Saturday, November 28

Tag: International market

SP 500, Dow pull back from all-time closing highs after grim jobless data
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SP 500, Dow pull back from all-time closing highs after grim jobless data

The S&P 500 index closed lower on Wednesday as mounting U.S. layoffs in the wake of new mandated lockdowns to contain surging COVID-19 infections dampened investor risk appetite.The index and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week.Pandemic-resilient tech and tech-adjacent market leaders helped keep the Nasdaq afloat.“It’s a growth day, flipping back the other way away from value,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “It’s this ongoing struggle between the virus and the vaccine.”related news “There’s a reality setting in that while the vaccine will start being distributed fairly quickly, the virus isn’t go away quickly...
Asian shares slip as investors pause for breath after massive rally
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Asian shares slip as investors pause for breath after massive rally

Asian shares dipped slightly on Thursday as the hot run up in global markets took a breather, with investors switching their focus from vaccine hopes to disappointing U.S. jobs data and new COVID-19 lockdowns.Investors refrained from extending a rally in equities that had been fueled by vaccine optimism. Stocks neared but missed the previous session’s record high, while oil continued to rise and the dollar lost some of its safe-haven luster.Traders turned to riskier assets, including some funded in other currencies, following positive news about COVID-19 vaccines and a seemingly normal U.S. transition of power earlier this week.Former Fed Chair Janet Yellen’s reported nomination to Treasury Secretary has also emboldened those risk bets and further weighed on the dollar.related...
Dow scales 30,000 on vaccine headway, Biden transition
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Dow scales 30,000 on vaccine headway, Biden transition

U.S. stocks rallied on Tuesday and the Dow breached the 30,000 level for the first time, as investors anticipated a 2021 economic recovery on coronavirus vaccine progress and the formal clearance for President-elect Joe Biden’s transition to the White House.Of the 11 major S&P sectors, 10 gained ground, led by economically sensitive stocks such as financials, materials and energy, while industrials hit a record.President Donald Trump finally gave the green light for the formal transfer of power to begin on Monday, a process that was delayed for weeks despite Democrat Joe Biden emerging as the clear winner in the U.S. elections. The General Services Administration told Biden he could formally begin the handover process.Sentiment this week was also boosted by reports that Biden ...
Stocks hit record high as Joe Biden, vaccine lift global prospects
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Stocks hit record high as Joe Biden, vaccine lift global prospects

World shares rallied to a record peak on Wednesday, following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook.The formal start of U.S. president-elect Joe Biden's transition to the White House and increasing confidence a COVID-19 vaccine would be ready soon ushered in renewed appetite for global shares.After weeks of waiting, President Donald Trump's administration on Monday cleared the way for Biden to prepare for the start of his administration, giving him access to briefings and funding."The main thing now is that it has become official that the Biden administration will start. And we have ample liquidity from the world's central banks," said Norihiro Fujito, chief investment strateg...
Global stocks shoot up as vaccine progress, Biden transition boost confidence
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Global stocks shoot up as vaccine progress, Biden transition boost confidence

Asian stocks opened higher on Tuesday as COVID-19 vaccine progress shored up global sentiment and U.S. President-elect Joe Biden was given the go-ahead to begin his White House transition.U.S. General Services Administration chief Emily Murphy wrote in a letter to Biden on Monday that he can formally begin the hand-over process.President Donald Trump tweeted that he had told his team "do what needs to be done with regard to initial protocols," an indication he was moving toward a transition after weeks of legal challenges to the election results.That helped futures for the S&P 500 up 0.52% in early Asian trade while Japan's Nikkei was 1.8% higher and Australia's S&P/ASX 200 1.11% stronger.related newsThose gains followed an upbeat Wall Street session that was drive...
Asian shares rise on hopes for rapid vaccine rollout
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Asian shares rise on hopes for rapid vaccine rollout

A broad gauge of Asian shares edged up to record highs on Monday morning as hopes for imminent coronavirus vaccines buoyed investor sentiment, but worries over the impact of economic lockdowns and uncertainty over U.S. stimulus capped gains.MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.38%, pushing past a previous record high touched on Friday.Trading activity was thin early in the Asian day, with Japanese markets closed for a holiday. Nikkei futures added 0.16% to 25,785 and Seoul’s Kospi was 0.84% higher.The regional index also got a boost from Australian shares which gained 0.81% as the country eased some COVID-19 restrictions. Most of the country has seen no new community infections or deaths in several weeks.related news In contrast, in the United St...
Wall Street closes lower as surging COVID-19 cases offset vaccine hopes
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Wall Street closes lower as surging COVID-19 cases offset vaccine hopes

US stocks shut lower on Friday as speculators grappled with financial improvement advancements, worries over an extensive rollout of antibodies, and a developing number of state-level closures to battle the spiraling COVID-19 pandemic.Stay-at-home plays, for example, Zoom Communications Inc and Netflix Inc , which have beated all through the wellbeing emergency, helped control the Nasdaq's misfortune.Consistently, the rhythmic movement of antibody news and spiking diseases had financial specialists wavering between monetarily delicate recurrent stocks and pandemic-safe market pioneers.The S&P 500 and the Dow posted minor misfortunes for the week, while the tech-loaded Nasdaq settled somewhat higher from last Friday's nearby.related news"Markets are as yet stuck in a push-an...
Asian shares fall as fresh outbreaks overshadow vaccine progress
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Asian shares fall as fresh outbreaks overshadow vaccine progress

Asian stocks followed Wall Street's sharp selloff on Thursday as concerns about rising coronavirus infections and new shutdowns in major U.S. cities hosed down earlier investor enthusiasm about COVID-19 vaccine developments.Bearish sentiment triggered a late-session retreat in stock markets on Wednesday after a surge in new COVID-19 infections prompted New York City, which has the largest school district in the United States, to halt in-person learning starting from Thursday.The news of the shutdowns overshadowed Pfizer Inc's announcement that its COVID-19 vaccine was 95% effective and that the company would apply for emergency U.S. authorization within days. Pfizer's vaccine has a similar effectiveness as the candidate developed by Moderna Inc ."It's like a seesaw, the fight betw...
Asia stocks gain after vaccine hopes push Wall Street to record highs
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Asia stocks gain after vaccine hopes push Wall Street to record highs

Asian stocks opened firmer on Tuesday after the S&P 500 and Dow Jones files hit record highs on information on another promising Covid immunization, which upheld any expectations of a faster monetary recuperation.Speculator assessment shot up after Moderna Inc said its exploratory COVID-19 antibody was 94.5% successful in forestalling disease dependent on break late-state information.The Cambridge, Massachusetts-based firm turned into the second drugmaker, after Pfizer Inc , to declare promising preliminary information in the improvement of an antibody to vanquish the pandemic. Its offers increased 9.6% on the day."This is a continuation of what we considered last to be as the immunization being an impetus for a pivot into repeating areas, for example, energy, financials, and s...
SP 500, Dow close at all-time highs on reignited vaccine hopes
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SP 500, Dow close at all-time highs on reignited vaccine hopes

The S&P 500 and Dow Jones industrial average notched record closing highs on Monday as news of another promising coronavirus vaccine fanned hopes of eradicating COVID-19, while spiking infections and new shutdowns threatened to hobble a recovery from the pandemic recession.All three major U.S. stock indexes advanced and with its new closing record, the blue-chip Dow is the last of the three to reclaim levels reached in February, before lockdowns sent the markets into free-fall.The Russell 2000 also hit an all-time closing high.Value, cyclical and small cap shares outperformed the broader market.related newsModerna Inc said its experimental COVID-19 vaccine was 94.5% effective in preventing infection based on interim late-state data. It was the second drugmaker in as ma...