Asian Morning Briefing: U.S. Stocks End Higher

                       LAST    CHANGE   % CHG
DJIA                  18036.7    59.66   0.33%
Nasdaq                4977.29   -10.96  -0.22%
S&P 500               2095.84     3.41   0.16%
Japan: Nikkei 225    19908.68     3.22   0.02%
Hang Seng            27561.49  -454.85  -1.62%
Shanghai Composite    4135.57    13.85   0.34%
S&P BSE Sensex       29044.44   165.06   0.57%
Australia: S&P/ASX     5946.6    -13.7  -0.23%
UK: FTSE 100          7075.26    10.96   0.16%


                    PRICE CHG  YIELD
U.S. 2 Year              2/32  0.504
U.S. 5 Year              5/32  1.337
U.S. 10 Year             9/32    1.9
Australia 10 Year       10/32  2.317
China 10 Year            8/32   3.67
India 10 Year            2/32    7.8
Japan 10 Year            6/32  0.324
German 10 Year           6/32   0.14


                          LAST(MID)  CHANGE
Australia $ (AUD/USD)        0.7626  0.0037
Yen (USD/JPY)                 119.4   -0.72
S. Korean Won (USD/KRW)     1092.25   -9.39
Chinese Yuan (USD/CNY)       6.2119  -0.006
Euro (EUR/USD)               1.0655  0.0086
WSJ Dollar Index              87.69   -0.63


               LAST   CHANGE  % CHG
Crude Oil      53.71     1.8   3.47%
Brent Crude    60.26    1.22   2.07%
Gold          1192.1    -7.2  -0.60%

        MARKETS AT A GLANCE

        (Data as of approximately 5 p.m. ET)

        SNAPSHOT:

        U.S. stocks ended higher Tuesday, buoyed by a rebound in oil prices and a handful of positive first-quarter earnings reports. Treasurys rose and the dollar fell against the euro and yen on disappointing U.S. retail sales. Gold fell amid speculation over the timing of the Federal Reserve's interest-rate increases.

        OPENING CALL:

        China on Wednesday will release its first-quarter GDP figure and several pieces of March data. This monthly data dump is likely to include further signs that China's once super-charged economy is slowing. The idea that first-quarter GDP growth could slip below 7% is especially striking, but so too is the weakness in foreign direct investment and sluggish state of retail sales. Fixed asset investment remains reasonably strong but it's all coming from domestic sources, it seems, which means it potentially reflects an extension of a debt-fueled speculative bubble.

        EQUITIES:

        U.S. stocks ended higher, buoyed by a rebound in oil prices and a handful of positive first-quarter earnings reports.

        Energy stocks pulled ahead of the broader market, as crude prices rose for the fourth straight session. But trading volumes remained relatively muted, as investors awaited additional quarterly updates from companies in the weeks ahead.

        The Dow Jones Industrial Average gained 59.66 points, or 0.3%, to 18036.70. The S&P 500 gained 3.41 points, or 0.2%, to 2095.84. The Nasdaq Composite Index slipped 10.96, or 0.2%, to 4977.29.

        Energy stocks in the S&P 500 rose 1.8%, benefiting from the recent rebound in oil prices. U.S. crude futures gained 2.7% to $53.29 a barrel, their third-highest settlement price of this year. Oil prices have risen 12% this month, though they are still down 48% from a year ago following a monthslong tumble.

        "A lot of people are starting to poke around" in the energy sector, said Michael Antonelli, an equity sales trader at Robert W. Baird in Milwaukee. "You've got people digging."

        Chevron shares posted the biggest gain in the Dow, rising 2.2% and contributing 16 points to the index's rise.

        Stocks in Hong Kong fell Tuesday for the first time in eight days, with investment from the mainland quickly cooling from record-high levels.

        FOREX:

        The dollar fell against the euro and the yen on lower-than-expected U.S. retail sales in March, signaling that consumer demand remains too weak to give the economy a boost.

        The euro increased 0.8% to $1.0649 in late-afternoon trade, though it remains near 12-year lows against the U.S. currency. The dollar slid 0.6% against the yen, dropping to Y119.44, on pace for the lowest close in a week. The Wall Street Journal Dollar Index, which compares the dollar against a basket of widely traded currencies, has fallen 0.7% to 87.72.

        "We're seeing dollar selling as people are pushing back expectations for the first interest-rate move, and weak data exacerbates this," said Christian Lawrence, senior market strategist at Rabobank. Investors are re-establishing their dollar bets when prices dip, "and when the profit-taking is done, they're going long on the dollar again."

        BONDS:

        Fresh worries over the pace of U.S. economic growth sent investors piling into ultrasafe Treasury bonds, pushing the yield on the benchmark 10-year note below 1.9% during Tuesday's session.

        The smaller-than-forecast 0.9% rise in retail sales for March added to a pile of disappointing U.S. releases over the past month, further bolstering bond buyers' expectations that the Federal Reserve wouldn't be in a hurry to raise borrowing costs.

        Investors have been concerned that higher interest rates from the Fed could shrink the value of outstanding bonds. But as fear about a rate increase this summer has diminished, trading in the bond market has become less jumpy. A closely watched gauge of volatility on Tuesday fell to a three-month low, a sign investors don't expect bond yields to jump.

        "With the absence of any surprises in the inflation or growth indicators to the upside, the Fed will have to reluctantly stay on hold for now," said Mark MacQueen, co-founder and portfolio manager in Austin, Texas, at Sage Advisory Services, which oversees $11 billion in assets. "The bond market is not worried about an imminent Fed tightening."

        COMMODITIES:

        Oil prices rose for a fourth straight session on fresh signs that U.S. oil production is nearing a peak.

        Crude-oil production in North Dakota fell for the second straight month in February, the North Dakota Industrial Commission's Department of Mineral Resources said. Production averaged 1.18 million barrels a day in the month, down from the record high of 1.23 million barrels a day reached in December.

        The number of rigs drilling for oil and gas in North Dakota has fallen to 91, the lowest level since January 2010, the department said.

        North Dakota has been a key region for the U.S. shale-oil boom, which has pushed domestic oil production to multi-decade highs in recent years.

        Light, sweet crude for May delivery settled up $1.38, or 2.7%, to $53.29 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 50 cents, or 0.9%, to $58.43 a barrel on ICE Futures Europe.

        Gold prices fell as investors reduced their holdings of the metal amid speculation over the timing of the Federal Reserve's interest-rate increases.

        TODAY'S HEADLINES:

        Japan Court Halts Restart of Two Nuclear Reactors

        A Japanese court cited safety concerns in ordering a halt to plans to restart two nuclear reactors, slowing progress toward a return to nuclear-generated electricity in Japan.

        China Expands in Disputed Islands

        China is expanding two islands it controls in the disputed Paracel Islands, east of Vietnam, satellite imagery shows, even as it builds seven new islets in the South China Sea.

        Major Shareholder Argyle Mulls Cash Offer for Asia Resource Minerals

        A firm backed by one of Asia Resource Minerals' largest shareholders confirmed it is considering making a cash offer for the troubled U.K.-listed Indonesian coal miner and urged shareholders to vote down a current recapitalization in favor of its own proposal.

        Intel Reports 3% Rise in Earnings

        Intel reported 3% growth in 1Q earnings to $1.99 billion, or 41 cents a share, as softer demand for personal computers was offset in part by growth in its data-center business. Shares rise 2% late.

        EU to File Antitrust Charges Against Google

        Europe's antitrust regulator has decided to file formal charges against Google for violating the bloc's antitrust laws, a person familiar with the matter said, stepping up a five-year investigation that is set to become the biggest competition battle in Brussels since the European Union's pursuit of Microsoft a decade ago.

        Nokia, Alcatel-Lucent Could Announce Merger This Week

        Nokia could strike a long-sought agreement to purchase French rival Alcatel-Lucent as early as this week, according to people familiar with the matter.

        Wall Street Rebounds for Banks in First Quarter

        Wall Street staged a comeback in the first quarter, as trading and investment-banking businesses shone as bright spots in the earnings of the country's two most valuable banks, J.P. Morgan Chase and Wells Fargo.

        U.S. Retail Sales Up 0.9% in March

        Sales at retailers and restaurants increased 0.9% last month. That was the biggest monthly gain in a year, but was weaker than economists expected. Economists expected total sales would rise 1.1% in March.

        Obama to Remove Cuba From Terror List

        President Barack Obama backed lifting Cuba from the list of state sponsors of terror in a widely expected move that further advances normalizing ties between Havana and Washington.

        Avon Exploring Strategic Alternatives

        Avon Products is said to be exploring strategic alternatives for the company, including a possible sale of its struggling North America business.

        RECENT DJ EXCLUSIVES:

        Castleton Emerges as Leading Bidder for Morgan Stanley Oil Business

        Gaming and Leisure Properties Raises Bid for Pinnacle's Real Estate

        J.P. Morgan Chases Wells Fargo's Profitability -- Heard on the Street

        J&J's Drug Treatment for the Dollar -- Heard on the Street

        Don't Overlook Netflix's Bigger Picture -- Ahead of the Tape

        TODAY'S CALENDAR

        (Times in GMT, followed by country and event)

        2245 NZ Mar Food Price Index

        2300 SKA Mar Economically Active Population Survey, incl Unemployment

        0000 US FRB Minneapolis President Narayana Kocherlakota speaks at Winona State University

        0030 AUS Apr Westpac - Melbourne Institute Consumer Sentiment Survey

        (MORE TO FOLLOW) Dow Jones Newswires

        April 14, 2015 17:30 ET (21:30 GMT)

        0200 CHN Mar Retail sales
        0200 CHN Mar Fixed Assets Investment
        0200 CHN Q1 GDP
        0200 CHN Mar Industrial Output
        0200 CHN Mar FDI Foreign Direct Investment
        0300 SKA Mar Revised trade data
        0400 INA Mar Trade Balance
        0430 JPN Feb Revised Industrial Production
        0500 SIN Feb Retail Sales
        0600 GER Mar CPI
        0645 FRA Mar CPI
        0800 HK Mar Hong Kong port container throughput monthly estimates
        0800 FRA Apr IEA Oil Market Report
        0900 EU Feb Foreign trade
        1100 US 04/10 MBA Weekly Mortgage Applications Survey
        1145 EU EU interest rate announcement
        1230 CAN Feb Monthly Survey of Manufacturing
        1230 US Apr Empire State Manufacturing Survey
        1300 US Feb Treasury International Capital Data
        1300 US IMF Global Financial Stability Report main chapters published
        1315 US Mar Industrial Production & Capacity Utilization
        1400 US Apr NAHB Housing Market Index
        1400 CAN Bank of Canada interest rate announcement
        1430 US 04/10 EIA Weekly Petroleum Status Report
        1530 US IMF Fiscal Monitor published
        1630 US World Bank Latin America and Caribbean Chief Economist Semi Annual Report
        1800 US U.S. Federal Reserve Beige Book
        2301 UK Mar RICS Residential Market Survey
        2330 US FRB Richmond President Jeffrey Lacker speaks in Charleston, SC
        (END) Dow Jones Newswires
        April 14, 2015 17:30 ET (21:30 GMT)

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