MTS News

MTS Futures News_PM_20181203

3 Dec 2018

• U.S. stock index futures jumped on Sunday, suggesting Wall Street was set rise further after its biggest weekly gain last week in nearly seven years as China and the United States agreed to shelve any new tariffs and reset discussions.

S&P 500 e-mini futures ESc1 were up 1.6 percent on high contract volume after trading resumed for the week at 6 p.m. (2300 GMT). Dow Jones Industrial Average e-mini futures 1YMc1 rose 1.8 percent, while Nasdaq 100 e-mini futures NQc1 jumped nearly 2 percent.

• Investors said the agreement, lasting 90 days, between Chinese President Xi Jinping and U.S. President Donald Trump at the G20 summit spelled a reprieve for stocks and could pave the way for a positive bookend to a volatile trading year.

U.S. stock index futures jumped as trading for the week began late on Sunday, with benchmark S&P 500 e-mini futures ESc1 up 1.55 percent. Treasury futures were soft, suggesting an appetite for risk-taking could extend last week’s gains in the stock market.

“It sets a pretty positive tone (and) stocks should have a decent rally into December,” said Nathan Thooft, Boston-based global head of asset allocation for Manulife Asset Management.

While factory activity rose slightly in China, new export orders extended their decline in a further blow to a sector already hurt by Sino-U.S. trade frictions.

• European stocks opened higher Monday morning, after President Donald Trump and President Xi Jinping negotiated a temporary truce to their trade conflict over the weekend.

The pan-European Stoxx 600 was up around 1.2 percent shortly after the opening bell, with most sectors and major bourses in positive territory.

• Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets and battered oil prices.

E-Mini futures for the S&P 500 ESc1 climbed as much as 1.9 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS jumped 1.8 percent.

• Japan’s Nikkei surged to a six-week high on Monday after the United States and China suspended the imposition of new tariffs and agreed to try to reach a trade deal within 90 days.

The Nikkei share average soared 1.0 percent to 22,574.76, the highest closing level since Oct. 22.

• Shanghai shares saw their biggest daily gain in a month and the yuan firmed on Monday after Chinese and U.S. leaders agreed to a temporary truce in a bitter trade war, but the longer-term outlook for trade relations and Chinese markets remains murky.

The benchmark Shanghai Composite index closed 2.6 percent higher at 2,654.80 points and the blue-chip CSI300 index jumped 2.8 percent. Both posted their best daily gains since Nov. 2.

Reference: Reuters, CNBC

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