Flat Asian Futures After Wall Street Cuts At All-Time Highs By Reuters

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© Reuters. FILE PHOTO: A man stands on a flyover with an electronic board displaying the Shanghai and Shenzhen stock indices in Shanghai.

By Imani Moise (Reuters) MYRTLE BEACH – Asian futures changed little in early trading after progress in vaccine distribution and a large US stimulus program sent two major Wall Street indices to record highs of closing. E-mini futures for the and Hong Kong futures were essentially flat, while the {{178 | Neither Japan was up 0.1%. The Australian fell 0.9% in early trading. Wall Street rallied for a fourth day in a row Thursday as Democrats forged ahead with President Joe Biden‘s $ 1.9 trillion stimulus plan without bipartisan support. Some investors expected the Labor Department to release better-than-expected employment data later on Friday. “The United States looks good in relative terms, with rising inflation expectations, steeper yield curves, America’s vaccination rate is increasing, and savings rates are declining,” said Chris Weston, chief research analyst at the Pepperstone group. . Each of the major Wall Street indices rose more than 1% on Thursday. The index and the S&P 500 set all-time highs. It rose 332.26 points, or 1.08%, to 31,055.86, the S&P 500 gained 41.57 points, or 1.09%, to 3,871.74 and the Nasdaq Composite added 167.20 points, or 1.23%, to 13,777.74. MSCI’s worldwide stock indicator gained 0.01%. Bullish sentiment around stimulus and the broader US economic recovery also boosted long-term Treasury yields and strengthened the dollar. The 10-year benchmark yield was up around 1 basis point to 1.1409% as investors positioned themselves for a large pandemic aid package. The yield on 20-year US Treasuries rose 2 basis points to 1.7396%. The rose 0.5% as the euro weakened. The strength of the dollar limited gains in oil markets, which continued to rise as promised supply cuts meant that inventories were likely to remain low. It was recently up 0.52% to $ 56.52 a barrel and was at $ 59.11, up 1.11% on the day. added 0.2%, to $ 1,795.30 an ounce, and US% to $ 1,788.90 an ounce.

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