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Asian Stocks Set for a Lower Open; Dollar Steady: Markets Wrap
By Cormac Mullen

February 19, 2018, 5:15 PM EST Updated on February 19, 2018, 6:13 PM EST

European shares closed lower; oil holds gains above $62
U.S. markets were closed Monday for Presidents’ Day holiday

Asian stocks look set to slide Tuesday as European shares fell and U.S. stock futures headed lower albeit in thin holiday trading. The dollar steadied and oil climbed.

S&P 500 Index futures extended the drop as they started trading in Tokyo, while contracts in Japan and South Korea indicated a lower open after the Stoxx Europe 600 Index fell for the first time in four days. Australian stocks fell. The yen steadied after retreating from a 15-month high. European markets were the center of investor attention on Monday as U.S. stocks and Treasuries took a break for Presidents’ Day holiday. Traders return to their desks in Hong Kong on Tuesday, while Chinese markets reopen on Thursday.

Investor focus now turns to the U.S. Treasury, which opens its auction floodgates this week, beginning with $151 billion of short-term bills on Tuesday. With little in the way of significant economic data on the schedule, the sales will provide the clearest gauge yet of how steeply bond yields may rise in the world’s largest economy.




Elsewhere, oil climbed above $62 a barrel for the first time in more than a week as an alliance of some of the world’s largest oil producers signaled further cooperation to tighten supplies through the end of the year. Bitcoin broke above $11,000.

Terminal users can read more in our markets blog.

Here are some key events scheduled for this week:

The Reserve Bank of Australia releases minutes of its February meeting Tuesday.
The Federal Reserve will release minutes on Wednesday of its Jan. 30-31 meeting, Janet Yellen’s last as chair, where officials kept the rate unchanged.
Fed policy makers speaking this week include New York Fed President William Dudley and Atlanta Fed President Raphael Bostic. Cleveland Fed President Loretta Mester is among speakers at the U.S. Monetary Policy Forum in New York City.
Companies announcing earnings this week include: Walmart, Home Depot, HSBC, BHP Billiton, Glencore, Barclays.

These are the main moves in markets:
Stocks

Futures on Japan’s Nikkei 225 Stock Average declined 0.7 percent in Osaka.
Australia’s S&P/ASX 200 Index fell 0.2 percent.
The Stoxx Europe 600 Index fell 0.6 percent.
Futures on the S&P 500 lost 0.2 percent as of 8:11 a.m. in Tokyo.

Currencies

The Bloomberg Dollar Spot Index rose 0.1 percent.
The euro traded at $1.2408.
The yen was little changed at 106.62 per dollar.

Bonds

Australia’s 10-year yield rose one basis point to 2.90 percent.

Commodities

West Texas Intermediate crude rose 1.4 percent to $62.51 a barrel.
Gold added 0.1 percent to $1,347.72 an ounce.

https://www.bloomberg.com/news/articles/2018-02-19/asian-stocks-set-for-a-lower-open-dollar-steady-markets-wrap