GLOBAL MARKETS-Asian stocks defy broader global rally, Brexit worries emerge

  • 3 months ago
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THO



* S&P stock futures up slightly

* All three major U.S. stock indexes at record highs

* Asset risk on, dollar down

* Oil and gold rise

* scores again

* Asia stock markets this year: https://tmsnrt.rs/2zpUAr4

By David Henry

NEW YORK, Dec 17 (Reuters) – Asian stock fell slightly on Friday, failing to catch a broader global rally as the investor mood in the region shifted to broader caution about the economic outlook and as post-Brexit worries weighed.

Australian S&P/ASX 200 lost 0.46% in early trading. Japan’s Nikkei 225 fell 0.01%. E-mini futures for the S&P 500 EScv1 rose 0.01%.

As the year draws to a close, markets have been swinging between broader optimism about COVID-19 vaccines and a global economic recovery and concerns about still rising infections.

“We are in an environment now where bad news is good news because it means more stimulus,” said Sharon Zollner, chief economist at ANZ Research.

“That will have to change, but it is very difficult to know when central banks will stop having their foot to the floor and everyone has to reassess,” she said.

Global stocks hit record highs on Thursday, fueled by growing optimism that deals will be reached over a fresh U.S. stimulus package. Britain and the European Union struck a pessimistic tone in trade talks on Thursday, with a spokesman for Prime Minister Boris Johnson saying it was “very likely” there would be no agreement unless the bloc changed its position “substantially”. too, rose another 7% on Thursday after a 10% gain on Wednesday that had carried the cryptocurrency over $20,000 for the first time. negotiators in Washington were scrambling on Thursday to agree on details of a $900 billion COVID-19 aid bill. Lawmakers from both parties said failing to agree was not an option. Earlier Republican Senate Majority Leader Mitch McConnell said talks could spill into the weekend. markets remained confident in the new spending, which is estimated to be equivalent to 5% of gross domestic product.

Pressure for pandemic relief increased as new economic data showed the number of Americans filing first-time claims for jobless benefits unexpectedly rose last week. And, manufacturing activity in the mid-Atlantic region cooled in December, with factories reporting a sharp slowdown in new orders. bright spot in the economy was credited partly to low-interest rates: The housing market remains resilient, with homebuilding and permits powering ahead in November. Street’s three main indexes closed at record highs.

The Dow Jones Industrial Average rose 0.5%, the S&P 500 gained 0.6% and the Nasdaq Composite picked up another 0.8% to its third-straight daily record. were encouraged that the United States stood ready to ship 5.9 million doses of a new coronavirus vaccine developed by Moderna Inc that is on the cusp on winning regulatory approval. United States is battling a fresh coronavirus outbreak, with nearly 17 million infected, 308,000 dead and a rising daily death toll.

The dollar’s safe haven status gave way to riskier bets. The =USD on Thursday fell as low as 89.723 against a basket currencies on Thursday, breaking below 90 for the first time since April 2018, and was last down 0.50% at 89.795. FRX/ USD/

XAU= jumped 1.1% to $1,885.37 per ounce on Thursday afternoon, having hit a one-month high earlier in the session. U.S. GCv1 settled up 1.7% at $1,890.40. GOL/

Oil climbed rose on Thursday and touched a nine-month high. Brent crude futures settled up 42 cents at $51.50 a barrel and U.S. West Texas Intermediate (WTI) crude futures rose by 54 cents to $48.36 a barrel. O/R

http://tmsnrt.rs/2jvdmXl Global currencies vs. dollar

http://tmsnrt.rs/2egbfVh Emerging markets

http://tmsnrt.rs/2ihRugV MSCI All Country Wolrd Index Market Cap

http://tmsnrt.rs/2EmTD6j

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