Stocks start the week with declines; Rise in crude oil: market close


(Bloomberg) – Global stocks started the week on the back foot as investors prepared for the start of a profit season marked by unprecedented uncertainty about the impact on businesses of the coronavirus pandemic. Oil prices have soared after a historic deal to cut production.

US equity futures fell, while stocks posted losses in Japan, South Korea and China. Many markets remained closed for the Easter holidays. The dollar fell after OPEC + agreed to cut global crude oil production by 9.7 million barrels a day – just below the original plan of 10 million. The yen rose and the Australian dollar slipped. Treasury yields have changed little. A number of countries, including the United States, France, Germany, Italy and Spain, have reported a slowdown in new cases of coronavirus.

As the profit season kicks off for good this week, investors are hoping to gain a better understanding of how bad it could be for global profits as the coronavirus disrupts global economies. There is great uncertainty as to what the next few months will bring to businesses that will find it difficult to understand the situation and predict the future in the short term.

Meanwhile, without effective therapy and a vaccine against the new coronavirus, the US economy could face 18 months of consecutive shutdowns as the epidemic recedes and recurs, said Federal Reserve Bank of Minneapolis President Neel Kashkari .

Focus this week:

Banks and financial companies begin to publish their first quarter results, led by JPMorgan, Citigroup, Bank of America, BlackRock, Goldman Sachs and Wells Fargo. Bank Indonesia decision decision and briefing Tuesday. South Korea holds legislative elections and the Bank of Canada has a rate Also on Wednesday, retail sales in the United States are about to drop in March for the largest number ever. China to release GDP, industrial production, retail sales and unemployment figures on Friday

These are the main movements on the markets:


The S&P 500 futures contract fell 1.5% at 7:02 a.m. in London, while Japan’s Topix index fell 1.7%.


The yen rose 0.5% to 107.92 per dollar. The offshore yuan traded at 7.0567 for the dollar, down 0.1%. The euro was little changed at $ 1.0937.


The yield on 10-year treasury bills varied little at 0.71%.

Raw materials

West Texas Intermediate crude oil rose 4.2% to $ 23.72 a barrel. Gold lost 0.7% to $ 1,685 an ounce. “data-reactid =” 38 “> For more articles like this, visit us at

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