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Global Markets: U.S. stock futures up, oil down on hopes Syria attack a one-off

Reuters  |  SYDNEY 

By Wayne Cole

SYDNEY (Reuters) - U.S. stock futures firmed and fell on Monday as investors wagered the latest U.S.-led strike on would not escalate into a wider conflict, though Asian markets turned mixed as selling in slugged Chinese indexes.

EMini futures for the rose right from the start and were last up 0.4 percent, while futures added 0.27 percent.

Japan's Nikkei rose 0.3 percent. Yet MSCI's broadest index of shares outside slipped 0.4 percent as Chinese blue chips skidded 1.7 percent.

and financial firms led the declines as Chinese authorities continue to tighten the screws on riskier types of financing in a bid to reduce systemic risks.

The early mood had been one of relief that the well-telegraphed attack on had been limited in scale.

The United States, and Britain launched 105 missiles targeting what the said were three in in retaliation for a in Douma on April 7.

Russian warned on Sunday that further Western attacks on would bring chaos to world affairs, as prepared to increase pressure on with new economic sanctions.

But with declaring mission accomplished, investors assumed the worst had been avoided.

"Trump was able to enforce his without crossing the threshold for Russian retaliation," analysts at said in a note.

"Stocks were concerned about a prolonged and expanded U.S. campaign towards and that doesn't look probable."

Safe-haven assets eased slightly in response, with yields on U.S. 10-year Treasury debt up two basis points at 2.84 percent.


The dollar failed to hold its early gains on the yen and eased to 107.20, though that was still up on last week's low around 106.62.

Dealers were keeping a wary eye on Japanese politics after a survey showed support for had fallen to 26.7 percent, the lowest since he took office in late 2012.

Abe's sliding ratings are raising doubts over whether he can win a third ,three-year term as ruling in a September vote, or whether he might even resign before the party election.

The euro was steady at $1.2330, while the dollar index eased a touch to 89.781.

In commodity markets, gold was steady around $1,345.60 an ounce, still well short of last week's peak at $1,365.23.

prices slipped with Brent crude futures off 69 cents at $71.89 a barrel, while U.S. crude fell 54 cents to $66.85.

Looking ahead, the U.S. earnings season swings into high gear this week with data predicting profits at companies increased by 18.6 percent in the first quarter from a year ago, their biggest rise in seven years.

Yet with expectations so high, ran into profit-taking on Friday after a batch of mixed results.

In Asia, reports its for the first quarter on Tuesday, with market forecasts clustered around growth of 6.7 percent to 6.8 percent.

That pace would suggest has largely sustained its growth momentum from late last year despite crackdowns on riskier financing and industrial pollution, even as investors fret over the risk of a trade war with the

The reports later on Monday and there are around 15 Federal Reserve speakers in the diary for the week.

Also this week, the IMF will hold its spring meetings of central bankers and ministers in

(Editing by Shri Navaratnam, and Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 11:48 IST