(July 29): Asian stocks appeared to start the week on a mixed note when US-China trade talks resume and the Federal Reserve is expected to deliver its first ten-year interest rate cut.
Futures pointed to modest gains in Japan and Australia, while Hong Kong contracts were lower. The S&P 500 and the Nasdaq Composite Index hit fresh records on Friday when technology departments went back. The Treasury was a little changed and the dollar advanced against the big peers after the White House adviser, Larry Kudlow, said the US has excluded plans to intervene in foreign exchange markets.
Investors will pick through any development that Chinese and American dealers meet for two days of talks Tuesday, three months after their trade negotiations broke down, even though neither party has much hope for a breakthrough. Meanwhile, Fed chairman Jerome Powell's press conference after the meeting later this week will provide an opportunity to measure the path of US interest rates after the central bank is tipped to boost stimulus.
Business revenue will remain a focal point when investors remain vigilant. of signs that a decline in global economy is reflected in the companies' bottom lines. Among the big income this week is Apple, Rio Tinto and car manufacturers Toyota and BMW.
Here are some of the most important events to see when the week unfolds:
Revenue includes: Nintendo, Qualcomm, AMD, Siemens, Sony, Credit Suisse, Nomura, Toyota, Honda, Ferrari, GM, BMW, Rio Tinto , ConocoPhillips, BP, Shell, Vale, Heineken, GE, Altria.
The National Decree of the Banking Decree and Governor Haruhiko Kuroda briefing will be Tuesday.
US trade representative Robert Lighthizer and his team meet their Chinese counterparts in Shanghai on Tuesday.
Fed officials begin their two-day monetary policy meeting in Washington on Tuesday. Chairman Jerome Powell will hold a press conference following FOMC's decision Wednesday.
Inflation data for Australia is due Wednesday.
There is a decision on the Bank of England policy due to Thursday.
U.S. Pat. July work report is due Friday.
These are the most important movements in the markets:
Futures on Nikkei 225 rose 0.3% earlier.
Australia's S & P / ASX 200 index contracts rose 0.3%.
Hong Kong's Hang Seng index futures dipped 0.1
The S&P 500 index gained 0.7% Friday.
The yen was steady at 108.65 per dollar.
Offshore yuan was 6.8819 per dollar.
Bloomberg Dollar Spot Index rose 0.2% to the highest in more than five weeks Friday.
The euro traded at $ 1.1127.
The pound was at $ 1,2381.
The yield on 10-year government bonds dipped one base point to 2.07% Friday.
West Texas Oil increased 0.3% to $ 56.20 a barrel Friday.
Gold was up 0.3% to $ 1,418.90 ounce. – Bloomberg