SINGAPORE/NEW YORK - Asia’s stock markets bounced on Friday following Wall Street’s lead, but were set for their softest week in about a month as investors grapple with tepid economic data and lofty valuations after a huge rally that has wiped out coronavirus losses.
Japan’s Nikkei edged up 0.3% but was headed for a 1.5% weekly drop, while a bond market selloff has also moderated in recent days as caution and summer-time lassitude weighs on the mood after the S&P 500 touched another record intraday peak.“It’s always going to be a little harder, once that’s happened, to figure out where things are going,” said ING’s head of Asia research, Rob Carnell of the U.S. stock market.
The Philadelphia Federal Reserve’s business index also missed expectations and together the weak readings pushed down nominal U.S. yields and dragged on the dollar. Benchmark U.S. 10-year debt yields were last steady at 0.6558%. Sterling reversed losses against the dollar overnight to sit at $1.3122 and the risk-sensitive Australian dollar again sojourned above $0.72. The euro was steady at $1.1864.
I’m kind of just testing out the plateau mark at this point. So volitile. Yeesh
It's all bullshit.
Biden said the economy was not good, but it appears he was wrong. It is getting better.
crooked trump never wants to stop cheating people. This time is on WS. Trillions of dollars for his fake economic recovery programs for the working class, but all goes directly/indirectly to the WS crooks to pump up the S&P market that influences both nyse and nasdaq.
We just need another 4 years of Trump. Market will be lit 🔥
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