financetom
World
financetom
/
World
/
GLOBAL MARKETS-Stocks rise; dollar gets some support from tariff threats
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GLOBAL MARKETS-Stocks rise; dollar gets some support from tariff threats
Nov 26, 2024 1:01 PM

*

Mexican peso, Canadian dollar slide on threat of 25%

tariffs

*

Bitcoin loses ground, gold up slightly

*

Oil prices settle down after Israel-Lebanon ceasefire deal

(Updated prices in late afternOon ET)

By Sinéad Carew and Amanda Cooper

NEW YORK/LONDON, Nov 26 (Reuters) - The U.S dollar rose

against some currencies after U.S. President-elect Donald Trump

pledged to impose new tariffs on imports from Canada, Mexico and

China, while MSCI's global equity index was higher after the

release of the Federal Reserve's latest meeting minutes.

The minutes from the meeting earlier this month showed

officials divided over how much farther they may need to cut

interest rates, but in agreement about avoiding concrete

guidance.

"With the stock market, no surprises is good news. The

market likes certainty above anything else," said Burns

McKinney, portfolio manager at NFJ Investment Group in Dallas.

"Overall, Fed policymakers are still supportive of a careful

approach. ... They didn't say anything hawkish."

On Wall Street, at 3:11 p.m. (2011 GMT) the Dow Jones

Industrial Average rose 82.93 points, or 0.19%, to

44,819.50; the S&P 500 rose 26.92 points, or 0.45%, to

6,014.29; and the Nasdaq Composite rose 86.47 points, or

0.45%, to 19,141.31.

By late afternoon MSCI's gauge of stock markets across the

globe had also turned higher and was up 0.71

point, or 0.08%, to 858.46. Europe's STOXX 600 index

earlier closed down 0.57%.

While it was below its session high the dollar was still up

against the Mexican peso and Canadian dollar in

afternoon trading.

Trump, citing concerns over illegal immigration and illicit

drug trading, had said earlier that he would put a 25% tariff on

products from Mexico and Canada, and an additional 10% tariff on

goods from China. He had previously threatened to slap tariffs

in excess of 60% on Chinese imports.

But investors toned down their initial reactions to the

tariff threat and appeared to view it as a "negotiation tool,"

according to McKinney.

However, U.S. Treasury yields rose on Tuesday, as Monday's

sharp bond rally lost momentum as the tariff announcement undid

some of the investor optimism from Trump's selection late last

week of Scott Bessent as Treasury secretary.

The yield on benchmark U.S. 10-year notes rose

4.3 basis points to 4.306%, from 4.263% late on Monday while the

30-year bond yield rose 3.6 basis points to 4.4828%.

The 2-year note yield, which typically moves in

step with interest rate expectations, rose 0.6 basis point to

4.258%, from 4.252% late on Monday.

In currencies, the Mexican peso weakened 1.69%

versus the dollar and the Canadian dollar weakened 0.55%

versus the greenback.

While the euro was down 0.18% against the dollar at

$1.0475, against the Japanese yen, the dollar weakened

0.73% to 153.08.

Oil prices settled lower, slightly extending Monday's losses

in choppy trade after news of an agreement for a ceasefire

between Israel and Lebanon, reducing oil's risk premium.

U.S. crude settled down 0.25% at $68.77 a barrel and

Brent ended at $72.81 per barrel, down 0.27% on the day.

Bitcoin fell 2.06% to $91,758.00, adding to Monday's

losses after last week hitting a record high at $99,830. The

token had benefited from speculation of an easier regulatory

environment for cryptocurrencies under Trump.

In precious metals, gold prices were caught in a tug-of-war,

dipping to a week low as safe-haven demand softened with news of

the ceasefire, while concern over Ukraine and Trump's tariff

plans added some support.

Spot gold rose 0.18% to $2,629.86 an ounce while U.S.

gold futures rose 0.34% to $2,625.60 an ounce.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Equity Futures Mixed in Premarket Action as Traders Eye Friday's Inflation Data
US Equity Futures Mixed in Premarket Action as Traders Eye Friday's Inflation Data
Jun 24, 2024
08:51 AM EDT, 06/24/2024 (MT Newswires) -- US equity futures were mixed before Monday's opening bell as traders looked ahead to a key inflation metric due for release later in the week. Dow Jones Industrial Average futures increased 0.2%, S&P 500 futures was marginally declining, while Nasdaq futures slipped 0.2%. The Personal Income and Outlays Report, which includes the personal...
Asian Equities Traded in the US as American Depositary Receipts Rise in Monday Trading
Asian Equities Traded in the US as American Depositary Receipts Rise in Monday Trading
Jun 24, 2024
10:50 AM EDT, 06/24/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipt rose Monday morning with the S&P Asia 50 ADR Index gaining 0.59% to 1,939.47. From North Asia, the gainers were led by internet and data center service provider VNET Group ( VNET ) and automotive ecommerce platform TuanChe ( TC ) , which...
EMERGING MARKETS-Peso hits two-week high on Mexican inflation data
EMERGING MARKETS-Peso hits two-week high on Mexican inflation data
Jun 24, 2024
(Updated at 1408 GMT) * Brazil's Magalu up on partnership with China's Aliexpress * Peru c.bank raises 2024 economic growth forecast to 3.1% * Mexico's consumer prices rise in early June * MSCI indexes hit two-week highs * Latam stocks up 1.8%, FX add 1% By Johann M Cherian June 24 (Reuters) - Most Latin American equities and currencies climbed...
Impact From France's Parliamentary Election on Eurozone Government Bonds, Notes ABN Amro
Impact From France's Parliamentary Election on Eurozone Government Bonds, Notes ABN Amro
Jun 24, 2024
10:35 AM EDT, 06/24/2024 (MT Newswires) -- It has been a dramatic two weeks for the European debt market with French President Emmanuel Macron calling snap elections after his party's defeat in the European Parliament election against the far-right, noted ABN Amro. This created high political uncertainty and turmoil in the eurozone government bond (EGB) market but particularly in the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved