Stock market bull run continues, sterling faces Brexit test

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Asian markets were set to rise Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.

TOKYO: Asian shares rose to a record high and U.S. stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.

Euro Stoxx 50 futures rose 0.45per cent, German DAX futures were up 0.37per cent, and FTSE futures in London added 0.48per cent.U.S. S&P 500 e-mini stock futures rose 0.23per cent after shares on Wall Street notched new record highs on Tuesday, boosted by positive vaccine news and seeming progress on U.S. stimulus talks.

"The next 24 hours will be critical and is likely to cause market volatility depending on what is or isn't agreed."The Dow Jones Industrial Average rose 0.35per cent on Tuesday, the S&P 500 gained 0.28per cent and the Nasdaq Composite added 0.5per cent. Meanwhile, Pfizer Inc cleared another hurdle when the U.S. health regulator released documents flagging no new safety or efficacy concerns.

Against a basket of currencies the dollar sat at 90.802, which is just above a two-and-a-half-year low it hit on Friday as optimism about vaccines lured short sellers.

 

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