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Stocks at one-week high on China stimulus…

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by

Joe Rios
in

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WORLD HEADLINES – Global shares held near one-week highs on Wednesday, supported by robust U.S. earnings and expectations of additional stimulus from Beijing that could temper the impact of China’s simmering trade dispute with the United States.

STOCKS – U.S. equities now stand less than half a percent off record highs hit in January, testifying to the strength of the world’s biggest economy and corporate sector, which has seen average earnings grow 23 percent in the second quarter.

BONDS – Treasury yields held steady before the biggest-ever 10-year note auction, and Italian bonds climbed.

COMMODITIES – Brent futures held firm around $75 a barrel as U.S. sanctions on Iranian goods went into effect, intensifying concerns of looming crude supply shortages.

CURRENCIES – The dollar recovered while the pound hit the lowest since October against the euro as traders sought protection against a no-deal Brexit.

ECONOMIC DATA – CAD Unemployment Rate and US CPI due at 8:30 ET.

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