GLOBAL MARKETS-Asian markets point to mixed open as investors await U.S. presidential debate

GLOBAL MARKETS-Asian markets point to mixed open as investors await U.S. presidential debate

Reuters  | Sep 30, 2020 07:30

GLOBAL MARKETS-Asian markets point to mixed open as investors await U.S. presidential debate

By Pete Schroeder
Sept 30 (Reuters) - Asian shares were poised for a mixed
opening ahead of the first U.S. presidential debate and ongoing
stimulus talks in Washington.
Australian S&P/ASX 200 futures YAPcm1 were down 0.94% in
early trading, while Japan's Nikkei 225 futures NKc1 were up
0.02%. Hong Kong's Hang Seng index futures .HSI .HSIc1 were
up 0.72%.
E-mini futures for the S&P 500 EScv1 were up 0.04%.
The first debate between former Vice President Joe Biden and
President Donald Trump, set to begin at 9 p.m. EDT (0100 GMT),
is seen by some political analysts as Trump's best chance to
upend a race where he has consistently lagged in opinion polls.
"Following the exuberant start to the week, a sober tone
descended on risk markets ahead of the first U.S. presidential
debate, with caution about the outlook prevailing," wrote
Australia and New Zealand Banking Group in an analyst note.
Also looming over markets is lingering hopes the U.S. could
adopt further economic stimulus. U.S. House of Representatives
Speaker Nancy Pelosi unveiled a new, $2.2 trillion compromise
relief bill in a bid to give new life to flagging negotiations
with the White House. There were optimistic signs Tuesday when U.S. consumer
confidence saw its biggest rebound in 17 years.
The economic impact of the coronavirus pandemic was
underlined later Tuesday, when Disney DIS.N announced plans to
lay off roughly 28,000 U.S. employees from its theme parks
division. Investors will also be looking at Wednesday's ADP National
Employment report, a precursor to official U.S. employment
figures out Friday. China is also set to publish fresh
manufacturing data.
The Asian markets opened after U.S. equities fell slightly
hours before, ending a three-day rally as investors held tight
before the debate. The Dow Jones Industrial Average .DJI fell
0.48%, the S&P 500 .SPX lost 0.48%, and the Nasdaq Composite
.IXIC dropped 0.29%. MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.24% following broad declines in Europe and Asia. U.S. Treasury
yields traded within a tight range as investors avoided large
moves, settling down slightly. The U.S. dollar was also down slightly in advance of the
debate, hitting one-week lows against the euro and Swiss franc.
The dollar index fell 0.3% =USD . Spot gold XAU= gained 0.9% to $1,896.96 per ounce, while
U.S. gold futures GCv1 settled up 1.1% at $1,903.20.
Oil prices were also down on caution ahead of the debate and
looming coronavirus concerns. U.S. crude CLc1 fell 4.01% to
$38.97 per barrel and Brent LCOc1 was at $40.83, down 3.77% on
the day. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Global assets
Global currencies vs. dollar
Emerging markets
MSCI All Country Wolrd Index Market Cap

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