Asian stocks poised for gains after late Wall St dash
By Jessica DiNapoli NEW YORK (Reuters) - Asian stocks were set to open higher on Friday as a late Wall Street rally supported global sentiment although weak U.S. data and uncertainty about a stimulus package in Washington have kept a lid on confidence.
By Jessica DiNapoli
NEW YORK (Reuters) - Asian stocks were set to open higher on Friday as a late Wall Street rally supported global sentiment although weak U.S. data and uncertainty about a stimulus package in Washington have kept a lid on confidence.
U.S. stocks ended positive in choppy trade on Thursday, led by a dogged comeback in the technology sector, having initially sold off on higher than expected unemployment claims.
"What we've seen for equity markets is there is quite a good deal of resilience," said Tom Piotrowski, a market analyst at Australian broker CommSec. "Commentators like to stack up all of the negatives markets face, the U.S. election being among them, but I think there is a sense that there is an underlying resilience in the market."
In early Asian trade, Australia's S&P/ASX 200 futures
Hong Kong's Hang Seng index futures <.HSI>
Democrats in the U.S. House of Representatives are working on a $2.2 trillion coronavirus stimulus package that could be voted on as soon as next week, with House Speaker Nancy Pelosi reiterating she is ready to negotiate on it with the White House.
The Dow Jones Industrial Average <.DJI> rose 0.2%, the S&P 500 <.SPX> gained 0.30% and the Nasdaq Composite <.IXIC> added 0.37%.
The U.S. dollar lost ground as investor confidence returned. The dollar index <=USD> fell 0.056%.
U.S. Treasury yields fell, but moved off lows after a stronger-than-expected report on the housing sector.
Oil prices were steady as a new wave of coronavirus cases in Europe led several countries to re-impose travel restrictions, offsetting a drop in U.S. crude and fuel inventories.
(Reporting by Jessica DiNapoli; Editing by Sam Holmes)
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
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.