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Global stocks climb on trade, rate cut optimism; yuan falters


Added 06-10-19 05:03:02am EST - “Asian shares, European and U.S. stock futures rose on Monday after the United St...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Global stocks climb on trade, rate cut optimism; yuan falters”. Below is an excerpt from the article.

TOKYO/HONG KONG (Reuters) - Asian shares, European and U.S. stock futures rose on Monday after the United States shelved plans to impose tariffs on Mexico and as global investors hoped for lower U.S. interest rates on the back of lackluster jobs data.

Global investors had feared that opening up another trade conflict, while still battling with China, could tip the United States and other economies into recession. The Mexican peso rallied more than 2% on Monday.

But in China, the yuan slipped to its weakest this year after the country’s imports fell the most in nearly three years and as talks to end the Sino-U.S. dispute remained deadlocked.

In the stock market, European futures pointed to a higher open. Pan-region Euro Stoxx 50 futures rose 0.4%, London’s FTSE futures were up 0.5% and German DAX futures gained 0.6%.

Earlier, S&P500 mini futures rose as much as 0.8% and was last up 0.3%. The 10-year U.S. Treasuries yield was seen at 2.1223 percent, after hitting a 21-month low of 2.053 percent on Friday on soft U.S. jobs data.

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