GLOBAL MARKETS-Asian shares look for rebound following tech earnings

By Pete Schroeder
Oct 30 (Reuters) - Asian markets looked to continue an
upward swing on Friday, after a rebound in U.S. equities and
strong corporate earnings set the stage.
Australia's ASX 200 .AXJO climbed 0.14% in early trading,
while Hong Kong's Hang Seng index futures .HSI .HSIc1 were
up 0.26%.
Japan's Nikkei 225 futures NKc1 were down 0.24% and down
0.31% from the underlying index's .N225 close on Wednesday.
MSCI's gauge of stocks across the globe .MIWD00000PUS was
up 0.44%.
Record numbers of coronavirus cases worldwide and the Nov. 3
U.S. presidential election remained the major factors looming
ahead for investors. On Wednesday, global coronavirus cases rose
by over 500,000 for the first time as France and Germany prepped
fresh lockdowns. But in the short-term, a diet of strong quarterly reports
from tech giants set the stage for an upswing at the Asia open.
Google parent Alphabet GOOGL.O , Amazon.com Inc AMZN.O , Apple
Inc AAPL.O and Facebook Inc FB.O all beat analyst estimates
for quarterly revenue, with Amazon reporting a second straight
quarter of record profits. U.S. stocks enjoyed a rebound Thursday after a significant
selloff the day prior. They were boosted by a
stronger-than-expected report on U.S. economic growth in the
third-quarter, which found record expansion but lingering scars
from the pandemic. "Even with the rebound, US output remains 3.5% below its
pre-COVID levels. The path towards recovery is much less clear
from here, especially as the number of virus cases grows and
there are near-term impediments to a fiscal deal," wrote ANZ
analysts in a note.
The Dow Jones Industrial Average .DJI closed up 0.52%. The
S&P 500 .SPX gained 1.19% and the Nasdaq Composite .IXIC
added 1.64%. The European Central Bank committed to further action in
December to further lend economic support as European nations
grappled with a renewed coronavirus outbreak. The announcement
sent the euro sliding to a four-week low against the U.S.
dollar. Oil continued a downward slide, falling by more than 4%
Thursday and hitting a five-month law, as renewed pandemic
concerns weighed heavily on demand expectations.
December Brent crude LCOc1 futures were down $1.66, or
4.2%, and U.S. West Texas Intermediate (WTI) crude CLc1
futures were $1.50, or 4%, lower. Gold prices hit a one-month low Thursday, pushed down by a
stronger dollar. U.S. gold futures GCcv1 settled down 0.6% to
$1,868. The 10-year note US10YT=RR last fell 16/32 in price to
yield 0.8331%, from 0.781% late on Wednesday.

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