US equity-index futures edged higher as trade talks gathered pace ahead of a July 9 deadline and Senate negotiations continued over President Donald Trump's $4.5 trillion tax cut package. Contracts for the S&P 500 index and the Nasdaq 100 rose 0.3%. Major currencies were slightly higher against the dollar in early Asian trading, while stock futures showed gains in Japan, a decline in Hong Kong and little change in Australia. Crude oil fell 1% as traders wound back risk premium before OPEC+ meeting. We get some market perspective from Shams Afzal, Managing Director at the Carnegie Investment Counsel.Plus - Monetary policymakers from five major economies will gather Tuesday at the European Central Bank's annual retreat in Sintra, Portugal. The summit comes as Trump-era trade turbulence and geopolitical instability weigh on global markets. Fed Chair Jerome Powell and ECB head Christine Lagarde are set to share a public stage for the first time in a year. For more on how tariffs are impacting economic outlooks, we heard from Louise Loo, Lead Economist at Oxford Economics. She speaks with the hosts of Bloomberg Television's The Asia Trade, Shery Ahn and Haidi Stroud-Watts.See omnystudio.com/listener for privacy information.
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18:27
Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the June jobs report and commodities outlook. In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix. In Asia – a look at relations between China and Iran. See omnystudio.com/listener for privacy information.
Asian stocks advanced after a gauge of global equities touched a record high Thursday on calming geopolitical concerns and increased expectations for Federal Reserve interest-rate cuts this year. Equities in Japan, South Korea and Australia all rose Friday after the S&P 500 advanced 0.8% to within striking distance of a new high. The Nasdaq 100 achieved the feat after rising 0.9% on Thursday, helping MSCI's global shares index to a record high. US stock futures edged higher Friday. We get market insights from Rebecca Walser, President at Walser Wealth Management.Plus - Commerce Secretary Howard Lutnick says the US and China have finalized a trade understanding reached last month in Geneva. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. Lutnick speaks with Bloomberg Balance of Power hosts, Joe Mathieu and Kailey Leinz.See omnystudio.com/listener for privacy information.
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18:00
Nvidia, Nasdaq 100 Hit New All-Time Highs
The US stock rally lost some steam Wednesday with the S&P 500 Index ending the day flat after Federal Reserve Chair Jerome Powell told lawmakers that officials are struggling to determine the toll of tariffs on inflation. The benchmark closed the session unchanged in New York after swinging between small gains and losses, while the technology heavy Nasdaq 100 Index edged up 0.2% to log another all-time closing high. The tech benchmark reached the milestone Tuesday for the first time since February as a combination of robust fundamentals and easing geopolitical tensions boosted the appeal of the growth-focused gauge. In individual stock moves, Nvidia shares closed at an all-time high, with the leader in artificial intelligence chips extending an advance that has cemented its position as one of the most valuable companies in the world. We get reaction to the day's price action from Katy Kaminski, Chief Research Strategist at AlphaSimplex.Plus - Hong Kong's de facto central bank bought the local dollar to prop it up on Thursday, in a move to defend the city's currency peg to the greenback. The Hong Kong Monetary Authority purchased HK$9.42 billion ($1.2 billion) of local currency against the US dollar, after the exchange rate touched the weak end of the permitted 7.75-7.85 per greenback trading band. In addition to pushing the currency back into its permitted trading range, the move will also make bearish bets more costly. It does this by draining liquidity from the financial system and driving up borrowing costs. We get reaction from Garfield Reynolds, Bloomberg's MLIV Asia Team Lead. He speaks with Bloomberg's Haidi Stroud-Watts and Avril Hong.See omnystudio.com/listener for privacy information.
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15:56
Cautious Open as Israel-Iran Ceasefire Appears to Hold
Stocks in Asia opened on a cautious note as the Israel-Iran truce appeared to hold and Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts. Late Tuesday in the States, President Donald Trump appeared to undermine years of US sanctions on Iran, giving its biggest customer China the green light to carry on buying its oil as he seeks to bolster a ceasefire with Israel. We discuss Beijing's role in what now appears to be a subdued conflict with Jenni Marsh, Greater China Eco-Gov Team Leader for Bloomberg News. Plus - Treasury yields and a gauge of the dollar steadied. The benchmark 10-year yield shed five basis points in the previous session as Fed Chair Powell said "many paths are possible" for monetary policy. We look at the US central bank's path ahead with JoAnne Bianco, Partner and Senior Investment Strategist at BondBloxx Investment Management.See omnystudio.com/listener for privacy information.
Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.
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