The bull run on the inventory alternate continues, the pound is dealing with the Brexit take a look at
© Reuters. A man wearing a protective face mask walks past a stock market price in front of a broker in Tokyo amid coronavirus disease (COVID-19) outbreak
By Stanley White
TOKYO (Reuters) – Asian stocks rose to record highs and US stock futures rose on Wednesday as investors followed positive news about COVID-19 vaccines and ongoing efforts to provide further fiscal stimulus.
The broadest MSCI index for stocks in the Asia-Pacific region outside Japan rose 0.65%. At one point the index hit 647.78, an all-time high.
MSCI stocks around the world also hit record highs.
Australian stocks rose 0.61%. rose 1.27% and approached a 29 1/2 year high. Sentiment received an additional boost after Japanese data indicated a recovery in capital spending.
South Korean stocks also rose 1.6%, trading near a record high. Stocks in China bucked the trend, falling 0.68% on profit-taking.
rose by 0.45%, German by 0.37% and futures in London by 0.48%.
US e-mini stock futures rose 0.23% after shares hit new record highs on Wall Street Tuesday, fueled by positive vaccine news and apparent progress in US economic talks.
The British pound changed little before the negotiations on a trade agreement between the UK and the European Union.
“While there is still hope that a new US stimulus package will be agreed soon, a Brexit deal is less likely to be struck with negotiators on both sides who acknowledge that a deal may not go through,” the analysts said the ANZ Bank wrote in a research protocol.
“The next 24 hours will be critical and likely lead to market volatility, depending on what has been agreed or not.”
The S&P 500 rose 0.35% on Tuesday, the S&P 500 rose 0.28% and the plus 0.5%.
US policymakers continued to negotiate additional incentives to offset the economic impact of the pandemic, while pursuing a stopgap solution for government funding.
Both parties’ leaders remain firm believers in the need to reach an agreement but continue to work on sticking points, including helping state and local governments and protecting corporate liability.
The steady surge in positive news about COVID-19 vaccines helped lift investor sentiment.
The UK became the first Western nation to launch a large-scale vaccination campaign on Tuesday, and Johnson & Johnson (NYSE 🙂 reported that it may receive trial results for a single-dose, late-stage vaccine earlier than expected in January.
Meanwhile, Pfizer Inc (NYSE 🙂 cleared another hurdle when the U.S. Department of Health released documents that did not raise any new safety or efficacy concerns.
However, the looming prospect of a no-deal Brexit weighed on sentiment for sterling, which last traded at $ 1.3379 and 90.68 pence per euro.
British Prime Minister Boris Johnson will have dinner with Ursula von der Leyen, President of the EU Executive Commission, in Brussels on Wednesday to try to fill in loopholes that her negotiators have been grappling with for months.
Against a basket of currencies, the dollar was at 90.802, just above a two-and-a-half year low it hit on Friday as optimism over vaccines attracted short sellers.
The Chinese offshore yuan, which highlighted the dollar’s weakness, surged over 6.5000 to hit its strongest level in more than two years. The trade was also trading near its highest level in more than two years.
The benchmark rose to 0.9394% on Wednesday. Some traders say expectations for more household spending could keep yields rising in the future.
Futures fell 0.27% to $ 48.71 a barrel, while US West Texas Intermediate Futures fell 0.24% to $ 45.49 after inventories rose 0.24%. [O/R]
fell from a two-week high to $ 1,858.26 an ounce as the start of vaccine treatment slowed safe haven demand for precious metals.