US stock futures rise, USD fluctuates

Financial markets started the new trading week mixed on March 24, with US stock futures rising but the dollar wavering after a week full of data, Chinese corporate earnings reports and concerns about looming tariff hikes.

S&P 500 futures rose about 0.6% in morning trading in Asia, and Nasdaq 100 futures rose 0.8%.

Futures contracts rise

S&P 500 futures rose about 0.6% in morning trading in Asia, and Nasdaq 100 futures rose 0.8%. Japan's Nikkei (N225) and Hong Kong's Hang Seng (HSI) both rose about 0.2%.

The euro eased slightly last week, rising about 0.2% to $1.0835 in early trading. In emerging markets, the Turkish lira was on the verge of weakening as the arrest of President Tayyip Erdogan’s main rival rattled investors.

Shares of James Hardie (JHX.AX), an Australian-listed fiber cement maker, fell 12% after the company announced it would buy U.S. outdoor building products maker AZEK Company (AZEK.N) for $8.8 billion in cash and shares.

This week will see global PMIs, the US Federal Reserve's preferred inflation gauge, inflation data from Australia and Japan, a budget update in the UK and big earnings reports from China.

However, news of US President Donald Trump’s plans to impose global tariffs starting April 2 is likely to be a catalyst for markets. After a volatile month for stocks, bonds and currencies, analysts say it is difficult to predict what clear trades lie ahead.

“ It’s really hard to put a structured strategy together ,” said Chris Weston, head of research at Australian forex broker Pepperstone. “ You have to put yourself in the shoes of consumers and households, ” said Chris Weston, as concerns about a slowdown in the world’s largest economy have led to weeks of selling in the dollar and stocks, and a surge in U.S. government bonds.

“ We would get a little worried when there are factors that point to a higher likelihood of recession, a higher likelihood of a stagflationary environment… or when price pressures are not transitory .”

President Donald Trump has pledged to impose a complex set of tariffs next week, the details of which are still unclear, other than that they will be calculated to reflect the impact of foreign tariffs as well as value-added taxes on imported goods.

The S&P 500 (SPX) got a small boost on March 21 after President Donald Trump hinted at flexibility, but after a tumultuous first two months, traders have shown little appetite for betting that the president would be willing to cut a deal.

10-year US Treasury yield falls

The yield on the 10-year US Treasury note has fallen nearly 40 basis points from its mid-February high and is now stable at 4.27%. Investors have temporarily abandoned the US stock market and shifted capital to foreign markets, causing Hong Kong (China) and European stocks to rise sharply while Wall Street weakened.

Shares in Hong Kong have risen 18% so far this year, the biggest gain of any major market, but a 4.4% drop over the past two sessions suggests money has paused while traders weigh their next moves — and those of President Donald Trump.

Earnings from automaker BYD (002594.SZ), video platform Kuaishou (1024.HK), Chinese banks and several property developers will be in focus. In the U.S., U.S. discount retailer Dollar Tree (DLTR.O) and high-end sportswear maker Lululemon are also on the schedule.

Gold prices neared last week's record high, trading at $3,021 an ounce, while bitcoin held steady at $85,860.

“ Cash and safe havens remain the counterweight to any major strategic shifts ,” Bob Savage, head of macro strategy at BNY , said in a note to clients. “ We expect a series of diplomatic meetings to avert extreme tariffs, but not in April. This leaves concerns about President Donald Trump’s policy shifts to continue to rattle markets amid economic uncertainty .”

This week will see global PMIs, the US Federal Reserve’s preferred inflation gauge, inflation data from Australia and Japan, a budget update from the UK and big earnings reports from China. However, news of US President Donald Trump’s plans to impose global tariffs from April 2 is likely to be the market-moving factor.

Minh Hien

According to Reuters

Source: https://congthuong.vn/hop-dong-tuong-lai-chung-khoan-my-tang-usd-dao-dong-379705.html