Global Stocks Waver Amid Uncertainty on Rates, Trade Talks

European stocks edge up

Asian shares mixed

U.S. Treasury yields tick down

Global stocks paused on Tuesday as investors took a wait-and-see approach to trade developments and the Federal Reserve’s next policy moves.

The Stoxx Europe 600 ticked up 0.2%, with rises in its health care constituents mostly offset by losses in its basic resources sector.

Shares in the world’s largest miner,

BHP Group

PLC, dropped 1.2% despite posting a record payout off the back of strong profits, after Chief Executive

Andrew Mackenzie

said the trade dispute between the world’s two largest economies had clouded the company’s outlook.

In Asia, major indexes were mostly positive or flat, though Hong Kong’s Hang Seng slipped 0.1% as recent political protests put pressure on the city’s government to enter talks. Japan’s Nikkei gained 0.6% and the Korean Kospi jumped more than 1%.

On Monday afternoon,

Mr. Trump

resumed his social-media criticism of the U.S. central bank, saying it had showed “horrendous lack of vision.” He said the Fed should instigate a rate cut of 1%, a level of action normally associated with a severe downturn. He also called for a package of measures such as quantitative easing to stimulate the economy and efforts to address dollar strength.

White House officials also said Monday they were weighing a range of actions that could boost business and spending activity.

Investors will be paying close attention to minutes from the Federal Reserve’s latest meeting on Wednesday, as well as any statements from Fed Chairman

Jerome Powell,

as they gather in Jackson Hole, Wyo. starting on Friday.

Yields on U.S. 10-year Treasurys edged down to 1.587% Tuesday, from 1.603% on Monday when they saw their biggest gain since July 5. Bond yields fall as prices rise.

On the earnings front, results are due on Tuesday from

Home Depot
Inc.

and

Medtronic

PLC.

Write to Anna Isaac at anna.isaac@wsj.com

Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!