GLOBAL MARKETS-Asian markets face mixed open as U.S. stimulus deal remains elusive

By Pete Schroeder
WASHINGTON, Oct 2 (Reuters) - Asian markets were set for a
mixed opening on Friday, as a U.S. stimulus deal remained out of
reach and investors await fresh U.S. employment data for a read
on the economic toll from the coronavirus pandemic.
U.S. markets kicked off the fourth quarter closing higher on
Thursday while the dollar sank, as investors tracked stimulus
talk updates throughout the day. The September employment report
from the Labor Department looms large, following new layoff
announcements from the likes of Disney DIS.N and Goldman Sachs
GS.N .
Australian S&P/ASX 200 futures YAPcm1 were down 0.46% in
early trading, while Japan's Nikkei 225 futures NKc1 were down
0.09%.
In the United States, an additional economic stimulus
package remained elusive despite renewed efforts from Washington
negotiators. After a day of negotiations, House Speaker Nancy Pelosi told
reporters she did not expect an imminent agreement with the
Trump administration. It remains unclear if policymakers can get
something done before the Nov. 3 election. New data showed U.S. consumer spending was still up in
August, but its momentum was slowing as increased unemployment
benefits began to dry up. If policymakers cannot agree on more
support, the economic toll could worsen. "The risk is that if disposable incomes continue to fall,
the recovery in personal spending will slow or even reverse. The
fiscal stimulus stalemate suggests additional government support
payments to households are unlikely soon," said Commonwealth
Bank of Australia currency analyst Kim Mundy in a note.
The Dow Jones Industrial Average .DJI rose 0.13%. The S&P
500 .SPX gained 0.53% and the Nasdaq Composite .IXIC added
1.42%. MSCI's benchmark for global equity markets .MIWD00000PUS
rose 0.55%.
Stimulus talks pushed the dollar to a more than one-week low
against a basket of major currencies, with the Chinese yuan,
Australian, New Zealand and Canadian dollars all gaining against
the greenback. The dollar index was down 0.1% at 93.722
=USD . Gold rose after its worst month since November 2016 while
oil prices continued to fall, adding to a 10% September drop.
Spot gold prices XAU= rose 1.04% to $1,904.97 an ounce.
U.S. gold futures GCv1 settled up 1.1%.
Oil prices fell more than 3% as rising coronavirus cases
around the world dampened the demand outlook, while a rise last
month in member output from the Organization of the Petroleum
Exporting Countries also pressured prices.
Brent crude futures LCOc1 settled down $1.37 at $40.93 a
barrel. U.S. crude futures CLc1 fell $1.50 to settle at $38.72
a barrel. China's stock and bond markets, foreign exchange and
commodity futures markets are closed Oct. 1-8 for the Golden
Week holiday. South Korea and Hong Kong markets are also closed
on Friday for holidays.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
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
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>