Overnight Markets And News
Jun E-mini S&Ps (ESM18 +0.10%) this morning are up +0.06% at a 3-week high as a rally in crude oil prices to a new 3-1/2 year high bolsters energy stocks. Jun WTI crude oil (CLM18 +0.52%) is up +0.51% at a fresh 3-1/2 year high on heightened Middle East tensions after Israel said it struck dozens of Iranian targets inside Syria after missiles were fired by Iranian forces at the Golan Heights. European stocks are down -0.35% as the formation of a populist government in Italy moves closer to fruition. Trading activity throughout Europe is muted as some countries are closed for the Ascension Day holiday. As expected, the BOE kept its benchmark interest rate unchanged at 0.50% and maintained its asset purchase target at 435 billion pounds at the end of today's policy meeting. Asian stocks settled mostly higher: Japan +0.38%, Hong Kong +0.89%, China +0.48%, Taiwan +0.53%, Australia +0.18%, Singapore -0.31%, South Korea +0.92%, India -0.21%. China's Shanghai Composite climbed to a 3-1/2 week high on strength in energy stocks with the rally in crude oil to a 3-1/2 year high, along with reduced geopolitical risks on the Korean peninsula after North Korea released three American prisoners.
The dollar index (DXY00 -0.16%) is down -0.17%. EUR/USD (^EURUSD +0.27%) is up +0.22%. USD/JPY (^USDJPY-0.06%) fell back from a 1-week high and is down -0.06% as the yen strengthened after BOJ Governor Kuroda said the BOJ has no plans to conduct another comprehensive assessment of monetary easing.
Jun 10-year T-note prices (ZNM18 +0-045) are up +4 ticks as turmoil in the Middle East boosts safe-haven demand for government debt.
UK Mar industrial production rose +0.1% m/m, weaker than expectations of +0.2% m/m. Mar manufacturing production fell -0.1% m/m, better than expectations of -0.2% m/m.
China Apr CPI rose +3.4% y/y, right on expectations. Apr PPI rose +1.8% y/y, weaker than expectations of +1.9% y/y.
The Japan Apr eco watchers survey outlook rose +0.5 to 50.1, stronger than expectations of +0.3 to 49.9. The Apr eco watchers current survey rose +0.1 to 49.0, right on expectations.
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