GLOBAL MARKETS-Equities reverse after hitting five-month peak, bonds edge higher

GLOBAL MARKETS-Equities reverse after hitting five-month peak, bonds edge higher

Reuters  | Jul 14, 2020 04:30

GLOBAL MARKETS-Equities reverse after hitting five-month peak, bonds edge higher

(Updates through close of U.S. trading)
By David Randall
NEW YORK, July 13 (Reuters) - World equity benchmarks
reversed course after hitting a five-month peak on Monday while
safe-haven U.S. government bonds and gold gained, as optimism
about a global economic recovery was overtaken by renewed fears
amid record numbers of new coronavirus cases in the U.S.
MSCI's gauge of stocks across the globe .MIWD00000PUS
briefly touched its highest level since February before ending
down 0.29%.
On Wall Street, the Dow Jones Industrial Average .DJI rose
10.5 points, or 0.04%, to 26,085.8, the S&P 500 .SPX lost
29.82 points, or 0.94%, to 3,155.22, and the Nasdaq Composite
.IXIC dropped 226.60 points, or 2.13%, to 10,390.84.
"Equity indices are clearly trying to look through into Q3
and beyond, but with the U.S. struggling to shake off the
coronavirus phase one, this should be factored into equity risk
premia," Raymond James European strategist Chris Bailey said.
Losses accelerated in U.S. afternoon trading after
California ordered new lockdown measures, including shutting
bars and banning indoor dining at restaurants statewide to
combat the surge in infections School districts in
Los Angeles and San Diego announced they will offer online-only
instruction in the fall.
The stock market reversal helped the dollar pare losses,
finishing down less than 0.1% against a basket of major
currencies. The euro, meanwhile, rose 0.5% to $1.135 to maintain
its slow uptrend since late last month. Looming large for the
common currency was a planned EU summit on July 17-18, where
leaders need to bridge gaps on long-term budget and economic
stimulus plans. FRX/
"If an agreement weren't to be reached there, then they
still expect one within weeks. It's worth remembering that there
are a number of complex issues to be worked out," Deutsche Bank
strategist Jim Reid said.
Investors continued to seek the perceived safety of
government bonds. Benchmark 10-year notes US10YT=RR last rose
3/32 in price to yield 0.6234%, down from 0.633% late on Friday.
Super-low rates have been a boon for non-yielding gold,
which hovered near nine-year highs after five straight weeks of
gains. Spot gold XAU= added 0.2% to $1,802.45 an ounce. U.S.
gold futures GCc1 gained 0.38% to $1,811.00 an ounce.
U.S. crude CLc1 recently fell 2.32% to $39.61 per barrel
and Brent LCOc1 was at $42.28, down 2.22% on the day

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Cap http://tmsnrt.rs/2EmTD6j
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+

Download the Investing.com App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.

Investing.com is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.