In Asian Equity Markets tech stocks rose on Thursday, following their U.S.-listed peers, though broader gains were capped by the strength of the U.S. dollar as investors bet on interest rates rising more quickly in the United States than other major economies. Japan’s Nikkei rose 0.8 percent, helped by gains in tech stocks such as Sony, which rose 1.5 percent, while Hong Kong’s bruised tech index snapped six sessions of losses to gain 0.85 percent, versus a 0.25 percent gain in the local benchmark. Heavyweight Alibaba, up 2.7 percent, was among the leaders.

In Currency Markets the U.S. dollar traded near its highest in over a year to the euro and close to a five-year peak against the yen as a hawkish tilt by Fed policymakers, buoyed by solid U.S. data, contrasted with more dovish monetary outlooks in Europe and Japan. The dollar was little changed at 115.355 yen, holding close to the overnight high of 115.525, a level not seen since January 2017. The euro added 0.13 percent to $1.1215. Sterling rose 0.14 percent to $1.33465. The risk-sensitive Australian dollar edged up 0.06 percent to $0.7201 and the New Zealand dollar was little changed at $0.6870.

In US Equity Markets stocks finished higher in choppy trading on Wednesday ahead of the U.S. Thanksgiving holiday as U.S. Treasury yields hovered near the year’s highs. The Dow fell 0.02 percent to end at 35,807.48 points, while the S&P 500 gained 0.23 percent, to 4,701.54. The Nasdaq Composite climbed 0.44 percent, to 15,845.23. Nvidia rallied 2.9 percent as it bounced back from a selloff in Big Tech stocks early this week, helping to offset losses in retailers. Nordstrom fell 29 percent and Gap shed 5.7 percent following disappointing earnings.

In Commodities Markets oil prices were largely steady on Wednesday as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves and turned their focus to how producers will respond. Brent crude settled down 0.07 percent, at $82.25 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 0.14 percent, at $78.39. Spot gold fell 0.3 percent to $1,784.30 per ounce. Among other precious metals, spot platinum gained 0.8 percent to $976.94 per ounce, palladium rose 0.4 percent to $1,876.39. Silver fell nearly 1 percent to $23.42.

In European Equity Markets stocks rose on Wednesday with shares of Telecom Italia leading gains, but fears around Europe’s worsening COVID-19 situation and the prospect of severe restrictions restrained the market. The pan-European STOXX 600 index climbed 0.1 percent after recording its worst session in nearly two months on Tuesday amid a continental resurgence in coronavirus cases and fears of rising interest rates. Telecom Italia rose 15.6 percent, following news reports that KKR is considering boosting its offer for the company after top investor Vivendi called the initial one too low.

In Bond Markets U.S. Treasury yields hovered near highs for the year in choppy trading after data released Wednesday suggested the job market and consumer spending continue to improve. The yield on 10-year Treasury notes was down 1.2 basis points to 1.653 percent after rising as much as 3 basis points earlier in the day, near its high for the year of 1.74 percent reached in March. The yield on the 30-year Treasury bond was down 4.2 basis points to 1.981 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 3.4 basis points at 0.642 percent.

User Auto Log Out 3 Hours Register |