Energy companies are rising with the price of oil.
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Utility companies rose as bond yields fell, making the sector less appealing to investors seeking income. France’s CAC 40 also edged 0.1 percent higher, to 4,538.12.
“There’s nothing in this to tell us when the next rate hike is going to be”, Kelly said. A majority of analysts surveyed by Bloomberg predict the BOJ will boost its buying of exchange- traded funds on Thursday. USA futures indicated a lower opening on Wall Street, with the Dow and S&P futures both down 0.3 percent. The Shanghai Composite index was almost flat at 2,945.83.
Murphy Oil rose 88 cents, or 2.6 percent, to $34.39 and Devon Energy gained 72 cents, or 2.1 percent, to $34.67. Last year in December the US Federal reserve had increased the interest rates for the first time in 10 years, and had given indications regarding increasing interest rates at least twice in 2016. In the money market, the Chinese central bank auctioned seven-day bills to inject $18.48 billion (120 billion yuan) to keep the market liquid. Ahead of Thursday’s rate decision, official data released today showed that New Zealand’s trade deficit hit its highest level in nearly seven years in March due to plunging dairy prices.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.92 percent.
Japan’s benchmark Nikkei 225 lost 0.4 percent to 17,276.52. Analysts believe that high demand for gasoline has driven the recent rally in oil prices, which is likely to continue surging in coming month.
OIL: Benchmark U.S. crude jumped $1.36, or 3.2 per cent, to $44 per barrel in NY.
The Aussie, which hit a 10-month high of $0.7836 last week on the back of higher commodity prices, was down 1.5 percent at $0.7633. Truck maker Paccar gained $2.68, or 4.8 per cent, to $58.73.
Asian stocks ended a lackluster session mostly lower on Wednesday as the yen strengthened and weak earnings results from iPhone maker Apple put pressure on technology stocks. That hadn’t happened since iPhones went on sale in 2007.
Meanwhile, firms that provide parts for Apple products fell after the USA tech giant said that waning demand for its popular handset caused its first dip in revenue since 2003 and was likely to continue this year as China’s slowdown weighs.
Canon plummeted 5.3 percent on reporting a drop in Q1 profit and downgrading its full-year profit and sales forecasts.
Microblogging site Twitter dropped $2.89, or 16.3 percent, to $14.86 after its first-quarter revenue fell short of expectations and its outlook disappointed investors.
Earnings reports were responsible for much of the day’s action. Aerospace giant Boeing was the biggest gainer on the Dow average. The company reported mixed first-quarter results, with weaker-than-expected earnings but strong sales. The stock gave up $1.99, or 2.2 per cent, to $89.38. It also raised its projections for the year. Fortescue Metals Group dropped 2.2 percent after the iron ore miner said it would repay another $577 million of 2019 debt, saving $48 million in annual interest. Chipotle posted its first loss as a public company as sales plunged following an E. coli outbreak and Norovirus scare. Two current Yahoo directors won’t run for new terms. Copper lost 1 cent to $2.24 a pound. Chemicals maker DuPont rose 2.5 percent.
FRESH: Grocery store chain SuperValu jumped 40 cent, or 7.8 percent, to $5.55 after its profit surpassed estimates. Natural gas fell 4 cents, or 1.8 percent, to $2 per 1,000 cubic feet.
OVERSEAS: Britain’s FTSE 100 rose 0.4 percent and Germany’s DAX lost 0.2 percent.
ASIA’S DAY; Japan’s benchmark Nikkei 225 closed 0.4 percent to 17,290.49.
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Having risen to a three-week high against the yen late last week on talk that the Bank of Japan could ease policy further this week, the greenback was steady at 111.06 yen, with the BOJ due to release its statement just hours after the Fed. The euro rose to $1.1288 from $1.1261.
