Asian markets set for messy open after U.S. stocks peak following Biden inauguration
By Jessica DiNapoli NEW YORK (Reuters) - Asian investors were expecting a mixed day of trading after Wall Street peaked on Thursday, pushed upward by continued optimism about economic stimulus to counteract the COVID-19 pandemic promised by newly inaugurated U.S. President Joe Biden.
By Jessica DiNapoli
NEW YORK (Reuters) - Asian investors were expecting a mixed day of trading after Wall Street peaked on Thursday, pushed upward by continued optimism about economic stimulus to counteract the COVID-19 pandemic promised by newly inaugurated U.S. President Joe Biden.
"The markets had such a strong run yesterday after the presidential inauguration in the U.S. and the run-up to that, that the lead coming in from the U.S. is a bit messy," said Shane Oliver, chief economist at investment manager AMP Capital in Sydney. "A lot of the good news is out there. I suspect a fairly flat day."
MSCI's gauge of stocks across the globe gained 0.02%.
Australia's ASX 200 fell 0.08% in early trade Friday.
On Thursday, the Nikkei 225 index closed up .82%, and the futures contract is now down 0.49% from the close.
Hong Kong's Hang Seng index futures were down 0.17%.
On Wall Street, both the S&P 500 and Nasdaq Composite closed at record highs on Thursday, up .03% and .55%, respectively.
The Dow Jones Industrial Average fell 0.04%. It had been poised for a record until falling into negative territory in the final minutes of trading.
The U.S. dollar fell on Thursday for the third straight session, as investors ploughed their money into higher-yielding currencies on optimism about a recovery from the pandemic in the world's largest economy.
U.S. Treasury yields on the longer end of the curve inched up along with inflation expectations on Thursday as the market eyed the prospect for additional debt supply under Biden's administration.
Oil prices steadied on Thursday after data showed an unexpected increase in U.S. crude inventories that revived pandemic-related fuel demand concerns. Hopes for a U.S. stimulus package also lifted prices.
(Reporting by Jessica DiNapoli; Editing by Stephen Coates)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
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