Asian Stocks Climb to One-Year High as Commodity Producers Gain

Asian stocks climbed, trading at the highest level in a year, after U.S. shares regained records and a rally in crude futures bolstered commodity producers.

The MSCI Asia Pacific Index rose 0.1 percent to 139.98 as of 9:05 a.m. in Tokyo. Japan’s Topix index increased 0.1 percent as the yen fluctuated against the dollar. Asian stocks have climbed 24 percent from their February low as lackluster data on the world’s biggest economies fuels speculation central banks will continue to support them with stimulus and loose monetary policy. The odds the Federal Reserve will raise rates this year remains below 50 percent.

The S&P 500 Index climbed 0.3 percent on Monday, regaining an all-time high and pushing valuations to 18.6 times estimated earnings. That compares with 14.3 times for the MSCI Asia Pacific Index, data compiled by Bloomberg showed.

Source : Bloomberg

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S&P 500 Retreats From All-Time High as Corporate Earnings Weigh

The S&P 500 Index slipped from a record as investors were circumspect on the prospects for further gains following a mix of corporate earnings reports.

The recent record run for equities hit some headwinds as Netflix Inc. tumbled 14 percent after subscriber growth disappointed, and Philip Morris International Inc. dropped 3.5 percent after its earnings missed forecasts as the strong dollar hurt sales outside of the U.S. Johnson & Johnson provided some offset, climbing 1.5 percent after its quarterly profit beat estimates.

The S&P 500 Index declined 0.2 percent to 2,161.63 at 12:49 p.m. in New York, after the gauge closed at an all-time high Monday for the fifth time in six days. The Dow Jones Industrial Average slipped 2.63 points to 18,530.42, with its losses muted by J&J’s gains, while McDonald’s Corp. increased 1.7 percent. The Nasdaq Composite Index fell 0.3 percent. Trading volume in S&P 500 shares was 9 percent below the 30-day average for this time of day.

Source: Bloomberg

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