Newsquawk Rundown, Daily Podcast

European stocks drift higher as earnings remain in focus; sectors retain a cyclical biasChinese Ambassador to the US said China is prepared to negotiate with other countries for peaceful solution to South China Sea disputesFurther US coronavirus relief bill talks will take place today; US Treasury Secretary Mnuchin said he wants to have an understanding by end of the weekDXY dipped below 93.000, Antipodeans outperform, spot gold extends...

Asian equity markets traded mixed after the marginally firmer handover from Wall St amid the toing and froing in US COVID-19 relief discussionsCaixin Services PMI missed estimates and Caixin Composite PMI was lower than previous but both remained in firm expansionary territoryThe DXY continued to soften and sits just above the 93.00 level, EUR/USD reclaimed 1.18, GBP/USD sits just below 1.31Gold soared to unprecedented heights and broke...

Initial optimism across stocks faded; sectors hold a cyclical biasUS Senate could start the debate on the House-passed COVID-19 bill this afternoon, according to FoxHouse Speaker Pelosi said she hopes a deal could be made this week, although acknowledged that it will not probably occur until next weekRBA kept rates unchanged at 0.25% as expected and reiterated its forward guidance, but will purchase AGS...

European equity markets began the new trading month mixed following a similar lead from the APAC sessionWhite House Chief of Staff Meadows suggested there is still a long way to go in coronavirus relief negotiations and that he is not optimistic of reaching a long-term dealTrump administrations is reportedly mulling options for unilateral actions to address some of the economic fallout from the pandemic if no stimulus deal is reached;...

Asian equity markets began the new trading month mixed after last Friday’s positive close on Wall St where the tech sector ralliedUS President Trump said he may ban TikTok and is looking at a lot of alternatives for TikTokSource reports later stated that President Trump is to allow 45 days for ByteDance to negotiate the sale of TikTok to MicrosoftThe DXY was firmer around the 93.50 level as it extended on its rebound from fresh 2-year...

European bourses trade modestly firmer with US futures posting similar performance as fundamental newsflow is light going into month-endApple, Alphabet, Amazon and Facebook all beat on top and bottom lines in after-market releasesUS Treasury Secretary Mnuchin said we are going back to the negotiating table and that the best-case scenario is that a deal is made in the next few daysHong Kong Gov't announce the September legislative council elections are to be postponedUSD has firmed up...

Asian equity markets traded lacklustre heading into month-end after somewhat mixed Chinese PMI data with the region failing to take advantage of the momentum from USUS futures were boosted after-hours following big tech earnings in which Apple, Alphabet, Amazon and Facebook all beat on top and bottom linesDXY continued to weaken and extended its decline below the 93.00, EUR/USD briefly breached 1.1900 and GBP/USD remains above 1.3100US President Trump said he does not want a delay of 2020...

Sentiment has deteriorated throughout the morning with focus very much on the busiest day of earnings season for Europe & USWhite House Chief of Staff Meadows said we are nowhere close to a deal; talks expected to resume todayJohnson & Johnson (JNJ) - Single dose of the COVID-19 vaccine candidate demonstrates robust protection in pre-clinical studiesSeveral Hong Kong opposition candidates say they have been disqualified from running in legislative council electionsChina's...

Asian equity markets were mostly kept afloat as the region took advantage of the post-FOMC tailwinds from Wall Street and a busy earnings slateThe FOMC refrained from any policy adjustments as expected with Fed Chair Powell reiterating the Fed’s commitment to supporting the economyThe DXY heads into the EU open modestly firmer (sub 93.50), EUR/USD and GBP/USD pulled back from resistance around 1.1800 and 1.3000 respectivelyWhite House Chief of Staff Meadows said we are nowhere close to a deal...

Price action is tentative and largely directionless for European bourses after similar APAC session while US futures are marginally positiveDXY has slipped further after yesterday’s initial late-door pullback, with major peers firmer as such while UST yield curve is slightly steeperUS President Trump said there are some parts of the Republican coronavirus relief bill he does not support but didn’t specify which partsUS Senate Democratic Minority Leader Schumer said the business liability...