Asian stocks ease as caution persists despite calmer markets By Reuters

© Reuters. First trading day of stock market in Tokyo

By Imani Moise

NEW YORK (Reuters) – Asian stocks came under pressure on Thursday as a mixed Wall Street session gave investors few immediate reasons to increase their risk positions following the recent social media-driven trading chaos.

Markets have calmed significantly in the past few days with the Cboe Volatility index down on Wednesday as wild swings in stock prices of GameStop (NYSE:) and other social media favorites subsided and the retail trading frenzy faded.

However, caution continues to dominate sentiment despite positive corporate earnings and firm signs of economic recovery.

The Australian lost 0.34% during early trade and 225 fell 0.35%. The lackluster start to Asian trade followed a mixed Wall Street session with the up 0.12%, the gaining 0.10%, but the losing 0.02%.

Supporting U.S. sentiment were strong earnings by technology giants Alphabet (NASDAQ:) Inc and Inc (NASDAQ:).

The Google parent company’s beat sent shares soaring nearly 7% on Tuesday, but some analysts warned the move was too extreme.

“After lagging its FAANG peers in 2020, shares of Alphabet are making up for lost time in 2021,” said Paul Hickey of Bespoke Investment Group.

“You’d expect GOOGL to at least consolidate a bit before it’s able to build on (year-to-date) gains.”

E-mini futures for the S&P 500 inched 0.26% higher while Hong Kong’s futures lost 0.16%.

MSCI’s gauge of stocks across the globe gained 0.04%.

Oil markets continued to advance as inventories hit their lowest level since March. recently rose 0.45% to $55.94 per barrel and was at $58.67, up 2.11% on the day.

U.S. Treasury yields continued to rise on the hopes of a large stimulus package and the dollar strengthened against a basket of currencies as investors felt more confident in the U.S. recovery trajectory than in Europe’s recovery. The benchmark 10-year yield was last up 3.2 basis points at 1.1391%

The 30-year bond was last up 4.9 basis point at 1.9267%, while the 20-year yield hit 1.735%, its highest level since that bond maturity was relaunched in May 2020.

The was up 0.07% at 91.145 in afternoon trading in New York after rising to a two-month high of 91.308 during the session.

fell 0.2% to $1,833.93 per ounce and U.S. settled up 0.1% at $1,835.10.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button