Market Snap: At the New York close: S&P 500 up 0.3% at 2081.90. DJIA up 0.15% at 17902.51. Nasdaq Comp up 0.8% at 4950.82. Treasury yields rose; 10-year at 1.895%. Nymex crude oil down 6.6% at $50.42. Gold down 0.6% at $1,203.10/ounce.
To receive this morning newsletter via email, click here: http://on.wsj.com/MoneyBeatAsiaSignup
How We Got Here: U.S. stocks close modestly higher, as traders pour over the minutes of the March meeting of the Fed's rate-setting committee, but for a second straight day, the major indexes bumped up against a ceiling.
The Fed minutes showed that the central bank's policy makers were divided about whether or not June was the right time to raise rates. Critically, though, this meeting occurred on the 17th and 18th, before the release of the March jobs report that did so much to change people's expectations.
Keep an eye on the numbers, too. On Tuesday, the S&P 500 rose as high as 2089, before falling back sharply in the afternoon. The Dow rose more than 100 points before doing the same. On Wednesday, the S&P 500 rose as high as 2087 before falling back, and the Dow again rose more than 100 points before doing the same. To us, being the amateur chart-watchers we are, that says the market's running into resistance at those levels, and it is that resistance rather than any news that is driving the market, right now at least.
Meanwhile, crude prices took a hard tumble, after the latest U.S. storage data showed a renewed build-up of stockpiles.
Coming Up: South Korea's central bank is set to hold its Monetary Policy Committee meeting on Thursday. The pressure is very strong on the Bank of Korea to announce another rate cut to follow last month's quarter-point cut with which it took its base rate down to 1.75%. The manufacturing sector is contracting again, domestic spending is weak and exports are waning.
What You Missed Overnight
Tsarnaev Convicted in Boston Marathon Bombing Case Dzhokhar Tsarnaev, a former college student who admitted he helped carry out the 2013 Boston Marathon bombings, was convicted Wednesday of a sweeping series of charges that sets the stage for the jury to decide if he should get the death penalty.
Fed Minutes: Officials Divided on June Rate Increase Federal Reserve officials were divided at their last policy meeting on whether they would be ready by June to begin raising short-term interest rates.
Shell to Buy BG Group for About $70 Billion Petroleum giant Royal Dutch Shell has agreed to buy BG Group for about $70 billion, in a deal that would create the world's largest independent producer of liquefied natural gas amid a historic downturn in energy prices.
U.S. Stocks End Higher After Fed Minutes U.S. stocks gained on Wednesday after Federal Reserve meeting minutes showed officials were divided about whether to raise interest rates in June.
Alcoa Swings to Profit on Revenue Growth Alcoa swung to first-quarter profit on revenue growth that mostly stemmed from strong volume in its divisions that make parts for the automotive and aerospace markets and a boost from stronger aluminum prices.
From The Wall Street Journal Asia
China to Build Pipeline From Iran to Pakistan China will build a pipeline to bring natural gas from Iran to Pakistan to help address Pakistan's acute energy shortage, under a deal to be signed during the Chinese president's visit to Islamabad this month, Pakistani officials said.
Hong Kong Stocks Hit Seven-Year High Cash flooded into Hong Kong's stock market Wednesday, sending the benchmark index soaring to its highest since 2008 and setting record trading volumes in the city.
Australia Feels Pressure Over Emergency Oil In the last line of defense against a global oil supply shock, Australia has long been the weakest link.
Alibaba Proposes Asset Injection for Ailing Film Arm Chinese e-commerce giant Alibaba Group on Wednesday proposed an injection of assets into its unprofitable movie arm, sending shares in the entertainment business soaring.
From MoneyBeat
Shell's BG Deal Is Huge, But Advisor Team Is Small The first few months of the year have seen a flurry of megadeals, and Royal Dutch Shell's deal for BG Group is biggest so far. But while the deals have been getting bigger, advisory teams have been getting smaller.
Howard Marks on the Importance of Luck in Investing It takes more than skill to beat the market. Howard Marks says successful investors also need good fortune.
Is an 'Earnings Recession' Upon Us? Is corporate America looking at an "earnings recession"? It's not inconceivable, although it also may not be quite as dreadful as it sounds, Brad McMillan, chief investment officer at Commonwealth Financial Network, explained this morning on the MoneyBeat show.
Apple Gets a Downgrade The Apple Watch won't be a game changer--not any time soon, anyway. That's the verdict from Societe Generale analysts Andy Perkins and Peter Knox.
Access Investor Kit for BG Group Plc
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=GB0008762899
Access Investor Kit for Royal Dutch Shell PLC
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=GB00B03MLX29
Access Investor Kit for Royal Dutch Shell PLC
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=GB00B03MM408
Access Investor Kit for BG Group Plc
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0554342032
Access Investor Kit for The Dow Chemical Co.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US2605431038
Access Investor Kit for Royal Dutch Shell PLC
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US7802591070
Access Investor Kit for Royal Dutch Shell PLC
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US7802592060
(END) Dow Jones Newswires
April 08, 2015 21:05 ET (01:05 GMT)
#FX
#Forex
#MoneyBeatAsia
#US_Stocks
#ModestGains
0 Response to "Morning Moneybeat Asia: U.S. Stocks Scratch Out Modest Gains"
Thanks for give comment.