Business Maverick: Stocks Mixed Before Fed; Treasuries Keep Advance: Markets Wrap

Shares slipped in Japan, where Fitch Ratings lowered its outlook on the country’s debt and earnings at Canon Inc. disappointed. Stocks in Hong Kong and South Korea ticked up and those in China outperformed on low volumes.

added to evidence that the pace of the rebound is cooling as the virus interrupts reopenings in several states.extended most of its emergency lending programs by three months, through the remainder of 2020. The U.S. central bank is set to announce its rate decision Wednesday, and the market anticipates a dovish statement.

“There’s enough stimulus and support in the market from a monetary policy perspective, but also from fiscal, and that keeps a nice floor under the market,” said Amanda Agati, chief investment strategist for PNC Financial Services Group. “But we also think it’s going to be very difficult to make a lot of forward progress in this environment.”

Elsewhere, oil steadied after an overnight decline as investors shifted their focus to domestic supply, with expectations for another build in already swelling U.S. stockpiles.Earnings include Rio Tinto and Barclays on Wednesday; Thursday brings Apple, Amazon.com, Alphabet, L’Oreal, Credit Suisse and Samsung; Chevron and Caterpillar are set for Friday.These are some of the main moves in markets:Japan’s Topix index declined 0.8%.South Korea’s Kospi index rose 0.5%.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK ANALYSIS: Dollar’s diminishing safe-haven status is a benefit to emerging marketsInvestors have been rushing to the sanctuary of gold and alternative safe-haven currencies instead of the dollar, which reached a 22-year low. Low US bond yields, political uncertainty ahead of the elections and concern about the difficulties the US is having in getting the pandemic under control are all weighing on the greenback.
Source: dailymaverick - 🏆 3. / 84 Read more »

MARKET WRAP: Gold stocks surge as metal reaches record highGold hits a record high as the dollar continues to struggle amid US-China tension and a surge in Covid-19 infections
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Business sees long and hard road for SA’s economic recoveryBusiness for SA has warned that the country’s economic recovery could take two years or longer because the economy was already weak at the start of 2020 and before the highly contagious virus was imported.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Life after the pandemic: Kumba approves R7bn mine expansion projectEven amid the Covid-19 pandemic and global economic turbulence, companies are allocating capital to expansion projects. Kumba Iron Ore, a unit of Anglo American, has announced approval of funding for its R7-billion Kapstevel South project at the Kolomela mine in the Northern Cape province. This underscores Anglo’s commitment to South Africa.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: R16.5bn to make the R135bn Steinhoff headache go awaySometimes it’s better to cut your losses and run. This is what Steinhoff’s board is hoping aggrieved shareholders will do. One shareholder is not taking the bait.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Old Mutual to Move Zimbabwe Listing as Currency War EscalatesOld Mutual Ltd. is poised to stop trading its shares on the Zimbabwe Stock Exchange, the latest step in the government’s efforts to bring order to its chaotic foreign-exchange market.
Source: dailymaverick - 🏆 3. / 84 Read more »