Asia Stocks Set to Gain; U.S. Yields Eye 3% Again: Markets Wrap

Futures tipped Asian stocks to open higher, with strong Alphabet Inc. sales potentially boosting technology shares and rising yields boosting financials. Ten-year Treasuries slipped, pushing yields to the highest in more than a month.

Equity index futures rose in Japan, Australia and Hong Kong. Even so, gains may be kept in check as U.S. futures opened lower in Asia. The S&P 500 Index started the week higher, with financials leading the gainers amid below-average trading volume. pulled consumer discretionary stocks lower after President Donald Trump renewed his public campaign against Jeff Bezos’s Washington Post. Alphabet shares were 3.7 percent higher in after-market trading.

Investors remain skittish after the world’s finance chiefs over the weekend said that while global growth remains robust and many emerging-market countries are better prepared to face crises, risks to the world economy have increased. There are now also concerns that a trade war may spill into currency markets after U.S. President Donald Trump took issue with a slide in the Chinese yuan. The heated rhetoric is offsetting a mixed earnings season just as the summer lull is keeping trading volumes thin.

Elsewhere, West Texas crude see-sawed as Trump’s warnings to his Iranian counterpart were offset by a strengthening dollar. Emerging-market stocks were little changed. Bitcoin pushed higher.

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Here are some key events coming up this week:

  • Earnings season continues with the following tech companies among those reporting: Facebook, AT&T,, Twitter, Advanced Micro Devices, Qualcomm and Intel. They are joined by global financial giants Deutsche Bank, UBS, Nomura and Visa. Others include Halliburton, Michelin, Boeing, Lockheed, Nissan and Shell.
  • Pakistan holds national elections Wednesday.
  • European Central Bank’s policy decision Thursday.
  • U.S. gross domestic product probably increased by about 4 percent at an annualized rate in the second quarter, the most since 2014, economists forecast ahead of Friday’s data.

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These are the main moves in markets:


  • Futures on the Nikkei 225 Stock Average gained 0.2 percent in Singapore.
  • Futures on Australia’s S&P/ASX 200 Index climbed 0.3 percent.
  • Hong Kong’s Hang Seng Index futures rose 0.2 percent.
  • S&P 500 Index futures were little changed as of 7:09 a.m. in Tokyo. The underlying measure closed 0.2 percent higher on Monday. Nasdaq 100 Index futures dipped.


  • The Japanese yen was little changed at 111.32 per dollar.
  • The offshore yuan fell 0.1 percent to 6.8149 per dollar.
  • The euro traded at $1.1693.
  • Bloomberg Dollar Spot Index advanced 0.1 percent.


  • The yield on 10-year Treasuries gained six basis points Monday, to 2.96 percent, the highest in more than a month.


  • West Texas Intermediate crude was little changed at $67.85 a barrel after falling 0.5 percent.
  • Gold was steady at $1,224.97 an ounce after dropping 0.4 percent.

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