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Global stocks were little changed on Monday as U.S. equity indexes rebounded from session lows despite a Bloomberg report China was set to reject a broad trade deal with the Trump administration, which sent the yuan sliding. European stocks gained and Treasuries fluctuated after Friday's generally favorable US jobs data quelled some fears about an economic slowdown.
Emini S&P index futures came off session lows but still pointed to a weak start on Wall Street after Bloomberg reported that senior Chinese officials have indicated the range of topics they’re willing to discuss at upcoming talks has narrowed considerably.
Stoxx - Europe - Index - Energy - Shares
The Stoxx Europe 600 index climbed as energy and telecoms shares advanced while the Stoxx 600 Automobiles & Parts Index fell as much as 1.4%, making it the worst-performing group on the broader gauge, with declines led by car-parts makers including Valeo, Continental and Faurecia. European shares rebounded from early negative prints after the latest drop in German industrial orders data (-6.7% Y/Y) underscored concerns about a looming recession in Europe’s largest economy.
Separately, morale among Eurozone investors dropped in October to its lowest level in more than six years as stimulus measures taken by central banks failed to allay recession fears, a survey by the Sentix research group showed. Besides the steady trickle of weak economic data, investors also had their eyes on U.S.-China trade talks. Bloomberg reported that Chinese officials are signaling they are increasingly reluctant to agree to a broad trade deal pursued by U.S. President Donald Trump.
Session - Stocks - Friday - Torrid - Wall
Earlier in the session, Asian stocks rallied following Friday's torrid Wall Street short-squeeze , with MSCI’s broadest index of Asia-Pacific Shares outside Japan rising 0.1%. Japan's Nikkei stock index opened higher but reversed course and fell 0.2%. A key Japanese economic index fell in August and the government downgraded its outlook for the economy to...
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