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Stock Market Today LIVE Updates: Benchmarks Erase Initial Gains; gasoline price up to Rs 1.67, diesel Rs 7.10 per liter in Delhi
NY: A late Wall Street rally is expected to drive Asian stocks higher on Tuesday after technology stocks and oil rose easing coronavirus restrictions and prospects for an economic recovery, overcoming concerns about renewed Chinese trade tensions. -Americans.
The futures of the main indexes of EE. The US, Hong Kong, and Australia rose about 0.3 percent in early Asian trading after major Wall Street indices ended on Monday. The tech-heavy Nasdaq compound closed 1.2 percent.
Oil rose as much as 5 percent as countries announced they would begin easing coronavirus blockages and cut oil supplies.
The improvement in shares came in more optimistic statements from the governors of California and New York to reopen business. New York’s Andrew Cuomo on Monday described a gradual reopening in the US state hardest hit by the COVID-19 pandemic.
Representative image. Reuters
“Can you lift the restrictions and start gradually reducing economic activity and still keep the number of cases at bay? That is what the market is focused on right now, ”said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
Early on Tuesday, trading in Asia, futures for the S&P 500 rose 0.1 percent and Australian futures S & P / ASX 200 rose 0.32 percent. Hong Kong Hang Seng index futures were up 0.24 percent. The markets in Japan and mainland China are closed for public holidays.
The Australian dollar fell 0.02 percent against the dollar at $ 0.643.
The change in sentiment came too late for European stocks with the pan-European STOXX 600 finishing 2.7 percent lower. There were also concerns about declining manufacturing in Europe and the United States.
The worldwide MSCI stock indicator lost 0.69 percent on Monday. Shares in emerging markets lost 3.14 percent.
The Dow Jones Industrial Average rose 0.11 percent on Monday, while the S&P 500 gained 0.42 percent.
The rise of the S&P 500 was fueled by Microsoft, Apple, and Amazon. Its strength outweighed declines in airline stocks by 5-8 percent after legendary investor Warren Buffett said his Berkshire Hathaway had sold its operator stakes.
US crude oil rose 3.87 percent to $ 21.18 a barrel and Brent rose to $ 27.97, an increase of 5.79 percent on the day. “The market continues to value the idea that things are improving,” said Gene McGillian, vice president of market research for Tradition Energy in Stamford, Connecticut.
Still, an ambivalence about countervailing forces dominated the United States Treasury market. Strong corporate debt issuance weighed on bond prices after an early round of safe-haven buying and left yields on US Treasuries. USA At 10 years it barely changed to 0.63 percent compared to 0.64 percent as of Friday.
“For me that really speaks to … a deep lack of conviction about what comes next,” said Jon Hill, interest rate strategist at BMO Capital Markets in New York.
The US dollar index was up 0.258 percent, and the euro was down 0.03 percent to $ 1.0903. Spot gold added 0.1% to $ 1,701.44 an ounce.
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