains.

Gold futures for August delivery declined 1.3 percent to $1,188.80 an ounce at 9:49 a.m. on the Comex in New York, after touching $1,185.90, the lowest since May 12.

Prices dropped 1.7 percent last week. U.S. inflation rose more than forecast in April, government figures showed Friday, and Fed Chair Janet Yellen said the same day it would be “appropriate” to raise borrowing costs this year if the economy improves.

Silver futures for July delivery declined 1.4 percent to $16.815 an ounce, headed for the biggest drop in a week.

Source : Bloomberg

Oil Trades Near $60 as Mideast Violence Flares Before OPEC Talks

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Oil traded near $60 a barrel amid rising violence in the Middle East before OPEC meets to discuss its production quota next month.

Futures were little changed in New York. Iraq’s Prime Minister vowed a swift takeover of the city of Ramadi from Islamic State militants, while Saudi Arabia’s King vowed to punish those responsible for a suicide attack on Shiite-Muslim worshipers in his nation. There was no floor session Monday on the Nymex because of the Memorial Day holiday, and transactions will be booked Tuesday for settlement purposes.

Oil’s rebound from a six-year low is faltering near $60 a barrel amid speculation a global glut will persist as rising prices spur a recovery in U.S. production. The Organization of Petroleum Exporting Countries has exacerbated the surplus by resisting calls to cut supply as it focuses on maintaining market share. The group meets in Vienna June 5.

West Texas Intermediate for July delivery was at $59.86 a barrel in electronic trading on the New York Mercantile Exchange, up 14 cents from the May 22 close at 10:12 a.m. Sydney time. The contract fell $1 to $59.72 on Friday. Prices have increased 12 percent this year.

Brent for July settlement rose 6 cents, or 0.1 percent, to $65.58 a barrel on the London-based ICE Futures Europe exchange on Monday. The European benchmark crude ended the session at a premium of $5.65 to WTI on Friday.

Source: Bloomberg

Emas Bertahan Diatas $ 1.200 Terkait Outlook Suku Bunga AS

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Emas bertahan di atas $ 1.200 per ons karena investor mengkaji komentar dari para pembuat kebijakan bank sentral AS sebagai petunjuk terkait kapan Federal Reserve akan mulai menaikkan biaya pinjaman. Sementara Perak dan platinum turun.

Bullion untuk pengiriman segera diperdagangkan sedikit berubah di level $ 1,206.25 per ons pada pukul 8:22 pagi di Singapura, menurut Bloomberg generic pricing. Pergerakan logam pada Senin kemarin berakhir di level $ 1,206.60 setelah naik dan turun sebanyak 0,3%.

Emas 1,9% lebih tinggi dalam tahun ini di tengah spekulasi pejabat The Fed akan menaikkan suku bunga tahun ini untuk pertama kalinya sejak tahun 2006. Percepatan pertumbuhan inflasi dan pekerjaan mendorong ekonomi mendekat ke titik di mana emas dapat mendukung suku bunga yang lebih tinggi, Presiden The Fed Bank Cleveland Loretta Mester mengatakan dalam sebuah wawancara, sedangkan Wakil Ketua The Fed Stanley Fischer mengatakan prosesnya akan ditentukan oleh data, bukan tanggal. Suku bunga yang lebih tinggi menekan emas karena umumnya menawarkan pengembalian hanya melalui kenaikan harga.

Emas untuk pengiriman Agustus diperdagangkan di level $ 1,206.50 di Comex New York dari $ 1,204.90 pada hari Jumat. Sementara perak untuk pengiriman segera kehilangan 0,4% ke level $ 17,108 per ounce.(frk)

Sumber: Bloomberg

Gold Steady Near $1,200 as Interest Rate Outlook Boosts Dollar

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Gold prices traded little changed slipped as prospects for the first U.S. interest rate increase since 2006 helped to push the dollar to a one-month high. Silver and palladium declined.

Federal Reserve Chair Janet Yellen said she expects to raise rates this year if the economy meets her forecasts. Inflation is moving toward the Fed’s 2 percent target, with a report on Friday showing that core consumer prices climbed 0.3 percent in April, the biggest gain in more than two years. While a pickup in inflation can boost demand for bullion as a hedge, higher borrowing costs cut the allure of the metal, which generally provides returns only through price gains.

Bullion for immediate delivery rose less than 0.1 percent to close at $1,206.60 an ounce at 5 p.m. New York time, Bloomberg generic pricing showed. The metal dropped 1.5 percent last week, the most since the period to April 24.

Gold futures for August delivery gained 0.2 percent to $1,207.60 an ounce on the Comex in New York. Aggregate trading was 70 percent below the 100-day average for this time, according to data compiled by Bloomberg.

The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, rose as much as 0.2 percent to the highest since April 27. The measure advanced 2.6 percent last week, the most since September 2011.

Silver for immediate delivery climbed 0.4 percent to $17.1775 an ounce. Platinum added 0.5 percent to $1,151.75 an ounce, while spot palladium fell 0.2 percent to $788.70 an ounce.

Source : Bloomberg

Indeks Saham Asia Turun Untuk Pertama Kalinya Dalam 4 Hari

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Indeks acuan saham regional Asia menuju penurunan pertama dalam empat hari, dengan saham-saham Korea Selatan tergelincir setelah pasar saham dibuka kembali pasca liburan. Perusahaan kesehatan dan konsumen memimpin penurunan.

Indeks MSCI Asia Pacific melemah 0,1% ke level 153,73 pada pukul 09:06 pagi di Tokyo. Indeks mata uang dolar menambahkan 0,7% selama tiga hari terakhir. Investor menunggu laporan barang tahan lama AS hari Selasa setelah pembacaan minggu lalu terkait penguatan inflasi dari yang diharapkan, membawa Federal Reserve selangkah lebih dekat untuk menaikkan suku bunga.

Ekonomi Singapura diperluas 3,2% untuk tahunan pada kuartal pertama, menurut perkiraan akhir pemerintah. Itu lebih cepat dari pembacaan awal yaitu 1,1%.

Indeks Kospi Korea Selatan turun 0,2%. Pasar saham di Hong Kong, yang juga ditutup pada hari Senin kemarin, belum dibuka. Indeks Topix Jepang naik 0,1%. Indeks S&P/ASX 200 Australia naik 0,2% sementara Indeks NZX 50 Selandia Baru turun 0,1%.(frk)

Sumber: Bloomberg

Japanese Stocks Rise Eighth Day as Oil Stocks, Utilities Climb

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Japanese stocks rose for an eighth day after closing Monday at the highest level since 2007, with oil producers and utilities leading the advance.

The Topix index added 0.1 percent to 1,661.21 as of 9:02 a.m. in Tokyo. The Nikkei 225 Stock Average gained 0.2 percent to 20,454.46, extending a 15-year high. U.S. cash-equity markets were closed Monday for the Memorial Day holiday. The yen slipped 0.1 percent to 121.69 per dollar.

The nation’s exports rose more than forecast in April, a report showed Monday, after data last week indicated gross domestic product expanded for a second quarter. The Topix, which has climbed 18 percent this year, trades at 16.1 times estimated earnings, compared with 18 times for the Standard & Poor’s 500 Index.

Suntory Beverage & Food Ltd., which sells PepsiCo Inc. drinks in Asia, rose 1.4 percent after saying it will buy Japan Tobacco Inc.’s vending machines for about 150 billion yen ($1.2 billion) to add to its own, closing a distribution gap with Coca-Cola Co. in the country.

Source: Bloomberg

Oil Trades Near $60 a Barrel as U.S. Drillers Add Onshore Rigs

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Oil traded near $60 a barrel as explorers in the U.S. increased drilling activity for the first time since November.

Futures were little changed in New York after falling 1.7 percent on Friday. The number of onshore rigs climbed by three to 853, while total machines targeting oil slid by one, data from Baker Hughes Inc. showed. Venezuela is working with OPEC members to boost prices, President Nicolas Maduro said in a national address.

Oil’s rebound from a six-year low is faltering near $60 a barrel amid speculation that rising prices will encourage companies such as EOG Resources Inc. to add to supplies. Crude inventories in the U.S., the world’s biggest oil consumer, are close to the highest level in 85 years, according to the Energy Information Administration.

West Texas Intermediate for July delivery was at $59.81 a barrel in electronic trading on the New York Mercantile Exchange, up 9 cents, at 11:32 a.m. Sydney time. The contract declined $1 to $59.72 on Friday. Total volume was about 81 percent below the 100-day average. Prices, little changed in May, have gained 12 percent this year.

There will be no Nymex floor session Monday because of the Memorial Day holiday and transactions will be booked Tuesday for settlement purposes.

Brent for July settlement was 10 cents higher at $65.47 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $5.70 to WTI.

Source: Bloomberg

Gold Drops Toward $1,200 as Interest Rate Outlook Boosts Dollar

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Gold fell, extending the biggest weekly loss since April, as prospects for the first U.S. interest rate rise since 2006 helped to push the dollar to a one-month high. Silver, platinum and palladium declined.

Bullion for immediate delivery lost as much as 0.3 percent to $1,202.95 an ounce and traded at $1,203.45 at 8:54 a.m. in Singapore, Bloomberg generic pricing showed. The metal dropped 1.5 percent last week, the most since the period to April 24.

Federal Reserve Chair Janet Yellen still expects to raise rates this year if the economy meets her forecasts. Inflation is moving toward the Fed’s 2 percent target after a report on Friday showed core consumer prices climbed 0.3 percent in April, the biggest gain in two years. While a pickup in inflation can boost demand for bullion as a hedge, higher borrowing costs cut the allure of the metal, which generally only provides returns through price gains.

The Bloomberg Dollar Spot Index rose as much as 0.2 percent to 1,181.92 on Monday, the highest since April 27. The gauge rallied 2.6 percent last week, the most since September 2011.

Gold for August delivery traded at $1,203.80 an ounce on the Comex in New York from $1,204.90 on Friday. Most-active prices declined 1.7 percent last week. Silver for immediate delivery fell 0.3 percent to $17.0583, dropping for a second day.

Source: Bloomberg

Japan Exports Rise More Than Forecast as Shipments to U.S. Jump

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Japanese exports rose more than forecast in April, providing support for an economy that’s expanded for two straight quarters after a recession in 2014.

The value of overseas shipments rose 8 percent from a year earlier, the Ministry of Finance said on Monday, compared with a median estimate for a 6 percent increase. Imports slid 4.2 percent, leaving a 53.4 billion yen ($440 million) trade deficit. Japan’s exports exceeded imports in March for the first time in almost three years.

Building strength in large exporting companies has been one of the key strengths of Prime Minister Shinzo Abe’s economic policies as the yen’s decline boosts the competitiveness of Japanese products overseas. The International Monetary Fund said on May 22 that weaker-than-expected growth in China and the U.S. could trip Japan’s export-led recovery.

Shipments to the U.S. rose 21 percent, and those to China were up 2.4 percent from a year earlier.

Japan’s economy expanded 0.6 percent from the previous quarter in the three months through March, beating forecasts, with net exports subtracting 0.2 percentage point from growth.

The International Monetary Fund said Japan’s economy will grow about 1 percent in 2015 and 1.25 percent in 2016 due to recovery in exports and stronger domestic consumption in a statement.

Source: Bloomberg

Japanese Stocks Rise After Yen Slides on U.S. Inflation

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Japanese stocks rose for a seventh day after the yen weakened as a report showed U.S. inflation firmed and Federal Reserve Chair Janet Yellen said she expects to raise interest rates this year.

Toyota Motor Corp., which gets more than three-quarters of its sales overseas, was the biggest boost to the Topix index. Tokyo Electric Power Co. jumped 5.1 percent after a report the utility won an order to build a gas-fired power plant and desalination facility in Qatar. Takata Corp. slumped 3.8 percent after carmakers announced additional recalls in Japan and Australia of vehicles with the company’s air bags.

The Topix index added 0.7 percent to 1,658.95 at the break in Tokyo, extending last week’s gain of 2.5 percent. All but five of the measure’s 33 industry groups advanced. The Nikkei 225 Stock Average climbed 0.7 percent to 20,407.02, headed for the highest close since 2000. The yen fell 0.1 percent to 121.67 per dollar after dropping 0.4 percent on Friday.

Source: Bloomberg

Shanghai Composite Rallies to Seven-Year High as Smallcaps Drop

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The Shanghai Composite Index rallied for a fifth day to a seven-year high as investors sought financial companies and other underperformers this year, while rotating out of overvalued, small-company stocks.

The Shanghai Composite climbed 1.5 percent to 4,729.12 at 9:51 a.m. It advanced 8.1 percent last week, the biggest gain since the week ended Dec. 5, amid speculation the government may escalate measures to stimulate the economy. The CSI 300 Index rose 1.4 percent. Hong Kong’s market is closed Monday for a public holiday. The ChiNext slumped 3.3 percent, heading for the biggest drop since April 15.

The China Securities Regulatory Commission will target listed companies’ information disclosure and abnormal trading activities in an effort to clamp down on market manipulation, according to a statement posted on its microblog on Friday.

Source: Bloomberg

Dollar Falls as Weak Economic Data Erode Bets on Fed Rate Hike

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The dollar fell as tepid economic reports damped demand for the currency after minutes from the Federal Reserve’s last policy meeting left bulls with little to cheer.

The U.S. currency snapped three days of gains versus the euro after housing and jobs data missed forecasts. The greenback weakened versus most of its major peers as traders digested minutes released Wednesday that suggest the Fed is unlikely to increase rates in June, while remaining open to tightening later this year.

The dollar weakened 0.2 percent to $1.1118 per euro as of 3:50 p.m. in New York, after touching $1.1062 on Wednesday, its strongest level since April 29.

The U.S. currency fell 0.3 percent to 120.97 yen, halting a five-day gain.

Source: Bloomberg

Gold Futures Fell to One-Week Low as U.S. Jobless Claims Decline

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Gold futures fell to a one-week low after the average number of Americans filing for unemployment benefits in the past four weeks dropped to a 15-year low, reviving concern that interest rates will increase.

The average dropped to 266,250 in the period ended May 16 from 271,750, government figures showed Thursday. On Wednesday, holdings in exchange-traded products backed by gold dropped to the lowest since January, according to data compiled by Bloomberg.

Gold advanced on Wednesday after minutes from the Federal Reserve’s last meeting showed that officials in April didn’t expect to raise their benchmark rate at the next gathering in June. Higher borrowing costs drive investors to favor assets that pay interest, including new bonds, curbing the appeal of the metal, which generally offers returns only through price gains.

Gold futures for June delivery fell 0.4 percent to settle at $1,204.10 an ounce at 2:13 p.m. on the Comex in New York. The price touched $1,200.80, the lowest for a most-active contract since May 13.

Silver futures for July delivery rose 0.1 percent to $17.132 an ounce.

Source: Bloomberg

U.S. Stocks Rise to Records Amid Mixed Data on Economic Growth

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U.S. stocks advanced, with the Standard & Poor’s 500 Index rising to a record, amid better-than-forecast results from Salesforce.com Inc. and Best Buy Co. while gauges on the strength of economic growth were mixed.

The S&P 500 rose 0.2 percent to 2,131.03 at 4 p.m. in New York, its fourth all-time high in the last six sessions.

As Federal Reserve policy makers debate the timing on their first interest rate increase since 2006, the data they’re dependent on for their decision continues to provide mixed signals.

Source: Bloomberg

U.S. Stocks, Treasuries Rise as Data Show Uneven Economic Growth

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U.S. stocks rose to record levels and Treasuries gained a second day as economic data showing uneven growth added to speculation the Federal Reserve won’t rush to raise interest rates. Crude oil rallied.

The Standard & Poor’s 500 Index advanced 0.3 percent to a record at 12:36 a.m. in New York. The Nasdaq Composite Index jumped 0.4 percent to an all-time closing high. The yield on 10-year Treasury notes fell four basis points to 2.21 percent, while the Bloomberg Dollar Spot Index erased losses. The Stoxx Europe 600 Index added 0.4 percent. Oil climbed 3.1 percent.

Purchases of previously owned homes unexpectedly fell in April, a sign the industry’s recovery remains uneven, while U.S. jobless claims over the past four weeks dropped to a 15-year low. Federal Reserve minutes on Wednesday signaled officials are unlikely to raise rates in June, while keeping open the option to tighten this year.

Fed officials last month didn’t expect to raise rates at their June meeting even as they concluded that a first-quarter economic slowdown was unlikely to persist, the minutes showed. Fed Chair Janet Yellen is due to give a speech Friday on the economic outlook.

Source: Bloomberg

Gold Settles Higher, Then Tops $1,210 After Fed Minutes

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Gold futures settled higher on Wednesday, then moved up in electronic trading to top $1,210 an ounce after minutes from the Federal Reserve Open Market Committee’s April meeting showed that only a few officials expect an interest-rate hike in June.

Gold for June delivery GCM5, was at $1,211.10 an ounce in electronic trading on Globex after the minutes, after settling at $1,208.70 an ounce, up $2, or 0.2%, on Comex.

The April minutes of the policy-setting FOMC were released shortly after the close of regular metals trading on Comex. Only a “few” Fed officials thought economic data would improve enough to trigger a rate hike at the next meeting in June.

Higher interest rates can support the dollar, which can be bearish for dollar-denominated gold.

Gold on Monday rose to its highest level in more than three months, but gave back some of those gains to finish Tuesday at its lowest level in a week. The yellow metal has been stuck in trading range between resistance at $1,225 an ounce and support at $1,180.

Dollar Remains Higher as Minutes Show Fed in No Rush to Hike

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The dollar remained higher as minutes from the Federal Reserve’s April meeting suggested the central bank is in no hurry to raise interest rates soon.

The U.S. currency fluctuated after policy makers said last month that they didn’t expect to raise rates at their next meeting in June even while concluding that a first-quarter economic slowdown was unlikely to persist, minutes of the meeting show.

The dollar traded at 121.39 yen as of 2:07 p.m. in New York. The U.S. currency traded at $1.1088 per euro.

Source : Bloomberg

Japan’s Topix Extends 2007 High as Fed Minutes Spur Weaker Yen

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Japanese stocks rose, with the Topix index climbing from a 7 1/2-year high, after the yen slid as investors weighed minutes from the Federal Reserve’s latest meeting.

The Topix advanced 0.3 percent to 1,647.83 as of 9:06 a.m. in Tokyo, after yesterday closing at the highest since October 2007. The Nikkei 225 Stock Average added 0.2 percent to 20,242.96. The yen traded at 121.20 per dollar after touching the weakest level since March 17 on Wednesday. Minutes of the Federal Reserve’s last meeting reinforced that interest rates will likely be boosted in the second half of this year, with officials not expecting to raise borrowing costs in June.

E-mini futures on the Standard & Poor’s 500 Index fell 0.2 percent after the underlying U.S. measure slipped 0.1 percent on Wednesday in New York, dragged lower by a selloff in airlines.

Source: Bloomberg

Asian Stocks Rise After Fed Minutes as Investors Await China PMI

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Asian stocks advanced for the first time in three days as investors weighed the minutes of the Federal Reserve’s last meeting and awaited China manufacturing data.

The MSCI Asia Pacific Index rose 0.1 percent to 153.02 as of 9:02 a.m. in Tokyo. The Fed minutes reinforced the view that interest rates will probably be boosted in the second half of this year. China factory activity may show improvement this month, preliminary estimates from HSBC Holdings Plc and Markit Economics due today are expected to show, according to economists surveyed by Bloomberg.

Japan’s Topix index added 0.3 percent. South Korea’s Kospi index was little changed. Australia’s S&P/ASX 200 Index gained 0.2 percent, while New Zealand’s NZX 50 Index lost 0.2 percent. Markets in China and Hong Kong have yet to open.

China’s CSI 300 Index technology gauge on Wednesday jumped 1.5 percent to a record on a Xinhua News Agency report that the government will boost incentives for industries including information technology and robotics.

E-mini futures on the Standard & Poor’s 500 Index fell 0.2 percent. The underlying gauge lost 0.1 percent on Wednesday amid a selloff in airlines.

Source: Bloomberg

U.S. Stocks Little Changed Amid Airline Selloff, Fed Patience

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U.S. stocks closed little changed, with the Standard & Poor’s 500 Index slipping for a second day, as a selloff in airlines offset Federal Reserve meeting minutes that showed officials in no hurry to raise interest rates.

The S&P 500 Index fell 0.1 percent to 2,125.80 at 4 p.m. in New York, after briefly climbing above its all-time high.

Fed officials last month didn’t expect to raise rates at their June meeting even as they concluded that a first-quarter economic slowdown was unlikely to persist, the meeting minutes showed. A “few” members said they anticipated the economy would be ready for a June liftoff.

Source: Bloomberg

Gold Fell Most This Month as Housing Data Boosts Rate Concerns

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Gold fell the most since April on speculation that an improving U.S. housing market will boost the case for the Federal Reserve to raise U.S. interest rates.

U.S. housing starts jumped to a seven-year high last month, government data showed Tuesday. The rise extended gains in the dollar, curbing bullion’s appeal as an alternative asset, after the European Central Bank said it will speed up bond buying. Gold has posted three straight monthly losses as the outlook for higher borrowing costs prompts investors to favor assets with better yield prospects, such as equities.

The metal dropped from a three-month high, with the rebound in housing signaling the economy may be strong enough for the Fed to start tightening this year. Minutes from the central bank’s latest meeting will be released Wednesday. Holdings in exchange-traded products backed by gold fell to the lowest since mid-January, data compiled by Bloomberg showed.

Gold futures for June delivery fell 1.7 percent to settle at $1,206.70 an ounce at 1:43 p.m. on the Comex in New York, the biggest drop for a most-active contract since April 30. On Monday, the precious metal climbed to $1,232, the highest since Feb. 17.

Source: Bloomberg

Euro Drops After ECB Official Pledges to Speed Up Bond Purchases

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The euro tumbled the most in two months after a European Central Bank official said policy makers plan to boost bond purchases before an anticipated mid-year lull.

The single currency slumped after Executive Board member Benoit Coeure said the ECB will increase purchases under its quantitative-easing program from 60 billion euros ($67 billion) in May and June, ahead of a drop-off in market liquidity. The euro extended losses versus the dollar after a report showed residential construction in the U.S. surged in April to the highest in more than seven years, supporting the Federal Reserve’s move toward raising interest rates.

The euro dropped 1.6 percent to $1.1138 as of 1:03 p.m. in New York, the most since March 19. It slipped 1 percent to 134.36 yen. The dollar rose 0.5 percent to 120.64 yen.

Source: Bloomberg

Japan Economy Grows More Than Forecast as Business Spends More

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Japan’s economy expanded for a second straight quarter, beating forecasts as businesses increased spending and boosted inventories.

Gross domestic product grew at an annualized 2.4 percent in the three months through March from the previous quarter, when it increased by 1.1 percent, the Cabinet Office said on Wednesday. The median estimate of 28 economists surveyed by Bloomberg was for a gain of 1.6 percent.

Capital investment gained 0.4 percent from the previous three months, rising for the first time in four quarters, today’s data showed. From the previous quarter, private consumption rose 0.4 percent, the same pace as in the final three months of 2014.

Inventory buildup added 0.5 percentage point to non-annualized growth in the first quarter, the data showed.

Source: Bloomberg

U.S. Stocks Close Little Changed From Records After Housing Data

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U.S. stocks closed little changed, with the Standard & Poor’s 500 Index slipping from a record, after data showing housing starts surged to a seven-year high bolstered speculation the Federal Reserve may raise interest rates this year.

The Standard & Poor’s 500 Index declined 0.1 percent to 2,127.87 at 4 p.m. in New York, snapping a three-session string of all-time highs. The Dow Jones Industrial Average rose 0.1 percent to a record for a second day. The Nasdaq Composite Index lost 0.2 percent.

A report today showed new residential construction surged in April to the highest level since November 2007, while more permits, a proxy for future construction, were issued than at any time since June 2008.

Source : Bloomberg

U.S. Stocks Fluctuate Amid All-Time Highs After Housing Data

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U.S. stocks fluctuated, with benchmark indexes near records, after data showing housing starts surged to a seven-year high bolstered speculation the Federal Reserve may raise interest rates this year.

Wal-Mart Stores Inc. slumped 4 percent after quarterly results missed estimates, while Urban Outfitters Inc. tumbled 17 percent after profit and sales were short of analysts’ projections. Energy shares slid with oil prices. Banks extended Monday’s gains amid rising bond yields. Take-Two Interactive Software Inc. jumped 15 percent after its results beat forecasts.

The Standard & Poor’s 500 Index rose less than 0.1 percent to 2,129.62 at 1:07 p.m. in New York, after the gauge Monday reached an all-time high for a third straight session. The Dow Jones Industrial Average gained 17.82 points, or 0.1 percent, to 18,316.70 after also closing at a record. The Nasdaq Composite Index slipped 0.1 percent.

A report today showed new residential construction surged in April to the highest level since November 2007, while more permits, a proxy for future construction, were issued than at any time since June 2008.

Source : Bloomberg

Oil Trades Near $60 as U.S. Supplies Seen Falling Third Week

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Oil traded near $60 a barrel before U.S. government data forecast to show crude stockpiles declined for a third week.

Futures were little changed in New York after slipping 0.4 percent on Monday. Crude inventories probably shrank by 2 million barrels through May 15, according to a Bloomberg survey before an Energy Information Administration report Wednesday. OPEC’s current output target of 30 million barrels a day is right, Iran’s Deputy Oil Minister Roknoddin Javadi said.

West Texas Intermediate for June delivery, which expires Tuesday, rose 8 cents to $59.51 a barrel in electronic trading on the New York Mercantile Exchange at 9:58 a.m. Sydney time. The contract fell 26 cents to $59.43 on Monday. The volume of all futures traded was about 75 percent below the 100-day average. The more-active July future climbed 3 cents to $60.27.

Brent for July settlement dropped 54 cents, or 0.8 percent, to $66.27 a barrel on the London-based ICE Futures Europe exchange on Monday. The European benchmark crude ended the session at a premium of $6.03 to WTI for the same month.

Source: Bloomberg

Euro Holds Losses on Concern Greek Bailout Deal Remains Elusive

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The euro held losses against the majority of its peers on concern Greek banks will be pushed toward insolvency if the government fails to reach an agreement with creditors.

The 19-nation currency had its biggest drop in two months on Monday as the standoff between Greece and its lenders triggered an unprecedented liquidity squeeze, renewing doubts about the country’s place in the euro area. The euro rallied 4.6 percent in April, snapping nine months of declines, on signs Europe’s economy is improving in response to quantitative easing.

The euro was little changed at $1.1325 at 9:15 a.m. in Tokyo compared with Monday, when it plunged 1.2 percent, the biggest decline since March 19. The currency fetched 135.82 yen, after sliding 0.6 percent to 135.75 on Monday.

The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, slipped 0.1 percent to 1,158.93. It rose 0.9 percent on Monday from a four-month low on speculation that the U.S. economy will rebound from a sluggish first quarter.

Source: Bloomberg

Most Asia Stocks Rise After U.S. Shares Hit Records, Yen Weakens

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Most Asian stocks rose after U.S. equity gauges climbed to fresh records and the yen weakened, boosting Japanese shares.

About three stocks rose for every two that fell on the MSCI Asia Pacific Index, which traded little changed at 153.39 as of 9:03 a.m. in Tokyo. Japan’s Topix index added 0.2 percent after the yen fell 0.6 percent against the dollar on Monday. The Standard & Poor’s 500 Index rose 0.3 percent and the Dow Jones Industrial Average climbed 0.1 percent, both closing at all-time highs. Investors are awaiting this week’s U.S. housing data for clues as to whether the recovery in the world’s largest economy can withstand higher interest rates.

Australia’s S&P/ASX 200 Index rose 0.1 percent and South Korea’s Kospi index was little changed. New Zealand’s NZX 50 Index slipped less than 0.1 percent.

E-mini futures on the S&P 500 were little changed today.

Source: Bloomberg

Japan’s Topix Heads for Seven-Year High as Yen Boosts Exporters

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Japanese stocks rose, with the Topix index trading near its highest level since 2007, as a weaker yen boosted exporters.

The Topix climbed 0.2 percent to 1,630.36 as of 9:02 a.m. in Tokyo, gaining for a third day and headed for the highest close since November 2007. The Nikkei 225 Stock Average advanced 0.5 percent to 19,981. The yen traded at 119.93 per dollar after weakening the most in more than two weeks on speculation the U.S. economy will rebound from a sluggish first quarter.

The dollar rallied before the release of U.S. housing and manufacturing data this week, as well as minutes from the Federal Reserve’s April meeting, which may provide clues on when the central bank may increase interest rates.

E-mini futures on the Standard & Poor’s 500 Index were little changed after the underlying U.S. measure gained 0.3 percent to close at a record on Monday in New York.

Source: Bloomberg

Rally in Apple, Bank Shares Sends U.S. Stocks to All-Time Highs

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U.S. stocks rose to all-time highs as Apple Inc. climbed on comments from Carl Icahn and banks rallied amid higher bond yields.

The Standard & Poor’s 500 Index climbed 0.3 percent to 2,129.01 at 4 p.m. in New York, closing at a record for the third consecutive session. The Dow Jones Industrial Average added 0.1 percent to also close at an all-time high, its first since March 2.

The back-to-back weekly advance halted a string of five up-and-down periods for the S&P 500, as multinational companies rallied amid a weaker dollar and mixed economic data boosted speculation the Federal Reserve won’t rush to raise interest rates. With a selloff in global bond markets subsiding last week, a measure of U.S. stock volatility posted its longest streak of losses in three weeks and closed near this year’s low.

Source : Bloomberg

Oil Holds Below $60 a Barrel as Pace of U.S. Drilling Cuts Slows

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Oil held below $60 a barrel as U.S. companies reduced the number of active rigs at the slowest pace since a prolonged retreat in drilling began in December.

Futures were little changed in New York after falling 0.3 percent on Friday, capping a three-day drop. The rig count slipped by eight to 660, the smallest cut in 23 weeks of declines, according to Baker Hughes Inc. Demand for OPEC’s crude will rise as current prices hinder shale output expansions, according to Qatar Petroleum International’s Chief Executive Officer.

Oil’s recovery from a six-year low is stalling near $60 a barrel amid speculation rising prices will encourage production and sustain a supply glut. U.S. crude inventories are more than 100 million barrels above the five-year average for this time of year, according to government data.

West Texas Intermediate for June delivery, which expires Tuesday, rose 12 cents to $59.81 a barrel in electronic trading on the New York Mercantile Exchange at 10:27 a.m. Sydney time. The contract slid 19 cents to $59.69 on Friday. The volume of all futures traded was about 66 percent below the 100-day average. The more-active July futures were 10 cents higher at $60.64.

Brent for July settlement gained 5 cents to $66.86 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $6.23 to WTI for the same month.

Source: Bloomberg

Dollar Drops to Four-Month Low as Downbeat Outlook Halts Climb

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The mighty dollar isn’t getting any help from U.S. consumers.

The currency erased gains after consumer confidence unexpectedly fell by the most in more than two years, reflecting Americans’ dim economic outlook. The greenback extended a weekly decline after a duo of manufacturing indicators missed expectations, scuppering an earlier rally.

The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, was down 0.1 percent at 1,149.80 at 3:14 p.m. New York time, deepening its decline to 1.2 percent in the past week. The index fell as low as 1,149.06 Friday, the lowest level since Jan. 21.

The greenback is poised to fall for the fifth week as tepid U.S. indicators contrast with those in Europe showing stronger growth and stabilizing inflation. The selloff is the longest since Oct. 4, 2013, during a stalemate between congressional Republicans and Democrats over raising the federal debt ceiling.

The dollar fell 0.4 percent to $1.1455 against the euro. It climbed 0.1 percent to 119.33 yen.

Source: Bloomberg

China’s Stock-Index Futures Decline as Share Sales Lock Up Funds

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China’s stock-index futures fell amid concern new share sales will lure funds from existing equities.

Futures on the CSI 300 Index expiring in June, the most active contract, lost 1.5 percent to 4,550.80 as of 9:26 a.m. local time. Twenty companies are scheduled to sell initial public offering shares from Tuesday to Thursday, which may freeze 2.8 trillion yuan ($451.1 billion) based on the median estimate of a Bloomberg survey.

The Shanghai Composite Index dropped 1.6 percent on Friday, while the CSI 300 declined 1.8 percent. Hong Kong’s Hang Seng China Enterprises Index advanced 1.7 percent and the Hang Seng Index gained 2 percent. The Bloomberg China-US Equity Index added 0.6 percent in New York.

The Shanghai Composite has rallied 113 percent over the past year amid speculation the government will extend interest-rate cuts and speed up mergers of state-owned firms. It is valued at 16.6 times 12-month projected earnings, compared with the five-year average multiple of 10.2, according to data compiled by Bloomberg.

Source: Bloomberg

Asian Stocks Track U.S. Share Gains as Weak Data Spur Fed Bets

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Asian stocks rose for a second day, following gains in U.S. shares as weaker-than-expected economic data spurred bets the Federal Reserve won’t rush to raise interest rates.

The MSCI Asia Pacific Index added 0.1 percent to 153.37 as of 9:06 a.m. in Tokyo after rising 1.4 percent last week. The Standard & Poor’s 500 Index extended a record Friday after data showed an unexpected drop in consumer confidence. Equities rose last week after selling that erased $400 billion from fixed-income markets subsided.

Japan’s Topix index added 0.5 percent. Mitsubishi UFJ Financial Group Inc. plans to buy back more shares and Mizuho Financial Group Inc. is raising its dividend as the nation’s largest lenders increase shareholder returns amid higher profits. Mitsubishi UFJ climbed 1.8 percent and Mizuho rose 1.9 percent.

Australia’s S&P/ASX 200 Index declined 0.2 percent. South Korea’s Kospi index was little changed. New Zealand’s NZX 50 Index gained 0.2 percent.

Source: Bloomberg

Japanese Stocks Advance as Investors Weigh Yen, Fed Rate Outlook

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Japanese stocks rose as investors weighed a strengthening yen against a potential delay in any U.S. interest-rate increase.

The Topix index climbed 0.3 percent to 1,612.07 as of 9:01 a.m. in Tokyo, after gaining 1.2 percent last week. The Nikkei 225 Stock Average advanced 0.1 percent to 19,748.08. The yen traded at 119.35 per dollar after last week strengthening by the most in a month as weaker-than-expected U.S. economic data, including a consumer confidence report on Friday, pushed the greenback lower.

A government report today showed Japanese machine orders rose 2.6 percent in March from a year earlier, beating estimates by economists for a decline of 6 percent.

E-mini futures on the Standard & Poor’s 500 Index slipped 0.1 percent after the underlying U.S. measure gained 0.1 percent to close at a record on Friday in New York.

Source: Bloomberg

Dollar Set for Longest Slump Since 2013 as Data Dim Rate Outlook

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A gauge of the dollar is set for a fifth week of declines, its longest slump since 2013, as weak U.S. economic data fueled speculation the Federal Reserve will delay raising interest rates.

The greenback is the worst performer this week among 10 developed-nation peers after U.S. data showed producer prices unexpectedly fell while retail sales were little changed in April. The fewest claims for jobless benefits in 15 years signaled the labor market continues to strengthen even as the world’s largest economy struggles to regain momentum.

The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, was little changed at 1,150.89 at 9:08 a.m. in Tokyo. It closed at 1,150.80 on Thursday, the lowest since Jan. 21. It has dropped 4.4 percent in the past five weeks, the longest slump since October 2013.

The greenback was at 119.21 yen from 119.18, set for a 0.5 percent weekly loss. It climbed 0.1 percent to $1.1399 versus the euro, paring its loss since May 8 to 1.8 percent.

The dollar has dropped 1.2 percent this week, the most among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes.

Source : Bloomberg

Gold Futures Rise to 12-Week High as Dollar Drops; Silver Gains

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Gold and silver futures rose to the highest since February as the dollar’s decline boosted demand for the precious metals as alternative investments.

The greenback slumped against a basket of 10 currencies to the lowest since January after a government report showed Wednesday that U.S. retail sales stalled in April, damping prospects for an increase in interest rates by the Federal Reserve. On Thursday, gold climbed for the third straight day, the longest rally in seven weeks.

Higher rates curb gold’s appeal because the metal generally offers returns only through price gains, while a weaker dollar can increase demand for the metal as a store of value. U.S. economic indicators have missed expectations since January, according to an index compiled by Citigroup Inc., suggesting policy makers aren’t close to raising their benchmark.

On the Comex in New York, gold futures for June delivery rose 0.6 percent to $1,225.70 an ounce at 10:17 a.m. Earlier, the price reached $1,227.70, the highest for a most-active contract since Feb. 17. The metal topped the 200-day moving average for the first time since February.

Most economists in a Bloomberg survey late last month predicted the central bank will start tightening in September, rather than at next month’s meeting. The Fed has held rates near zero since 2008.

Source: Bloomberg

Asian Stocks Track Record-Setting S&P 500 Higher as Bonds Climb

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Asian stocks rose, set for their first weekly gain this month, after the dollar’s retreat helped send the Standard & Poor’s 500 Index to a fresh record. Bonds tracked gains in the U.S. and Europe, while oil pared its advance.

The MSCI Asia Pacific Index added 0.4 percent by 9:20 a.m. in Tokyo, as benchmark gauges from Japan to Australia climbed. S&P 500 futures were little changed after technology shares drove the index up 1.1 percent to an all-time high. The Bloomberg Dollar Spot Index was near a four-month low. Yields on 10-year Japanese notes fell for the first time in four days as similar maturity Treasuries held onto their rebound.

Bond markets took a breather from the selloff that has erased more than $400 billion in value the past three weeks, unsettling equities. Prospects the weaker dollar will make American products more competitive helped stoke the S&P 500’s first increase this week, with disappointing economic data damping the outlook for higher U.S. interest rates.

Source : Bloomberg

Japan Stocks Follow U.S. Shares Higher as Consumer Lenders Rise

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Japanese stocks rose, with the Topix index extending its weekly advance, after U.S. shares climbed to records. Consumer lenders and banks gained.

The Topix added 0.6 percent to 1,601.27 as of 9:01 a.m. in Tokyo, poised for a 0.9 percent increase this week. The Nikkei 225 Stock Average climbed 0.6 percent to 19,688.60.

The Standard & Poor’s 500 Index closed at an all-time high Thursday as a weaker dollar boosted multinational companies. Treasuries advanced after a measure of inflation unexpectedly declined, calling into question how soon the Federal Reserve will be able to raise interest rates.

Source : Bloomberg

U.S. Stocks Rise as Dollar Extends Slide, Bond Selloff Eases

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U.S. stocks rose for the first time this week as the dollar weakened to a four-month low and a bond-market selloff showed signs of easing. Treasuries gained before a sale of 30-year bonds.

The Standard & Poor’s 500 Index increased 0.5 percent at 9:31 a.m. in New York, halting a three-day slide. The Stoxx Europe 600 Index gained 0.3 percent. The Bloomberg Dollar Spot Index retreated 0.5 percent. The yield on 10-year Treasuries fell four basis points to 2.25 percent while German bunds swung between gains and losses.

The dollar is heading for a fifth weekly decline, the longest streak since October 2013, as economic data undermine prospects for higher borrowing costs any time soon. Fewer Americans than forecast filed for unemployment benefits last week while wholesale prices unexpectedly declined in April, after data Wednesday indicated retail sales stagnated.

Source: Bloomberg

Gold Holds Above $1,200 as U.S. Retail Sales Cloud Rates Outlook

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Gold held near a five-week high amid speculation that the Federal Reserve will push back a decision to raise interest rates after data showed U.S. retail sales were little changed last month.

Bullion for immediate delivery traded at $1,214.46 an ounce at 9:08 a.m. in Singapore from $1,215.75 on Wednesday, when the metal surged to $1,218.99, the highest since April 7, according to Bloomberg generic pricing. Gold in Shanghai jumped.

Gold has risen in May as the dollar fell on speculation the Fed isn’t getting any closer to raising borrowing costs for the first time since 2006. Retail sales barely budged in April, missing projections for a small gain. A liftoff in rates seems most probable in the late summer, according to David Altig, research head at the Fed Reserve Bank of Atlanta, who said it would be better for the bank to err on the side of waiting too long to raise rather than to tighten too soon.

Source : Bloomberg

old Rises to Five-Week High With Silver as Retail Sales Sputter

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Gold and silver futures jumped to five-week highs as stalling U.S. retail sales revived speculation that a sputtering economy will spur the Federal Reserve to delay raising interest rates.

Gold futures for June delivery rose 2.2 percent to settle at $1,218.20 an ounce at 2:02 p.m. on the Comex in New York. Earlier, the price reached $1,218.50, the highest for a most-active contract since April 6. The dollar dropped to a 15-week low against a basket of 10 currencies.

The metal climbed this week as rising energy costs stoked inflation concerns. Crude-oil futures in New York have jumped 44 percent from a six-year low in March. Gold has traditionally been used as a hedge against accelerating consumer prices.

Source: Bloomberg

China Stock-Index Futures Are Little Changed After Loan Data

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Chinese stock-index futures were little changed as investors weighed the prospect of more policy easing after monetary data missed economists’ estimates.

CSI 300 Index futures for May increased 0.1 percent to 4,680.60 at 9:18 a.m. in Shanghai. Property developers may be active after China’s new home sales jumped 16 percent last month. Tencent Holdings Ltd. may advance in Hong Kong after reporting a record profit in the first quarter.

The CSI 300 Index slid 0.6 percent. Hong Kong’s Hang Seng China Enterprises Index fell 0.8 percent, while the Hang Seng Index lost 0.6 percent. The ChiNext index of smaller companies declined 1.8 percent from a record on Tuesday. The Bloomberg China-US Equity Index increased 0.2 percent on Wednesday.

Source : Bloomberg