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Bruised stocks find support as growth fears dent commodities

By Tom Westbrook and Sam Byford SINGAPORE/TOKYO (Reuters) - Global stocks and bonds headed for their first weekly gain in a month on Friday, with growth concerns tempered by hopes...
Bruised stocks find support as growth fears dent commodities © Reuters. FILE PHOTO: Men wearing protective masks amid the coronavirus disease (COVID-19) outbreak, use mobile phones in front of an electronic board displaying Japan's Nikkei index outside a brokerage in Tokyo, Japan June 16, 2022. REUTERS/Kim Kyung-Hoon

By Tom Westbrook and Sam Byford

SINGAPORE/TOKYO (Reuters) - Global stocks and bonds headed for their first weekly gain in a month on Friday, with growth concerns tempered by hopes that sliding commodity prices can help brake runaway inflation.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.4% on Friday, helped by short sellers bailing out of Alibaba (NYSE:BABA) - which rose nearly 7% - amid hints that China's technology crackdown is abating.

Japan's Nikkei rose 1.2% for a 2% weekly gain, while S&P 500 futures extended overnight gains by 0.76%. EuroSTOXX 50 futures rose 1% and FTSE futures rose 0.6%.

The week has been marked by steep declines for commodities on worries that the world economy is looking shaky and that interest rate hikes will hurt growth - which in turn is also prompting traders to pare back some bets on the size of rate hikes.

Copper, a bellwether for economic output with its wide range of industrial and construction uses, is heading for its steepest weekly drop since March 2020. It fell in Shanghai on Friday and is down about 8% on the week.

Oil is also headed for a weekly loss. Brent crude futures are down 2.5% on the week to $110.35 a barrel, while benchmark grain prices sank with Chicago wheat off more than 8% for the week. [O/R][GRA/]

The falls have made for some relief in equities since energy and food have been the drivers of inflation. After heavy recent losses, MSCI's World equities index is up 2.3% this week, setting it up for the first weekly gain since May.

"While market worries about an abrupt slowdown are the culprit behind recent moves lower in raw materials prices, lower commodity prices do feel like they could be just what the doctor ordered for the global economy," said NatWest markets strategist Brian Daingerfield.

"So much of our hard landing fears relate to concerns that link back to commodity prices."

Soft data through this week has been to blame.

Gauges of factory activity in Japan, Britain, the euro zone and United States all softened in June, with U.S. producers reporting the first outright drop in new orders in two years in the face of slumping confidence.

Bonds rallied hard on hopes the bets on aggressive rate hikes would have to be curtailed, with German two-year yields down 26 basis points on Thursday in their biggest drop since 2008. [GVD/EUR]

The benchmark 10-year Treasury yield fell 7 bps on Thursday and was steady at 3.0908%. [US/]

The U.S. dollar has slipped from recent highs, but not too far as investors remain cautious. It was last fairly steady at $1.05395 per euro and bought 134.73 yen. [FRX/]

The battered yen has steadied this week and drew a little support on Friday from Japanese inflation topping the Bank of Japan's 2% target for a second straight month, putting more pressure on its ultra-easy policy stance.

European Central Bank and Federal Reserve speakers will be watched closely later in the day, as will British retail sales data and German business confidence. Beyond that, the main worry is what it all means for company performance.

"Second quarter earnings reports will send shockwaves to the market as the earnings outlook hasn't deteriorated materially so far, and that will further build concerns of a recession," said Charu Chanana, market strategist at brokerage Saxo in Singapore.

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08-07-2022 00:49:20 (UTC+7)

EUR/USD

1.0153

-0.0028 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

EUR/USD

1.0153

-0.0028 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

GBP/USD

1.2002

+0.0072 (+0.60%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

USD/JPY

136.04

+0.12 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (2)

AUD/USD

0.6836

+0.0060 (+0.89%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (3)

USD/CAD

1.2987

-0.0050 (-0.38%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (3)

EUR/JPY

138.13

-0.23 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

EUR/CHF

0.9894

+0.0014 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (2)

Gold Futures

1,738.95

+2.45 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Silver Futures

19.168

+0.009 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Copper Futures

3.5555

+0.1475 (+4.33%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

Crude Oil WTI Futures

103.56

+5.03 (+5.11%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (4)

Sell (2)

Brent Oil Futures

105.37

+4.68 (+4.65%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (4)

Natural Gas Futures

6.190

+0.680 (+12.34%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

US Coffee C Futures

218.53

-0.67 (-0.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

3,488.50

+66.66 (+1.95%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

S&P 500

3,895.54

+50.46 (+1.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

DAX

12,843.22

+248.70 (+1.97%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (2)

Sell (3)

FTSE 100

7,189.08

+81.31 (+1.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

21,643.58

+56.92 (+0.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,768.30

+38.06 (+2.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

IBEX 35

8,122.50

+173.90 (+2.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

BASF SE NA O.N.

41.300

+1.550 (+3.90%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

56.59

+0.40 (+0.71%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (4)

Allianz SE VNA O.N.

178.46

+2.96 (+1.69%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (2)

Adidas AG

169.28

+4.74 (+2.88%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Deutsche Lufthansa AG

5.764

+0.254 (+4.61%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

97.71

+1.66 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

7.983

+0.295 (+3.84%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

 EUR/USD1.0153↑ Sell
 GBP/USD1.2002↑ Sell
 USD/JPY136.04↑ Buy
 AUD/USD0.6836Neutral
 USD/CAD1.2987Neutral
 EUR/JPY138.13↑ Buy
 EUR/CHF0.9894↑ Buy
 Gold1,738.95↑ Sell
 Silver19.168↑ Sell
 Copper3.5555↑ Sell
 Crude Oil WTI103.56Neutral
 Brent Oil105.37↑ Sell
 Natural Gas6.190↑ Sell
 US Coffee C218.53↑ Sell
 Euro Stoxx 503,488.50↑ Sell
 S&P 5003,895.54↑ Buy
 DAX12,843.22Neutral
 FTSE 1007,189.08↑ Sell
 Hang Seng21,643.58↑ Buy
 Small Cap 20001,768.30↑ Buy
 IBEX 358,122.50↑ Buy
 BASF41.300↑ Buy
 Bayer56.59Sell
 Allianz178.46Buy
 Adidas169.28↑ Buy
 Lufthansa5.764↑ Buy
 Siemens AG97.71↑ Buy
 Deutsche Bank AG7.983↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,765/ 6,825
(0/ 0) # 1,893
SJC HCM6,785/ 6,845
(0/ 0) # 1,914
SJC Hanoi6,785/ 6,847
(0/ 0) # 1,916
SJC Danang6,785/ 6,847
(0/ 0) # 1,916
SJC Nhatrang6,785/ 6,847
(0/ 0) # 1,916
SJC Cantho6,785/ 6,847
(0/ 0) # 1,916
Cập nhật 08-07-2022 00:49:22
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ↀ Giá vàng thế giới
$1,740.21-24.71-1.40%
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Sản phẩmVùng 1Vùng 2
RON 95-V33.36034.020
RON 95-III32.76033.410
E5 RON 92-II30.89031.500
DO 0.05S29.61030.200
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Dầu hỏa 2-K28.35028.910
ↂ Giá dầu thô thế giới
WTI$100.94-5.19-5.42%
Brent$103.96-5.13-5.19%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.180,0023.490,00
EUR23.177,9524.476,02
GBP27.204,7528.365,03
JPY166,93176,72
KRW15,5318,93
Cập nhật lúc 18:49:11 07/07/2022
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