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economic data today | Stock tips 9 Aug | commodity tips

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Asian stocks rose a third day, with the regional benchmark index extending a three-month high, on speculation central banks from the U.S. to China will take steps to boost growth and after companies including Chimei Influx Corp. beat estimates. The MSCI Asia Pacific Index gained 0.4 percent to 120.09 as of 7:36 p.m. in Tokyo; paring gains of as much as 0.9 percent amid speculation Japanese stocks have risen too far, too fast.

U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will snap a three-day rally, as weakening American demand for oil and slowing German exports fueled concern the global economy is faltering. Futures on the S&P 500 expiring in September dropped 0.2 percent to 1,393.6 at 7:18 a.m. in New York. The benchmark measure gained 0.5 percent yesterday amid better-than-estimated corporate earnings and speculation global central banks will take steps to boost economic growth

European stocks declined from a four- month high as companies from ING Groep NV (INGA) to Securitas AB reported earnings that missed estimates. U.S. index futures fell while Asian shares rose. The Stoxx Europe 600 Index (SXXP) slipped 0.4 percent to 267.66 at 10:33 a.m. in London, after climbing to the highest level since March 20 yesterday. The benchmark measure has rallied 14 percent since June 4, racking up nine straight weeks of gains.

Treasuries rose for the first time in four days after reports showed German exports and industrial production dropped, boosting demand for U.S. government securities as a haven from Europe’s sovereign-debt crisis. The 1.75 percent note due in May 2022 gained 5/32, or $1.56 per $1,000 face amount, to 101 7/32. The yield increased to 1.64 percent yesterday, the highest level since July 2.


Australia’s dollar was 0.6 percent from its highest level in more than four months after data showed home-loan approvals rose in June by the most this year, adding to signs of improvement in the economy. The Australian dollar was at $1.0545 as of 4:10 p.m. in Sydney from $1.0554 yesterday, when it reached $1.0604, the strongest since March 20. It slid 0.4 percent to 82.68 yen.

The euro weakened as reports showing declines in German industrial production and exports added to evidence that Europe’s sovereign debt crisis is hurting the region’s largest economies. The euro fell 0.3 percent to $1.2367 at 6:36 a.m. New York time. It dropped 0.6 percent to 96.85 yen, while the Japanese currency rose 0.4 percent to 78.31 per dollar.

Oil slid from the highest close in more than two months as investors sold contracts on speculation that recent gains were excessive amid signs of weakening demand in the U.S, the world’s biggest consumer of crude. Futures fell as much as 0.6 percent, dropping for the first time in four days. Oil’s gains stalled near the upper Bollinger Band, an indicator of technical resistance. Crude consumption declined 4 percent to 15.9 million barrels last week, the biggest percentage decrease in a month.

Gold declined for the first time in four days in London as a stronger dollar curbed demand for the metal as an alternative investment. Immediate-delivery bullion fell 0.3 percent to $1,607.05 an ounce by 11:18 a.m. in London. December-delivery futures were 0.2 percent lower at $1,609.90 on the Comex in New York.


Silver for immediate delivery fell 0.8 percent to $27.9225 an ounce. Silver traded lower following global leads. Silver for September delivery on the MCX was down 0.26 percent at 53,230 rupees per kg. Supported by hopes that Europe and the United States would launch more stimulus measures to help shore up their faltering economies. The rupee, which weakened on Wednesday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.


Benchmark copper on the London Metal Exchange (LME)slipped to $7,533 a ton at 0929 GMT, down 0.6 percent from close of $7,580 on Tuesday's when it hit a one-week intradayhigh.Putting pressure on metals prices was a drop in the euro against the dollar, after data showed German imports fell sharply for the second time in three months in June. The metal used in power and construction rose 3.5 percent over the last three days, its biggest three-day rally in more than a month, but is still almost 2 percent so far this quarter.

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economic data today | Stock tips 9 Aug | commodity tips


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