* MSCI world stocks index rises for 4th day
* Copper at 6-month highs on supply fears
* USD index little changed; euro and yen dip
(Updates prices, changes comment, byline, dateline; previous
LONDON)
By Rodrigo Campos
NEW YORK, July 2 (Reuters) - World stocks rose for a fourth
straight day on Thursday after U.S. payrolls increased by a
record 4.8 million in June, but the dollar and Treasury debt
prices also edged up, which suggested lingering concern about
rising COVID-19 cases in many U.S. states.
New cases shot up by nearly 50,000 in the United States on
Wednesday, according to a Reuters tally, marking the biggest
one-day spike since the start of the pandemic. Several states, along with some other parts of the world,
are reversing or pausing reopenings to tackle a recent surge in
infections, leaving analysts worried about another selloff in
financial markets if the damage mounts.
June's job survey was taken just as the spike in COVID-19
cases started to accelerate.
"The strong rebound would normally be an unambiguously
positive sign that a recovery is under way (but) it is being
accompanied by a sharp rise in new infections, which was what
caused the collapse in the first place," said Mike Bell, global
market strategist at JP Morgan Asset Management in London.
"It is therefore too soon to say for certain that this
recovery in employment sounds the all-clear for investors."
The Dow Jones Industrial Average .DJI rose 226.33 points,
or 0.88%, to 25,961.3, the S&P 500 .SPX gained 27.43 points,
or 0.88%, to 3,143.29 and the Nasdaq Composite .IXIC added
104.17 points, or 1.03%, to 10,258.79.
The pan-European STOXX 600 index .STOXX rose 1.97% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
1.19%. Emerging market stocks rose 2.29%.
Overnight, MSCI's broadest index of Asia-Pacific shares
outside Japan .MIAPJ0000PUS closed 2.32% higher, while Japan's
Nikkei .N225 rose 0.11%.
Oil futures prices rose, supported by the U.S. employment
numbers and Wednesday's drawdown in crude inventories, but the
spike in U.S. coronavirus infections fanned concerns that
economic activity will weaken in coming weeks. O/R
U.S. crude CLc1 was up 1.03% to $40.23 per barrel and
Brent LCOc1 was at $42.61, up 1.38% on the day.
Treasury yields ticked lower despite the strong jobs data.
Benchmark 10-year notes US10YT=RR last rose 3/32 in price
to yield 0.6726%, from 0.682% late on Wednesday.
The 30-year bond US30YT=RR last rose 1/32 in price to
yield 1.4332%, from 1.434%.
In currencies, the dollar softened after the payroll numbers
but trickled up to positive territory mid-morning in New York,
and has remained little changed since.
The dollar index =USD rose 0.163%, with the euro EUR=
down 0.21% to $1.1226.
The Japanese yen weakened 0.09% versus the greenback to
107.59 per dollar, while Sterling GBP= was last trading at
$1.2459, down 0.09% on the day.
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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Financial markets battle rise of COVID-19 https://tmsnrt.rs/2YUS3C6
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