GLOBAL MARKETS-Oil slips on COVID-19, data woes; stocks rebound

* Rising infections in India rattle energy markets
* Treasury yields little changed after 20-yr auction
* Japan stocks post 2% overnight drop

(Updates prices, analyst comment)
By Rodrigo Campos
NEW YORK, April 21 (Reuters) - World stocks rose on
Wednesday as Wall Street and Europe bounced back from large
drops, while oil prices continued to be weighed down by rising
COVID-19 cases in Asia.
Concern that record coronavirus infections in India, likely
restrictions in Japan and rising cases in Latin America will be
a hurdle for the global economic recovery has weighed on
investor sentiment, though the S&P 500 closed just 12 points
below its record close.
On Wall Street, a 7% drop in Netflix NFLX.O weighed on the
Nasdaq but indexes bounced back from their largest declines in a
month.
"You take Netflix out of today's equation, it's simply a
broad-based rally," said JJ Kinahan, chief market strategist at
TD Ameritrade.
The Dow Jones Industrial Average .DJI rose 316.01 points,
or 0.93%, to 34,137.31, the S&P 500 .SPX gained 38.48 points,
or 0.93%, to 4,173.42 and the Nasdaq Composite .IXIC added
163.95 points, or 1.19%, to 13,950.22.
MSCI's gauge of stocks across the globe .MIWD00000PUS
gained 0.41% and the pan-European STOXX 600 index .STOXX rose
0.65%.
Emerging market stocks lost 0.80%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.88%
lower, while Japan's Nikkei futures NKc1 rose 0.86% after a 2%
overnight drop in the Topix .TOPX .
Oil prices were weighed by concerns that surging COVID-19
cases in India will drive down fuel demand in the world's
third-biggest oil importer and by a surprise build in U.S.
stockpiles.
"Demand jitters were thrust back into the spotlight
yesterday (Tuesday) amid a sharp rise in global coronavirus
cases. Nowhere is this more obvious than in India," PVM analysts
said.
U.S. crude CLc1 fell 2.49% to $61.11 per barrel and Brent
LCOc1 was at $65.07, down 2.25% on the day.
In currency markets, the dollar dipped and was in a tight
range throughout the session, not far from the more than
six-week low hit intraday on Tuesday.
The dollar index =USD fell 0.111%, with the euro EUR= up
0.02% to $1.2035.
The Japanese yen strengthened 0.03% versus the greenback at
108.06 per dollar, while Sterling GBP= was last trading at
$1.3927, down 0.06% on the day.
U.S. Treasury yields were little changed even after an
auction of 20-year bonds showed strong demand, a pattern
analysts expect to persist until next week's data releases and
Federal Reserve meeting.
Benchmark 10-year notes US10YT=RR last rose 2/32 in price
to yield 1.5573%, from 1.562% late on Tuesday.
The 20-year bond US20YT=RR last rose 5/32 in price to
yield 2.1372%, from 2.147%.
Spot gold XAU= added 0.9% to $1,794.03 an ounce. Silver
XAG= gained 2.62% to $26.55 an ounce.

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