Nikkei rises as weak yen helps mood; Eisai soars

Japan’s Nikkei rose on Friday as a weaker yen supported sentiment, with the pharmaceutical sector leading gains after a report that Eisai moved forward its mid-term profit goal by one year.

The Nikkei share average was up 0.4 percent at 22,488.68 points by the midday break. For the week, the benchmark index has risen 1 percent.

The dollar is comfortably staying above 111 yen, after gaining nearly 0.7 percent against the Japanese currency after the U.S. Federal Reserve’s minutes showed officials discussed raising rates soon.

Eisai Co rose 1.9 percent, after the Nikkei business daily reported that the drugmaker is expected to post an operating profit of 102 billion yen ($ 923.16 million) in the year ending March 2020, moving one year forward its mid-term business plan.

The broader Topix advanced 0.4 percent to 1,704.08.

As expected, Sino-U.S. trade talks ended on Thursday with no major breakthrough as the two sides escalated their trade war, activating more tariffs on each country’s goods.

Many trade-reliant Asian economies are worried they will suffer collateral damage if the dispute drags on and disrupts Chinese demand.

Source: Reuters

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U.S. stocks stage rebound as oil-related rally helps equities shake off Italian angst

U.S. stocks rose on Wednesday, with the main indexes recovering half of the sharp losses from the previous session amid a run-up in oil prices and energy-related shares.

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Investors also appeared to shrug off the risk that Italy’s latest political drama posed to global markets, a day after news of a possible election sent global markets reeling.

The Dow Jones Industrial Average rose 230 points, or 0.9%, to 24,581, following Tuesday’s 392-point drop. Shares of Exxon Mobil Corp. and Chevron Corp. were among the blue-chip gauge’s best performers amid reports that the oil producers led by OPEC may not soon add ramp up output.

The S&P 500 added 28 points, or 1%, to 2,717 with all 11 main sectors trading higher. Energy shares led the gains, up 3% thanks to rising oil prices. Health-care and financials shares were up more than 1%.

The Nasdaq Composite advanced 62 points, or 0.8%, to 7,457.

The Russell 2000 index of small stocks hit an all-time high, rising 23 points, or 1.5%, to 1,647.

Global equities and other so-called risk assets found their footing Wednesday, as traders work out what Italy’s politicians might deliver next. Italy’s stocks and bonds, as well as the euro, are all in recovery mode.

Source: Marketwatch

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Dow futures up nearly 100 points as Trump helps ease trade-war fears

Dow futures rose Monday, indicating stocks may be ready to pick up where they left off last week, with a renewed boost coming from signs of a thaw in U.S.-China relations.

Another win for the Dow Jones Industrial Average would mark its eighth-straight advance, the longest positive streak since one that ended Sept. 20, 2017.

Among Federal Reserve speakers in the spotlight Monday, Cleveland Fed President Loretta Mester in a speech in Paris said the central bank may need to raise interest rates above 3%.

Dow Jones Industrial Average futures jumped by 85 points, or 0.3%, to 24,908, while those for the S&P 500 rose 5.60 points, or 0.2%, to 2,735. Nasdaq-100 futures climbed 19.75 points, or 0.3%, to 6,979.25.

Source: Marketwatch

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