🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

GLOBAL MARKETS-Asia shares set to rise after U.S. equities hit new record in tech spike

Published 27/08/2020, 00:43
© Reuters.
EUR/USD
-
UK100
-
US500
-
FCHI
-
DJI
-
DE40
-
JP225
-
HK50
-
MSFT
-
GOOGL
-
AAPL
-
AMZN
-
DX
-
JP225
-
HK50
-
IXIC
-
STOXX
-
GOOG
-
MIAPJ0000PUS
-
MIWD00000PUS
-
MRNA
-

* Nasdaq and S&P 500 also hit new highs
* Salesforce.com drives tech stocks higher
* Fed chair due to speak at Jackson Hole on Thursday
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

By Katanga Johnson
WASHINGTON, Aug 26 (Reuters) - Asian stocks will likely
climb on Thursday after the S&P 500 and Nasdaq rallied to fresh
records on upbeat corporate results, while the dollar eased a
day before the U.S. Federal Reserve possibly sets a new course
on inflation.
A gauge of global equity markets, MSCI's all-country world
index surged past the pre-COVID high reached in February as
technology stocks jumped after Salesforce.com Inc CRM.N raised
its annual revenue forecast on surging demand for the company's
online business software. Australian S&P/ASX 200 futures YAPcm1 rose 0.25% in early
trading.
Japan's Nikkei 225 futures NKc1 fell 0.04%, while the
Nikkei 225 index .N225 closed the overnight session down 0.03%
at 23,290.86​​​​.
Hong Kong's Hang Seng index futures .HSI .HSIc1 were up
0.12%.
Shares of big companies like Apple Inc AAPL.O , Alphabet
Inc GOOGL.O , Amazon.com Inc AMZN.O and Microsoft Corp
MSFT.O , which influence the broader market because of their
sheer size, were all higher.
"Your three highest sectors are all the mega-cap tech and
tech-related stocks," said Joseph Sroka, chief investment
officer at NovaPoint in Atlanta. "So that notion of large-cap
tech leading the market is in play today."
"There's this confidence that regardless of what happens
with COVID, these companies have proven that they're open for
business," he said.
Adding to the upbeat mood was an analysis of early-stage
data from Moderna Inc's MRNA.O experimental COVID-19 vaccine
that showed the vaccine induced immune responses in older adults
similar to those for younger participants. The Dow Jones Industrial Average .DJI rose 83.48 points,
or 0.3%, to 28,331.92, the S&P 500 .SPX gained 35.11 points,
or 1.02%, at 3,478.73.
The Nasdaq Composite index .IXIC added 198.59 points, or
1.73%, at 11,665.06.
The pan-European STOXX 600 index .STOXX rose 0.91% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.89%.
Better-than-expected economic data in Europe has lifted
analysts' earnings expectations, driving regional bourses
higher. Benchmark indexes in Frankfurt .GDAXI , Paris .FCHI
and London .FTSE closed up 0.98%, 0.80% and 0.14%,
respectively. Emerging market stocks rose 0.41%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.38%
higher.
Oil prices traded little changed, pressured by worries about
the demand outlook during the coronavirus pandemic but buoyed as
U.S. producers shut output in the Gulf of Mexico ahead of
Hurricane Laura.
Producers evacuated 310 offshore facilities and shut 1.56
million barrels per day of crude output, 84% of Gulf of Mexico's
offshore production - near the 90% outage that Hurricane Katrina
brought 15 years ago.
The dollar index =USD fell 0.175%, with the euro EUR= up
0.07% at $1.1837.
On Wednesday, the index hit a session high of 93.37 after
data showed U.S. durable goods orders had increased more than
expected in July. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.