Wednesday, July 6, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home U.S. Markets

Asian markets gain after U.S. stocks rally on infrastructure deal

MtR by MtR
June 25, 2021
in U.S. Markets
0


TOKYO — Asian shares rose Friday, buoyed by the rally on Wall Street that came after President Joe Biden announced a bipartisan deal on infrastructure spending.

Japan’s benchmark Nikkei 225
NIK,
+0.66%

jumped 0.8% in morning trading. South Korea’s Kospi
180721,
+0.44%

gained 0.7% and Australia’s S&P/ASX 200
XJO,
+0.45%

edged up 0.5% as Sydney went into lockdown amid a worrying surge in COVID-19 cases. Hong Kong’s Hang Seng
HSI,
+1.41%

added 1%, while the Shanghai Composite
SHCOMP,
+1.19%

rose 0.4%. Stocks slipped in Malaysia
FBMKLCI,
+0.27%

but advanced in Singapore
STI,
-0.02%
,
Taiwan
Y9999,
+0.55%

and Indonesia
JAKIDX,
+0.83%
.

“The breakthrough in infrastructure spending talks overnight has lifted sentiments, with spending plans historically being a positive for the markets,” said Yeap Jun Rong, market strategist at IG in Singapore. “Sectors leaning towards economic recovery and reopening may see strength.”

In Tokyo, Panasonic Corp.
6752,
+4.93%

jumped after a report that it has sold its entire stake in Tesla Inc.
TSLA,
+3.54%

for nearly $4 billion.

A recovery in the U.S. economy is a boon for this export-driven region. Although the vaccine rollout in Asia has lagged most parts of U.S. and Europe, the perk from an overseas recovery is likely to come long before herd immunity against the coronavirus pandemic.

On Wall Street, the S&P 500 marked another record high, beating the peak it set early last week. Stocks added to their gains in the afternoon after Biden announced the infrastructure deal, which is sure to benefit companies in the construction industry.

The plan, costing $973 billion over five years, is the culmination of months of talks, and a larger spending plan from Biden is still possible later this year.

Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, said the proposed agreement is favorable for industrials, financials and energy stocks, although “the general re-opening of the economy and renewed, post-Covid-19 economic growth is the most likely driver” of the market going forward.

The S&P 500 index
SPX,
+0.58%

rose 24.65 points, or 0.6%, to 4,266.49. The Dow Jones Industrial Average
DJIA,
+0.95%

rose 322.58 points, or 1%, to 34,196.82. The Nasdaq
COMP,
+0.69%

added 97.98, or 0.7%, to 14,369.71.

Markets have calmed since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists.

The super-low rates the Fed engineered to carry the economy through the pandemic have propped up prices across markets, and any change would be a big deal, so the Fed’s announcement triggered selling of stocks and a rise in Treasury yields last week. However that selling reversed this week. The three major indexes are all up more than 2% this week and are once again near records.

In energy trading, benchmark U.S. crude
CLQ21,
+0.07%

rose 14 cents to $73.44 a barrel. Brent crude
BRNQ21,
+0.07%
,
the international standard, gained 16 cents to $75.72 a barrel.

In currency trading, the U.S. dollar
USDJPY,
-0.10%

rose to 110.91 Japanese yen from 110.87 yen.

MarketWatch contributed to this report.



Source link

Related articles

Credit Suisse cuts S&P 500 target again for 2022 as U.S. stocks sink

July 5, 2022

Why U.S. Stocks Are Trading Lower; Tesla Shares Drop After Price Target Cut At JPMorgan

July 5, 2022

Related Posts

Credit Suisse cuts S&P 500 target again for 2022 as U.S. stocks sink

by MtR
July 5, 2022
0

Credit Suisse Group analysts have again cut their price target for the S&P 500 index, lowering their estimate for the...

Why U.S. Stocks Are Trading Lower; Tesla Shares Drop After Price Target Cut At JPMorgan

by MtR
July 5, 2022
0

U.S. stocks traded sharply lower this morning, after the major indices closed another losing week. The Dow Jones gained around...

US Dollar Index Hits 52-Week High: Impact On Indian Stock Market, FII Outflow

by MtR
July 5, 2022
0

News oi-Kuntala Sarkar | Published: Tuesday, July 5, 2022, 14:54 US Dollar index hits 52-week high level and stood at...

Power Breakfast: Good Cues From Global Markets, US Treasury Yield Rises Near 3%, Dow Futures Jumps 100 Points

by MtR
July 5, 2022
0

zeenews.india.com understands that your privacy is important to you and we are committed for being transparent about the technologies we...

US market returns from holiday break [Video]

US market returns from holiday break [Video]

by MtR
July 4, 2022
0

The week is about to get started for real as the US market returns from the long holiday weekend. Overall,...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

The Government of Canada Supports Innovative New Product Line at Tafisa Canada, Improves Domestically Sourced Building Materials

July 6, 2022

Live news updates: Rishi Sunak says ‘standards are worth fighting for’

July 6, 2022

Short Interest in Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE:MSD) Expands By 18.2%

July 6, 2022

Fight or flight? What rising interest rates, inflation and volatile markets mean for investors

July 5, 2022

Recent News

The Government of Canada Supports Innovative New Product Line at Tafisa Canada, Improves Domestically Sourced Building Materials

July 6, 2022

Live news updates: Rishi Sunak says ‘standards are worth fighting for’

July 6, 2022

Short Interest in Morgan Stanley Emerging Markets Debt Fund, Inc. (NYSE:MSD) Expands By 18.2%

July 6, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter