In Asian Equity Markets the Nikkei 225 traded higher by 0.4 percent, with the iron and steel sector leading gains in early trade: JFE Holdings rose 3.37 percent and Nisshin Steel rallied 2.6 percent. Automakers were higher for the most part, but Mitsubishi Motors fell 2.91 percent despite reporting expectation-topping earnings in the previous session. In Seoul, the Kospi slipped into negative territory as large cap technology stocks turned lower, with Samsung Electronics inching down by 0.11 percent.
In Currency Markets the US dollar and euro barely moved on Wednesday, ahead of a meeting between U.S. President Donald Trump and European Commission President Jean-Claude Juncker at a time investors are focused on the trade rift between the two economic powers. The dollar index against a basket of major currencies stood little changed at 94.651, off its two-week low of 94.207 hit on Monday. The single currency was trading nearly flat at $1.1678. Against the yen, the dollar was 0.1 percent higher at 111.32 yen per dollar.
In Commodities Markets oil prices rose for a second day on Wednesday after industry group data showed U.S. crude inventories fell more than expected last week, easing worries about oversupply that had dragged on markets in recent sessions. Brent crude was up 54 cents, or 0.7 percent, at $73.98 a barrel. The global benchmark settled 38 cents higher at $73.44 a barrel on Tuesday, after climbing to as high as $74. U.S. West Texas Intermediate rose 24 cents, or 0.4 percent, to $68.76, having settled the previous session up 63 cents, or nearly 1 percent.
In US Equity Markets the S&P 500 and Dow Industrials rose on Tuesday as Alphabet’s blowout results bolstered expectations of a robust earnings season, though a decline in the Nasdaq pointed to lingering concerns over trade tensions. Earlier in the session, the benchmark S&P 500 index touched its highest level since Feb. 1. Alphabet Inc shares jumped to a record high of $1,275.00 after the online search company’s quarterly results surpassed Wall Street estimates. The S&P 500 gained 0.34 percent, to 2,816.63. Nasdaq Composite ended flat.
In Bond Markets the highest short-term yields in a decade helped the government sell $35 billion in two-year notes on Tuesday, bringing the yield curve down from its steepest levels in three weeks. The auction drew the strongest demand since January for the notes, which sold at a yield of 2.657 percent, the highest since 2008. The U.S. government will also sell $36 billion in five-year notes on Wednesday and $30 billion in seven-year notes on Thursday.