GLOBAL MARKETS-Big tech weighs on U.S., world equities, capping gains on Trump's improving health

* Big tech caps index gains on antitrust threat
* Fed Chair Powell speaks
* Crude extends gains on Trump's recovery, supply pressures
* Stimulus talks ongoing
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

(Updates to U.S. markets open, changes dateline from LONDON to
NEW YORK, changes byline)
By Stephen Culp
NEW YORK, Oct 6 (Reuters) - Large-cap tech stocks weighed on
U.S. and European equities on Tuesday despite reassurances about
President Donald Trump's improving health and progress toward a
stimulus deal.
President Trump said he felt "real good" upon returning to
the White House after a three-day hospital stay where he
received an experimental treatment for COVID-19. "The view that Trump appears to be on the road of recovery
is benefiting the global markets because it indicates that there
is stability in the White House," said Tim Ghriskey, chief
investment strategist at Inverness Counsel in New York.
But market-leading large cap tech stocks weighed on U.S.
stocks after reports that the U.S. House of Representative's
upcoming antitrust report contains a "thinly veiled call" to
break up the companies. U.S. Federal Reserve Chair Jerome Powell is speaking on the
topic of "Economics, Business and Policy in the Pandemic" at a
virtual meeting of the National Association for Business and
Economics.
"Powell's not prone to surprising the markets," Ghriskey
added. "He's likely to confirm the Fed's goals of improving
employment and creating some inflation over the longer term."
Stocks were little changed as Powell began his remarks.
Optimism over the passage of a new pandemic relief aid
package was simmering in the background, as U.S. House Speaker
Nancy Pelosi and Treasury Secretary Steven Mnuchin continued to
hammer out a bipartisan agreement months after emergency
benefits expired for millions of Americans. The Dow Jones Industrial Average .DJI rose 107.79 points,
or 0.38%, to 28,256.43, the S&P 500 .SPX gained 3.18 points,
or 0.09%, to 3,411.81 and the Nasdaq Composite .IXIC dropped
2.36 points, or 0.02%, to 11,330.12.
European equities advanced after Trump's release from the
hospital helped ease uncertainties and as Germany reported a
"remarkable" jump in industrial orders, but pared gains due to
weakness in tech and healthcare stocks . The pan-European STOXX 600 index .STOXX rose 0.16% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.28%.
Crude prices extended gains, boosted by waning uncertainties
surrounding Trump's health and supply disruptions from the
ongoing oil worker strike in Norway. U.S. crude CLcv1 rose 3.9% to $40.75 per barrel and Brent
LCOcv1 was last at $42.78, up 3.61% on the day.
The dollar edged nominally lower as investors waited for
developments in ongoing stimulus talks in Washington.
The dollar index .DXY fell 0.09%, with the euro EUR= up
0.08% to $1.179.
The Japanese yen strengthened 0.11% versus the greenback at
105.64 per dollar, while Sterling GBP= was last trading at
$1.2971, down 0.05% on the day.
U.S. Treasury yields slightly extended their rise after Fed
Chair Powell began speaking on the economy.
Benchmark 10-year notes US10YT=RR last fell 7/32 in price
to yield 0.7834%, from 0.762% late on Monday.
The 30-year bond US30YT=RR last fell 27/32 in price to
yield 1.6029%, from 1.567% late on Monday.
Stimulus hopes also helped gold prices inch higher.
Spot gold XAU= added 0.2% to $1,916.49 an ounce.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Stocks versus COVID https://tmsnrt.rs/2GCoYoa
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>