Barcelona DC

Main Menu

  • Home
  • Mediterranean
  • Fira de Barcelona
  • Catalonia
  • Global Wealth
  • Saving Investment

Barcelona DC

Header Banner

Barcelona DC

  • Home
  • Mediterranean
  • Fira de Barcelona
  • Catalonia
  • Global Wealth
  • Saving Investment
Global Wealth
Home›Global Wealth›Most Asian markets surge after Wall St record, eyes on jobs data

Most Asian markets surge after Wall St record, eyes on jobs data

By Clint Kennedy
July 2, 2021
0
0



Asian markets mostly rose on Friday, following another record in New York City, with recovery optimism and vaccine hope surpassing concerns of a spike in new viral infections, while oil prices extended their gains after l OPEC failed to reach an agreement on increasing production.

Traders are now anxiously awaiting the much-anticipated US employment data later today, which will provide new insight into the world’s largest economy and perhaps give the Federal Reserve yet another reason to start. to reduce its ultra-flexible monetary policy.

The rapid spread of the Delta virus variant has become a source of concern for several governments and has forced some, including Australia and South Africa, to re-impose lockdown measures.

However, other countries such as Britain, the United States and parts of Europe continued to reopen despite an increase in the number of new cases, with vaccines appearing to help reduce deaths and hospitalizations.

Johnson & Johnson became the last pharmaceutical giant to claim that its drug was effective against Delta and offered long-lasting protection against infections at large.

Confidence in jabs and a string of healthy economic readings from various countries are helping to push stock markets higher, and on Thursday the S&P 500 hit a record high for the sixth day in a row. And the general consensus is that the rally still has a way to go, even if there are a few bumps in the road.

The latest figures showed U.S. jobless claims fell again last week to a pandemic-era low, as manufacturing activity continued to improve.

– Oil prolongs gains –

Meanwhile, the International Monetary Fund added to the positive mood, predicting that the US economy will grow 7% this year, its highest level since 1984, while boosting its outlook for next year.

“With prospects for economic growth and strong earnings, accommodative policies and still attractive valuations relative to bonds, we believe the current environment is favorable for further gains in equities,” said Mark Haefele of UBS. Global Wealth Management.

After the Wall Street rally, Asia recorded large gains.

Tokyo, Sydney, Seoul, Singapore, Taipei, Wellington, Manila and Jakarta were all up, although Hong Kong and Shanghai fell more than 1% due to a massive sell-off of tech stocks.

All attention is now on non-farm payroll data in the United States on Friday, with the Fed paying close attention as it considers its next step on monetary policy.

This year’s meteoric recovery – and its likely continuation until 2022 – has prompted the central bank to advance projections for the liquidation of its massive bond-buying program, with some predicting it will begin later this year.

However, while that would mean the beginning of the end of its accommodative agenda, analysts expect it to move slowly so as not to upend the markets.

In oil markets, both contracts rose in Asia, recovering on Thursday after OPEC and other major producers delayed until Friday the decision to increase or not production in light of the rebound in Requirement. WTI and Brent are at levels not seen since 2018.

A panel had previously recommended pumping an additional 400,000 barrels per day, less than expected, despite fears of a rapid squeeze in supplies. Still, officials are unable to reach a deal and observers say the meeting could end without any increase being agreed, putting further upward pressure on prices.

– Key figures at 02:30 GMT –

Tokyo – Nikkei 225: UP 0.3% to 28,791.10 (pause)

Shanghai – Composite: DOWN 1.5% to 28,397.90

Hong Kong – Hang Seng Index: DOWN 1.3% to 3,540.05

Euro / dollar: DOWN to $ 1.1844 from $ 1.1855 at 2050 GMT

Pound / dollar: up to $ 1.3770 from $ 1.3762

Euro / pound: DROP to 86.02 pence against 86.10 pence

Dollar / yen: up to 111.59 yen from 111.54 yen

West Texas Intermediate: EN up 0.2% to $ 75.41 per barrel

North Sea Brent: Up 0.3% to $ 76.04 per barrel

New York – Dow: 0.4% at 34,633.53 (close)

London – FTSE 100: Up 1.3% to 7,125.16 (close)

dan / oh



Related posts:

  1. International fintech management on the horizon for Canada
  2. Institutional buyers put danger again on the desk – report
  3. RPT-GRAPHIC-5 Market Tendencies Buyers Focus On For Q2
  4. Girls ought to discuss cash and never be ashamed
Tagsglobal wealthunited stateswealth managementworld largest

Recent Posts

  • Savills revises its five-year forecast for house price growth in prime markets
  • Bartolo, the Mediterranean must once again become a sea of ​​life – General News
  • PSG set to hijack the signing of Bernardo Silva from FC Barcelona
  • HSBC’s choice of Asian strategy in the spotlight
  • Shawarma Press® continues expansion in Texas with the opening of its sixth location in Frisco

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2020
  • October 2020
  • September 2020
  • July 2020
  • June 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • July 2018
  • April 2018
  • December 2017
  • September 2017
  • May 2016
  • February 2014

Categories

  • Catalonia
  • Fira de Barcelona
  • Global Wealth
  • Mediterranean
  • Saving Investment
  • Privacy Policy
  • Terms and Conditions