US stock futures rise after Trump announces Japan trade deal
(Corrects typographical error in paragraph 6)
* U.S. stock futures reverse early losses after Trump's
tweet
* Source says Trump has signed $2.3 trln spending package
* 2020 asset performance http://tmsnrt.rs/2yaDPgn
By Hideyuki Sano
TOKYO, Dec 28 (Reuters) - Global shares ticked up on Monday
as a source said U.S. President Donald Trump signed into law a
$2.3 trillion pandemic aid and spending package he had until now
refused to sign.
U.S. S&P futures EScm1 last traded up 0.4%.
The futures had earlier reversed losses after a cryptic
tweet by Trump - "Good news on Covid Relief Bill. Information to
follow" - helped offset worries about further delay in stimulus
spendings. A source later said he had approved the bill Japan's Nikkei .N225 inched up 0.4%. MSCI's broadest index
of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2%,
though trade is slow with many markets still closed for holiday.
"It is positive for markets that we no longer have a chaos
over stimulus, considering there was a chance of a partial
government shutdown," said Masahiro Ichikawa, chief strategist
at Sumitomo Mitsui DS Asset Management.
"But on the other hand, markets have talked about that
stimulus for a long time and I would say most of it has been
already priced in."
Trump had refused to sign into law the pandemic aid and
spending package that the Congress has passed, demanding
stimulus checks for struggling Americans be increased.
Trump's threat to not sign the package had already shuttered
an emergency unemployment aid programme and threatened a partial
federal government shutdown at midnight on Monday. U.S. bond yields edged up in its first trade after
Christmas, with the 10-year U.S. Treasuries yield up 0.6 basis
point at 0.930% US10YT=RR .
The rollouts of COVID-19 vaccines are also bolstering hopes
of more economic normalisation next year, with Europe launching
a mass vaccination drive on Sunday.
That offset alarms over a new highly infectious variant of
the virus that has been raging in the south-east of England and
was confirmed in many other countries, including Japan, France
and Canada, over the weekend.
Major currencies were little changed.
The euro traded at $1.2204 EUR= , a tad below its
2-1/2-year high of $1.22735, while the yen changed hands at
103.56 per dollar JPY= .
The British pound changed hands at $1.3565 GBP=D4 , not far
from a 2-1/2-year high of $1.3625 hit earlier this month after
Britain and the European Union reached an agreement on trade
framework after Brexit.
Bitcoin extended gains over the weekend to reach a new high
of $28,377.94 BTC=BTSP before stepping back to $26,457.32,
bringing the total value of the cryptocurrency in circulation to
over $500 billion.
Oil prices edged down a tad, with U.S. crude futures CLc1
down 0.8% at $47.85 per barrel. O/R
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