Connect with us


Asia stocks set for choppy session after S&P 500 hits record high




(Reuters) – Asian stocks are expected to experience a choppy trading session on Friday after tech stocks took the S&P 500 to a new high even as investors weighed an unexpected increase in the number of Americans filing new claims for benefits unemployment.

FILE PHOTO: Passers-by wearing face masks are reflected on a stock quote board outside a brokerage house, amid the coronavirus (COVID-19) outbreak, in Tokyo, Japan November 10, 2020. REUTERS / Issei Kato

A report on jobless claims in the United States showed a second consecutive weekly increase earlier Thursday, countering a string of strong economic data from payrolls and vacancies that had boosted investor confidence in a rapid economic rebound. .

The weaker data helped benchmark 10-year U.S. Treasury yields fall to their lowest level since March 26 and boost demand for high-growth stocks in the tech sector, which has been the biggest winner of the S&P 500. also closed at a seven-week high on Thursday.

The jobless claims set the tone in the market that things may not be as strong as people think and were still far from a recovery, said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

Australian S & P / ASX 200 futures were up 0.03% early in trading, while Hong Kongs Hang Seng index futures fell 0.17%. Japanese Nikkei 225 futures rose 0.45%.

US Federal Reserve Chairman Jerome Powell signaled on Thursday that the central bank was far from reducing its support for the US economy, saying at an International Monetary Fund event that if the economic reopening could result in a momentary surge prices, he expects it to be temporary. and it will not constitute inflation.

Powells’ comments reaffirmed the accommodating position set out in the federal government’s policy meeting minutes released on Wednesday.

Aided by the further decline in yields, traders crowded into mega-cap tech stocks such as Apple Inc, Microsoft Corp and Inc, which were the main drivers of the S&P 500.

Market movement was driven by rates, said Thomas Hayes, chairman of Great Hill Capital. As long as rates remain compressed, there is a supply of long lasting profit power, which has been embodied in the technology rally.

On Wall Street, the Dow Jones Industrial Average rose 0.17% to 33,503.57, the S&P 500 0.42% to 4,097.17 and the Nasdaq Composite rose 1.03% to 13,829.31.

U.S. Treasury yields fell on Thursday, under pressure from accommodating comments from Powells and weaker-than-expected initial weekly jobless claims.

The benchmark 10-year notes last rose 9/32 to a yield of 1.6244%, down from 1.654% on Wednesday night.

The US dollar fell to a two-week low against a basket of currencies, following Treasury yields after the surprise surge in US jobless claims.

The dollar index fell 0.379%, the euro rose 0.03% to $ 1.1916

The Japanese yen weakened 0.05% against the greenback at 109.31 per dollar, while the South Korean won was stable against the greenback at 1116.18 per dollar.

Gold prices surged to a one-month high as assurances from the Fed to maintain its accommodative policy weighed on Treasury yields and the greenback.

Spot gold added 1.1% to $ 1,756.36 an ounce. US gold futures stabilized about 1% at $ 1,758.2.

Crude oil prices were little changed as Wall Streets rebounded and the weak dollar offset concerns over a sharp rise in gasoline inventories in the United States.

US crude fell 0.28% to $ 59.60 a barrel, while Brent came in at $ 63.20 a barrel, up 0.06% on the day.

Report by Chibuike Oguh in New York; Editing by Christopher Cushing

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]