GLOBAL MARKETS-Stocks rise on trade truce bets; lira shaken by Turkey move on Syria

GLOBAL MARKETS-Stocks rise on trade truce bets; lira shaken by Turkey move on Syria

Reuters  | Oct 09, 2019 15:11

GLOBAL MARKETS-Stocks rise on trade truce bets; lira shaken by Turkey move on Syria

* Turkish lira touches near four-month low versus USD

* Oil pares gains but still higher in post-settle trade (Updates prices, changes comments)

By Rodrigo Campos

NEW YORK, Oct 9 (Reuters) - Stocks gained on Wednesday on a report that China could yet agree to a partial trade deal with the United States despite recent tensions, while the prospect of a last-minute Brexit agreement between the European Union and Britain seemed as remote as ever.

Sterling was little changed against the dollar after losing nearly 1% over the past two sessions.

China is still open to agreeing to a partial trade deal, Bloomberg reported on Wednesday, despite the recent U.S. blacklisting of Chinese technology firms and reports on visa restrictions from both sides. don't want to ignore headlines, but at the same time each headline seems to say the same thing - that both sides want to see something happen and both sides are encouraged that something may happen," said Michael Lorizio, senior fixed income trader at Manulife Investment Management in Boston.

Markets have been wobbly this month on more evidence that the U.S.-China conflict over trade is increasingly damaging the global economy. Stocks have been particularly sensitive to headlines regarding trade.

"Investors are hoping for an interim deal, they aren't expecting anything big, but are cautiously optimistic," said Michael Geraghty, equity strategist at Cornerstone Capital Group.

On Wall Street, the Dow Jones Industrial Average .DJI rose 208.58 points, or 0.8%, to 26,372.62, the S&P 500 .SPX gained 29.3 points, or 1.01%, to 2,922.36 and the Nasdaq Composite .IXIC added 89.72 points, or 1.15%, to 7,913.49. pan-European STOXX 600 index .STOXX rose 0.42% and MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.60%. market stocks lost 0.03%, while Nikkei futures NKc1 rose 1.2%.


Talks between the European Union and Britain over an agreement regarding London's departure from the EU on Oct. 31 appeared to be going nowhere. lawmakers have voted to force Prime Minister Boris Johnson to seek an extension to the departure date if he cannot agree a deal, but the prospect of further prolonged political uncertainty is worrying investors.

Sterling GBP= was recently at $1.2213, down 0.03% on the day after falling 0.93% over the two previous sessions.

The dollar index .DXY fell 0.02%, with the euro EUR= up 0.16% to $1.0972. Japanese yen weakened 0.39% versus the greenback at 107.52 per dollar.

The Turkish lira touched a near four-month low versus the dollar after Ankara launched a military operation against Kurdish fighters in northeast Syria just days after U.S. troops pulled back from the area. Turkish currency lost 0.47% versus the dollar at 5.86.

In bond markets, U.S. Treasury yields US10YT=RR rose as investors happy to take on some more risk sold out of safer assets. A flood of supply also weighed on U.S. bond prices.

Benchmark 10-year notes US10YT=RR last fell 11/32 in price to yield 1.5768%, from 1.539% late on Tuesday. bonds tumbled as protesters began a national strike after President Lenin Moreno refused to step down or overturn anti-austerity measures that have triggered the worst unrest in a decade. prices edged higher as Turkey's attack on Syria and hopes of trade talks progress were partly offset by a build in U.S. crude inventories. crude CLc1 rose 0.23% to $52.75 per barrel and Brent LCOc1 was last at $58.44, up 0.34% on the day.

Spot gold XAU= added 0.2% to $1,507.60 an ounce. U.S. gold futures GCc1 gained 0.61% to $1,513.40 an ounce. Global currencies vs. dollar Emerging markets in 2019


Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
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 (Australia) English (South Africa) English (Philippines) 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 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes