In Asian Equity Markets indices traded higher Thursday after the Dow jumped more than 1,000 points overnight stateside. Stocks in mainland China were among the biggest gainers, with the Shanghai composite up 1.4%. Hong Kong’s Hang Seng index advanced 1.17% as shares of life insurer AIA rose more than 2%. Shares in Australia also rose as the S&P/ASX 200 jumped 1%, with shares of CSL raising 2.89%. In Japan, the Nikkei 225 added 0.75%. South Korea’s Kospi added 0.62% as shares of LG Chem rose about 3%.

In Currency Markets the U.S. dollar recovered lost ground against a basket of currencies on Wednesday, a day after an emergency interest rate cut by the Federal Reserve knocked the U.S. currency to an eight-week low. The Canadian dollar weakened against the greenback on Wednesday after the Bank of Canada slashed its benchmark interest rate to 1.25% from 1.75% due to the coronavirus outbreak and said it was prepared to cut again if needed to support economic growth.

In Commodities Markets oil prices rose more than 1% on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market. Prices were also supported by a lower-than-expected rise in crude oil inventories in the United States, alleviating some concerns of oversupply in the world’s biggest oil consumer. Brent crude rose by 67 cents, or 1.3%, to $51.80 per barrel, while U.S. West Texas Intermediate (WTI) was up by 55 cents, or 1.2%, at $47.33 per barrel.

In US Equity Markets jumped 4%, after former Vice President Joe Biden’s strong showing in the Super Tuesday Democratic primary contests injected a dose of confidence. The S&P 500 gained 4.22%, to 3,130.12 and the Nasdaq Composite added 3.85%, to 9,018.09. All of the 11 major sectors in the S&P 500 posted solid advances, led by healthcare and utilities. Abercrombie & Fitch Co rose 9.0% after beating quarterly sales and profit estimates. Campbell Soup Co’s beat-and-raise earnings report gave a 10.1% boost to its shares.

In Bond Markets U.S. benchmark Treasury 10-year yields climbed above 1% on Wednesday as stronger U.S. equities blunted safety-bid moves to fixed income. Yields hit a session high of 1.043% in afternoon trading after largely staying just below 1% where they landed for the first time ever on Tuesday. Yields on 30-year bonds also rose, reaching a session high of 1.689%. The yield curve continued to steepen on Wednesday, with the spread between the two-year and 10-year widening to 34.40 basis points from 29.8 basis points on Tuesday.