Stock Market Today: Dow, S&P Live Updates for Jul. 7, 2021 - Bloomberg

unitedstatepolitics.blogspot.com

Asian stocks fell Wednesday and Treasuries held an advance as concern over the economic recovery from the pandemic, virus variants and China’s scrutiny of the technology sector sapped sentiment.

Equities fell in Hong Kong, Japan and China but Australia rose despite an extension of Sydney’s lockdown. U.S. contracts fluctuated after the S&P 500 dipped, led by energy and financials, and the Nasdaq 100 reached a record. Ten-year U.S. Treasury yields hit February lows overnight amid slower-than-expected service-sector expansion. Australian and New Zealand sovereign bonds rallied.

China’s cybersecurity probe into ride-hailing giant Didi Global Inc. sparked a 20% plunge in its shares. The nation issued a sweeping warning to its biggest firms, vowing to tighten oversight of data security and overseas listings, signaling a broader crackdown on the corporate sector.

Oil dropped toward $73 a barrel. The fallout of an OPEC+ crisis that stymied efforts to raise production has buffeted prices this week.

While global stocks remain near all-time highs, inflationary pressures, reduced central bank stimulus and the spread of the Covid-19 delta strain are potential risks. Traders are looking ahead to the Federal Reserve minutes Wednesday for more clues on when the U.S. central bank may begin tapering the substantial asset purchases that have bolstered financial markets.

“There are still concerns about what happens with the Fed tapering and there’s lack of traction on the fiscal stimulus side,” said Keith Lerner, chief market strategist at Truist Advisory Services. “Those uncertainties are just injecting some volatility and then you throw in concerns about peak economic growth. That just feeds into the concerns about -- is the best growth behind us?”

The spotlight is also on vaccine campaigns and whether they will obviate virus-related curbs. In the U.K., the government is lifting restrictions but officials have warned pandemic measures may need to be reimposed if infections surge.

For more market commentary, follow the MLIV blog.

Defiance ETFs CIO Sylvia Jablonski says “don’t count anything out” because a diversified portfolio is worth having in this market environment.

Source: Bloomberg

Here are some events to watch this week:

• FOMC minutes Wednesday
• The Group of 20 finance ministers and central bankers meet in Venice on Friday
• China PPI and CPI data released on Friday

These are some of the main moves in markets:

Stocks

• S&p 500 futures were little changed as of 10:43 a.m. in Tokyo. The S&P 500 fell 0.2%
• Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 0.4%
• Japan’s Topix index slid 0.5%
• Australia’s S&P/ASX 200 index added 0.6%
• South Korea’s Kospi index shed 0.6%
• China’s Shanghai Composite index lost 0.3%
• Hong Kong’s Hang Seng index fell 0.9%

Currencies

• The Japanese yen traded at 110.44 per dollar, up 0.2%
• The offshore yuan was at 6.4789 per dollar
• The Bloomberg Dollar Spot Index was steady after rising 0.4%
• The euro traded at $1.1821

Bonds

• The yield on 10-year Treasuries held at about 1.35%
• Australia’s 10-year bond yield slid 10 basis points to 1.37%

Commodities

• West Texas Intermediate crude was at $73.37 a barrel
• Gold was at $1,800.42 an ounce, up 0.2%

— With assistance by Claire Ballentine, and Lu Wang

Adblock test (Why?)

"Market" - Google News
July 07, 2021 at 05:05AM
https://ift.tt/3xqAgkT

Stock Market Today: Dow, S&P Live Updates for Jul. 7, 2021 - Bloomberg
"Market" - Google News
https://ift.tt/2Yge9gs
https://ift.tt/2Wls1p6