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S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday’s above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Speculators’ net long positions in U.S. bond futures hit the highest level since October 2017, U.S. financial watchdog data showed. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. Bitcoin held on to weekend gains, when Elon Musk flagged Tesla’s possible resumption of transactions using the token.
Persons: Goldman Sachs, ” John Woolfitt, Treasuries, , Akira Takei, Bitcoin Organizations: U.S . Federal, Atlantic Capital, Asset Management, Nikkei, European Central Bank, Elon Musk Locations: TOKYO, U.S, COVID, China, London, , Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Asia-Pacific stocks mixed; bitcoin surges following Musk comments
  + stars: | 2021-06-14 | by ( Eustance Huang | ) www.cnbc.com sentiment -1.00   time to read: +1 min
SINGAPORE — Shares in Asia-Pacific were mixed in Monday trade, with multiple major markets in the region closed for holidays. Official data released Monday showed Japan's seasonally adjusted index for production rising 2.9% in April from the previous month. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.17% lower. In the cryptocurrency space, bitcoin jumped to trade at $39,292.37 as of 12:48 a.m. Those gains came after Tesla CEO Elon Musk said the electric vehicle maker will resume bitcoin transactions once it confirms " reasonable (~50%) clean energy usage by miners with positive future trend."
Persons: Korea's Kospi, bitcoin, Elon Musk Organizations: Nikkei, Singapore's Straits, BSE, Japan, Tesla Locations: SINGAPORE, Asia, Pacific, Japan, Southeast Asia, India, Coindesk, Australia, China, Hong Kong
World stocks near record high as investors await dovish Fed act
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-HoonGlobal shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. The MSCI all-country world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. "There will probably be no surprise from the Fed this week," said Mitsubishi UFJ's Fujito. U.S. West Texas Intermediate (WTI) crude futures added 0.2% to $71.05 per barrel, near their highest since October 2018.
Persons: Kim Kyung, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Treasuries, Akira Takei, Boris Johnson's, Johnson Organizations: Nikkei, REUTERS, Hoon Global, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Asset Management, European Central Bank, British, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe, India
Stocks wait at record peaks for Fed; oil marches higher
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
Japan's Nikkei (.N225) rose 0.7% while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.2%. The MSCI world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. "Yes, PPIs are racing higher, but will that be reflected in higher consumer goods prices from China? Certainly, that's what the U.S. bond market is saying to us." Speculators are also building up long positions in U.S. debt, with their net long positions in U.S. bond futures hitting the highest level since October 2017 , U.S. financial watchdog data showed.
Persons: Athit, Jeffrey Halley, Treasuries, Akira Takei, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Boris Johnson's, Johnson, Bitcoin Organizations: REUTERS, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Oil, Asset Management, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, European Central Bank, British, Brent, Elon Musk, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe
Sen. John Boozman cashed out of Johnson & Johnson, among other stocks. Rep. Scott Franklin, a Republican of Florida, just made some of the biggest stock moves of 2021 — at least among members of Congress. Johnson & Johnson has also experienced vaccine production issues. Meanwhile, Sen. Shelley Moore Capito's husband, Charlie Capito, sold up to $15,000 worth of shares in Wells Fargo on May 10. Energy stocks are hotRep. Mark Green, a Republican from Tennessee, made two stock purchases in motor fuel distributor CrossAmerica Partners.
Persons: Sen, Elizabeth Warren . Rep, Scott Franklin, John Boozman, Johnson, we've, Pramila, Elizabeth Warren, Chris Evans, , Republican Sen, Richard Burr of, Tom Malinowski, John Sarbanes of, Ilhan Omar, Minnesota, Janice Schakowsky of, Chuy Garcia, Mark Pocan, Bill Clark, Roth, Danny Johnston John Boozman, Walt Disney, Morgan Chase, Boozman, Elaine Chao, Mitch McConnell, Carlos Barria Mitch McConnell, Trump, Mitch McConnell of, Chao, Wells Fargo, Shelley Moore, Charlie Capito, Mark Green, Green, James Langevin, rollin, rollin ', Earl Blumenauer isn't, Ann Wagner, Wagner, Arthur Byrant Organizations: Massachusetts Democrat, Stock, Republican, Democratic Rep, New, Democratic, Chuy Garcia of Illinois, Getty, Florida Republican, Roth IRA, Viatris Inc, AT, T Inc, AP, Apple, Bank of America, Comcast, Walt, Intel, HP, Dynamics, Honeywell, Union Pacific, Johnson, and Drug Administration, Former, Reuters, Carlos Barria Mitch McConnell fam, Wells Fargo & Company, Energy, CrossAmerica Partners, Shell Midstream Partners, Generac Holdings, Congressional, Caucus, AutoZone Inc, Trempealeau County Justice Center Locations: Washington, Massachusetts, Richard Burr of North Carolina, New Jersey, John Sarbanes of Maryland, Janice Schakowsky of Illinois, Wisconsin, Florida, Arkansas, Wells, Mitch McConnell of Kentucky, Wells Fargo, Tennessee, Rhode Island, Generac, Oregon, Middle America, The Missouri, Trempealeau, La Crosse , Wisconsin
European markets continue march to record highs as Fed meeting looms
  + stars: | 2021-06-14 | by ( Elliot Smith | ) www.cnbc.com sentiment -0.99   time to read: 1 min
European stocks advanced higher to start the week as investors look ahead to the June meeting of the U.S. Federal Reserve. The pan-European Stoxx 600 gained 0.2% by mid-morning after closing last week at a record high. The Fed is expected to leave monetary policy unchanged and again downplay talk of tapering down its stimulus program. Shares in Asia-Pacific were mixed on Monday with markets in mainland China, Hong Kong and Australia closed for public holidays. Stateside, U.S. stock futures were little changed in early premarket trade after the S&P 500 closed out last week at a record high.
Organizations: U.S . Federal Reserve Locations: Asia, Pacific, China, Hong Kong, Australia
REUTERS/Kim Kyung-HoonWorld stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week. S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday's above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Speculators' net long positions in U.S. bond futures hit the highest level since October 2017 , U.S. financial watchdog data showed. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Kim Kyung, Goldman Sachs, John Woolfitt, Treasuries, Akira Takei, Bitcoin Organizations: Nikkei, REUTERS, U.S . Federal, Atlantic Capital, Asset Management, Japan's Nikkei, European Central Bank, Elon Musk, Thomson Locations: Tokyo, Japan, U.S, COVID, China, London, Asia, Hong Kong, Australia, Pacific, Xinjiang
NZ to apologise for 'discriminatory' police raids against Pacific community
  + stars: | 2021-06-14 | by ( Praveen Menon | ) www.reuters.com sentiment -0.88   time to read: +1 min
New Zealand Prime Minister Jacinda Ardern participates in a televised debate with National leader Judith Collins at TVNZ in Auckland, New Zealand, September 22, 2020. Fiona Goodall/Pool via REUTERS/File PhotoNew Zealand is to make a formal apology to the Pacific community which felt "targeted and terrorised" during police raids searching for overstayers in the 1970s, Prime Minister Jacinda Ardern said on Monday. The raids were racist as they targeted people from neighbouring Pacific islands suspected of overstaying, but never those from Britain or the United States, even though about 40% of overstayers at the time were British or American. "Communities at the time felt targeted and terrorised and there is clear evidence the raids were discriminatory and have had a lasting negative impact," Ardern said. The formal apology will be delivered at a commemoration event on June 26 in Auckland Town Hall.
Persons: Jacinda Ardern, Judith Collins, Fiona Goodall, overstayers, Ardern Organizations: Zealand, TVNZ, Auckland Town Hall, Thomson Locations: Auckland , New Zealand, Zealand, Pacific, Britain, United States, overstayers, Auckland
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 11, 2021. REUTERS/StaffWorld stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week. S&P 500 futures meanwhile nudged 0.1% higher, with investors apparently viewing Thursday's above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Goldman Sachs, John Woolfitt, Treasuries, Akira Takei, Paul Donovan, Brexit, Donovan, Bitcoin Organizations: REUTERS, Staff, U.S . Federal, Atlantic Capital, Asset Management, UBS Global Wealth Management, Markets, Japan's Nikkei, European Central Bank, Elon Musk, Thomson Locations: Frankfurt, Germany, U.S, COVID, China, London, Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
Russia has announced plans to decommission the ballistic-missile submarine Ekaterinburg. That will be the beginning of the end for the subs that have long been the backbone of the Soviet and Russian fleet. The Delta seriesRussian ballistic-missile sub BS-64 Podmoskovye at the Northern Fleet base in Severomorsk, July 3, 2019. It was involved in a few missile tests and conducted a number of patrols with the Northern Fleet. Two of the Boreis are assigned to the Northern Fleet, while the other two are assigned to the Pacific Fleet.
Persons: Lev Fedoseyev, SLBM, MIRVs, Yury Dolgoruky, Yury Dolgorukiy, Vladimir, Knyaz Vladimir, Knyaz Oleg Organizations: Soviet, Russian Navy, Russian SSBN, Northern Fleet, Getty, Delta IVs, Delta, Fleet, Pacific Fleet, Getty Images Ekaterinburg, Russia, RSM, Northern, Russian Defense Ministry Locations: Russia, Ekaterinburg, Russian, Severodvinsk, Severomorsk, Delta, Ryazan, Russia's, Murmansk, Gadzhiyevo, Pacific
The 10 highest-raising logistics startups have landed more than $1 billion this year. In the year leading up to the pandemic, logistics startups posted some of the largest rounds the industry had ever seen. But the company remains one of the most high-profile logistics startups. Arrive Logistics CEO Matt PyattMatt Pyatt is the CEO of Arrive Logistics. Like many freight startups, KeepTruckin wavered in 2020 — laying off 349 staffers, 18% of its team.
Persons: Project44, Jett McCandless, they're, McCandless, Jiajun Zhu Nuro, Chipotle Nuro, Baillie Gifford, Jiajun Zhu, Nuro, Ryan Petersen Ryan Petersen, Daniel Reinhardt, SoftBank, Ryan Petersen's, ImportGenius, Flexport, Dan Lewis Lewis, Rowe Price, Baillie Gifford Convoy, Dan Lewis, Lewis, Samantha Lee, Goldman Sachs, Jan Bednar, ShipMonk, Matt Pyatt Matt Pyatt, Matt Pyatt, Tobin Moore Tobin Moore, Optoro, retails, Tobin Moore, Moore, cofounding Optoro, Mikko Kärkkäinen Mikko Kärkkäinen, Forrester, Mikko Kärkkäinen, Shoaib Makani, KeepTruckin, Hunt, Mathew Elenjickal Elenjickal, FourKites, Mathew Elenjickal, Elenjickal Organizations: Walmart, CVS, Partners, Getty, Fund, GV, TechCrunch, Flexport, Convoy, Greylock, Microsoft, Google, cofounding Convoy, Uber, Business, Silicon Valley Bank, Insight Partners, Summit, SJF Ventures, Periphas, Florida Atlantic University, Logistics, Temasek, Lead Edge, Baupost, Command Transportation, Ikea, UPS Ventures, Target, American Eagle Outfitters, Relex, TCV, Albertsons, Index, Institutional Venture Partners, Khosla Ventures, Bain Capital Ventures, Hyde Park Venture Partners, Volvo Group Ventures, Gartner, Solutions Locations: Georgia, Pacific, Silicon, Chicago, Europe, Czech Republic, Texas, Finland, TCV, Oracle's, Walmart Canada
Jeffrey Toobin’s return to CNN as a legal analyst on Thursday was a master class in how to evade accountability. Framed as a “mistake,” Toobin is able to avoid having to justify his deliberate choices that were calculated on the permissibility and success of risk. The network has yet to demonstrate how it has changed its policies or implemented a culture of accountability since Toobin's chosen eight-month leave of absence. The network’s own langue echoes Toobin’s “mistake” rhetoric as a way to excuse the need to make systemwide changes. There is no culture of accountability when offensive and harmful actions are repeatedly written off as “stupid mistakes.”
Persons: Jeffrey Toobin’s, Toobin, , ” Toobin, , , Lisa Kudrow, Emily Wilder, Janet Jackson, Justin Timberlake, Simpson, Condé Nast, Camerota Organizations: CNN, Twitter, Press, Oklahoma, New Yorker
A federal judge halted a program aimed at forgiving the loans of Black farmers. The Wisconsin Institute for Law and Liberty waged a lawsuit against the program in April. The lawsuit on behalf of white farmers claimed the program was discriminatory. "This is a big deal for us," John Boyd, Jr., president of the National Black Farmers Association, told CBS MoneyWatch in March. "When the temporary order is lifted, USDA will be prepared to provide the debt relief authorized by Congress."
Persons: William Griesbach, Joe Biden, John Boyd , Jr, Matt Herrick Organizations: Wisconsin Institute for Law and Liberty, of Agriculture, Milwaukee Journal Sentinel, Pacific, National Black Farmers Association, CBS MoneyWatch, Republican, USDA, Washington Post, Congress Locations: Wisconsin, Milwaukee, American
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler said. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.54%, with the euro fell 0.55% to $1.2102. Oil prices rose to multi-year highs, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.
Persons: “ You’ve, , Michael James, Rick Meckler, ” Meckler, , Jeremy Gatto Organizations: European Central Bank, Federal Reserve, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: Europe, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
A five-year-old video of the Fraser River Plume in the Strait of Georgia in Canada is being shared online as if to represent the Atlantic and Pacific oceans meeting off the southern tip of South America. Recent versions claiming the footage shows the Pacific and Atlantic oceans meeting off of Tierra del Fuego archipelago in the southernmost tips of Argentina and Chile can be seen here and here . The videos show two expansive bodies of water that appear not to be mixing, creating an incredible natural phenomenon. The original YouTube video, seen here and of much higher quality than the recent versions recirculating, was posted by Maryan Pearson. The video does not show the Atlantic and Pacific oceans meeting near South America; the miscaptioned video shows the Fraser River Plume flowing into the Pacific Ocean in Canada.
Persons: Plume, Maryan Pearson, Pearson, , Read Organizations: YouTube, Pacific, Ocean Networks, University of Victoria, Geographic, BC Ferries, Reuters Locations: Strait, Georgia, Canada, South America, Tierra del Fuego, Argentina, Chile, British Columbia, Horn, Fraser, Nanaimo, Vancouver, Duke
$15M awarded to five people who lost eggs, embryos at fertility clinic
  + stars: | 2021-06-11 | by ( The Associated Press | ) www.nbcnews.com sentiment -1.00   time to read: +2 min
SAN FRANCISCO — A jury on Thursday awarded nearly $15 million to five people who lost eggs or embryos when a cryogenic storage tank failed at a fertility clinic. The award — including more than $14 million in damages for pain, suffering and emotional distress — will go to three women who lost eggs and a married couple who lost embryos. You start to isolate.”A similar tank failure in a Cleveland suburb that occurred the same day as the San Francisco failure ruined more than 4,000 eggs and embryos. In closing arguments during the San Francisco trial, a lawyer for Chart blamed the fertility center for the tank failure. The three women were each awarded about $2 million to $3 million, while the couple was awarded $7.2 million.
Persons: Chloe Poynton, you’ll, ” Poynton Organizations: FRANCISCO, Pacific Fertility, Industries Inc, San Locations: San Francisco, Cleveland, U.S
If first you don’t succeed: Developer Troon Pacific, which pitched a spec house in San Francisco’s Russian Hill for $45 million in 2018, and sold it for $27 million last year, is trying again. The firm is about to list another spec home, this time in the nearby Cow Hollow neighborhood, for $46 million. Mr. Malin added he thinks the San Francisco market has rebounded substantially since then. Sometimes, he said, San Francisco buyers spend tens of millions on a home, only to have to invest equal or more in an expensive renovation. Listing agent Neal Ward of Compass noted the Cow Hollow property is much larger than most other homes in its vicinity, thanks to its triple-wide lot, and added that it is rare to find such a large site to develop in an upscale San Francisco neighborhood.
Persons: don’t, Gregory Malin, , Malin, Neal Ward Organizations: Developer Troon, Troon Pacific, Troon, Compass Locations: San, Russian, Northern California, Troon, San Francisco
Asia stocks up, U.S. bond yields down as inflation fears ease
  + stars: | 2021-06-11 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +4 min
SHANGHAI (Reuters) - U.S. bond yields dipped to three-month lows and a broad gauge of Asian shares rose on Friday as investors looked past rising U.S. consumer prices and focused on one off-factors which suggested higher inflation could be short-lived. Data overnight showed the U.S. consumer price index posted its biggest year-on-year increase since August 2008 at 5%, following a 4.2% rise in April. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. The 10-year U.S. Treasury note’s yield dipped to a three-month low of 1.4340%, down from Thursday’s close of 1.459%. Hopes for stronger economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: Kim Kyung, DAX, , Rob Carnell, Seoul’s, Larry Hu Organizations: REUTERS, Federal, European Central Bank, . Labor Department, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: SHANGHAI, Tokyo, Japan, U.S, Asia, Pacific, Singapore, China, Hong Kong, Thursday’s
LONDON/SHANGHAI (Reuters) - Shares gained on Friday and bond yields fell from the United States to Europe as investors shrugged off rising U.S. consumer prices, even as fears of longer-term inflation lingered. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 10, 2021. London shares gained 0.6%, helped by a 1% gain for the mining sector, while Paris climbed 0.4%. The rise in the U.S. consumer price index reflected short-term adjustments related to the reopening of the economy, some economists say. “We are going to get a further boost from the consumption side, and we therefore expect bond yields moving higher.”The U.S. dollar fell as yields dipped.
Persons: , Kiran Ganesh, , Jeremy Gatto Organizations: REUTERS, Staff, London, European Central Bank, Wall, Federal, . Labor Department, Treasury, UBS Global Wealth Management, , Investors, U.S Locations: SHANGHAI, United States, Europe, Frankfurt, Germany, Paris, U.S, London, Asia, Pacific, Japan, coronavirus, Unigestion
London shares gained 0.7%, helped by a 2.3% jump for the mining sector, while Paris climbed 0.8%. The MSCI world equity index, which tracks shares in almost 50 countries, gained 0.1%. “Markets seem to be taking the Fed at its word but when we talk to clients there is concern about long-term inflation.”Euro area bond yields followed suit. “We still think consumers are going to help prices higher, when these economies reopen properly, that people can start travelling again, spending again,” said Jeremy Gatto, investment manager at Unigestion. “We are going to get a further boost from the consumption side, and we therefore expect bond yields to move higher.”The U.S. dollar slipped as yields dipped before edging back up.
Persons: Toby Melville, , Kiran Ganesh, , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, London, European Central Bank, Wall, Federal, . Labor Department, Treasury, UBS Global Wealth Management, , Japan, Investors, U.S, Brent Locations: United States, City, City of London, Britain, Paris, Europe, U.S, London, Asia, Pacific, coronavirus, Unigestion, China
Stocks hover near record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +3 min
The ECB’s projections pushed the pan-regional STOXX Europe 600 index up 0.68% to an intraday high and record close at 457.64. Investors are leaning into tech stocks because they don’t use raw materials and productivity rate is higher than other sectors, he said. “There is a concern that eventually you could get some migration out of stocks into bonds. But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks,” Meckler said. The dollar index rose 0.57%, with the euro down 0.61% to $1.2095.
Persons: Toby Melville, Rick Meckler, ” Meckler, , , Jeremy Gatto Organizations: London Stock Exchange Group, City of, REUTERS, European Central Bank, Cherry Lane Investments, Investors, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: City, City of London, Britain, Europe, breakeven, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
Stocks set record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +5 min
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler added. U.S. growth-oriented stocks slightly outpaced value stocks as the two styles vied for leadership: big tech stocks added the most upside followed by financial shares. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.49%, with the euro down 0.51% to $1.2107.
Persons: Brendan McDermid, “ You’ve, , Michael James, Rick Meckler, Meckler, Jack Ablin, ” Ablin, , Jeremy Gatto Organizations: New York Stock Exchange, REUTERS, European Central Bank, Federal Reserve, Treasury, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Cresset Capital Management, Japan, Brent Locations: St, New York City, U.S, Europe, Stocks, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, COVID, Unigestion
In morning trade in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.18%. “But the Fed, which meets next week, can still point to no deviation of inflation expectations to back up its continued mantra of transitory inflation. “Because of very strong external demand the negative impact from credit deceleration should be OK in the next three to six months, mainly thanks to the strong demand from the U.S.,” said Larry Hu, economist at Macquarie in Hong Kong. The spread between the 2-year and 10-year yield also hit its narrowest level since late February, as inflation expectations eased. Hopes for strong economic demand following the U.S. unemployment claims report lifted oil prices to two-year highs on Thursday.
Persons: , Rob Carnell, Seoul’s Kospi, Larry Hu Organizations: Nikkei, . Labor Department, Japan, Japan’s Nikkei, ING, Macquarie, Dow Jones, Nasdaq, Treasury, Brent, U.S . West Texas Locations: Asia, Japan, SHANGHAI, Pacific, Singapore, China, U.S, Hong Kong, Thursday’s
BlackRock Gets Green Light to Start Offering Mutual Funds in China
  + stars: | 2021-06-11 | by ( Quentin Webb | ) www.wsj.com + 0.00   time to read: +2 min
BlackRock, the world’s largest money manager with $9 trillion in assets under management as of end-March, has made expansion in China a priority. It secured a nod from the China Securities Regulatory Commission last August to establish the mutual-fund business, which is now permitted to begin selling funds. “We look forward to sharing our global investment expertise and offering more differentiated investment solutions to Chinese investors,” BlackRock Chairman and Chief Executive Larry Fink said in a statement Friday. BlackRock’s Shanghai-based unit, BlackRock Fund Management Co., now has six months to launch its maiden fund for individual investors, a spokeswoman said. This and future funds are likely to be sold through traditional mutual-fund distribution channels in China, which include banks and brokerages, she added.
Persons: Larry Fink, Rachel Lord, BlackRock’s, , , Goldman Sachs, Dawn Lim, Quentin Webb Organizations: BlackRock Inc, New, JPMorgan Chase &, Goldman Sachs, Inc, BlackRock, China Securities Regulatory, ” BlackRock, Fidelity International, JPMorgan, BlackRock’s, BlackRock Fund Management Co, Asia, China Construction Bank, Temasek . Wealth, Industrial, Commercial Bank of China Ltd Locations: New York, China, Washington, Beijing, U.S, BlackRock’s Shanghai, BlackRock, Asia Pacific, Singapore
Asia-Pacific stocks mixed as S&P 500 sails to record close on Wall Street
  + stars: | 2021-06-11 | by ( Eustance Huang | ) www.cnbc.com sentiment -0.99   time to read: 1 min
SINGAPORE — Shares in Asia-Pacific were mixed in Friday afternoon trade, following gains overnight on Wall Street that saw the S&P 500 sailing to a record closing high. Stocks in Japan were little changed as the Nikkei 225 hovered above the flatline while the Topix sat about 0.1% lower. Mainland Chinese stocks declined as the Shanghai composite fell 0.25% while the Shenzhen component slipped 0.515%. Hong Kong's Hang Seng index advanced 0.39%. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.35%.
Organizations: Stocks, Nikkei Locations: SINGAPORE, Asia, Pacific, Japan, South Korea, Shanghai, Shenzhen, Australia
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