Asian stocks slipped Friday as China’s crackdown on technology firms dented sentiment despite another all-time record for the U.S. market overnight amid solid economic growth data.
China and Hong Kong opened in the red, while Japan was little changed. U.S. futures fell following a new high for the S&P 500. A mixed batch of earnings reports Thursday included disappointments for Ford Motor Co. and Twitter Inc., and gains for Facebook Inc. and Amazon.com Inc. Concerns about chip shortages wiped out an earnings-driven advance for Apple Inc.
Investors in Asia are wary of fallout in the tech sector as Chinese regulators imposed wide-ranging restrictions on the financial divisions of 13 companies, including Tencent Holdings Ltd. and ByteDance Ltd., in an antitrust crackdown. China’s purchasing managers surveys pointed to slowing expansion in activity, after the U.S. reported 6.4% annualized growth in the first quarter.
Treasuries extended modest losses and the dollar was steady.
Equity markets may be ready for a pause after a month of gains. Investors are eyeing more support for the U.S. recovery after President Joe Biden unveiled a $1.8 trillion social package in addition to his infrastructure plans. And there’s no sign yet of the Federal Reserve withdrawing policy accommodation, with Chair Jerome Powell reasserting this week that he’s looking for more progress in the jobs market, and that inflation pressures are likely temporary.
“All evidence still points to continued support from both fiscal and monetary policy against a backdrop of accelerating corporate earnings,” said Mark Haefele, UBS Global Wealth Management’s chief investment officer. “This reinforces our view that markets can advance further, with cyclical parts of the market -- such as financials, energy, and value stocks -- likely to benefit most from the global upswing.”
Meanwhile, copper topped $10,000 a metric ton for the first time since 2011, nearing that year’s record high as the global recovery stokes demand and mines struggle to keep up. Crude oil traded just below $65 a barrel.
For updates and commentary on the markets see the MLIV <GO> blog.
These are some of the main moves in markets:
Stocks
- S&P 500 futures dipped 0.2% as of 10:52 a.m. in Tokyo. The benchmark index closed 0.7% higher
- Nasdaq 100 contracts fell 0.4%, after the index rose 0.5%
- Japan’s Topix Index was steady
- Shanghai Composite Index fell 0.6%
- Hang Seng Index slid 1.2%
- South Korea’s Kospi shed 0.6%
- Australia’s S&P/ASX 200 Index slipped 0.6%
Currencies
- The euro was little changed at $1.2121
- The British pound was at $1.3953
- The Japanese yen traded at 108.86 per dollar
- The Bloomberg Dollar Spot Index was steady
Bonds
- The yield on 10-year Treasuries advanced one basis point to 1.65%
- Australia’s 10-year yield rose three basis points to 1.75%
Commodities
- West Texas Intermediate crude traded just below $65 a barrel
- Gold dipped 0.2% to $1,769.25 an ounce
"stock" - Google News
April 30, 2021 at 04:58AM
https://ift.tt/3eEYCPP
Stock Market Today: Dow, S&P Live Updates for Apr. 30, 2021 - Bloomberg
"stock" - Google News
https://ift.tt/37YwtPr
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Stock Market Today: Dow, S&P Live Updates for Apr. 30, 2021 - Bloomberg"
Post a Comment