Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Asian stocks set to rise as focus swings to recovery prospects

share with twitter share with LinkedIn share with facebook
07/08/2020 | 08:04pm EDT
A man wearing protective face mask walks in front of a stock quotation board outside a brokerage in Tokyo

By John McCrank

Asian stocks were expected to rise on Thursday, as hopes of a robust economic recovery offset concerns over flare-ups in the coronavirus pandemic, and as investors looked ahead to earnings season.

Australian S&P/ASX 200 futures were up 0.85%, Japan's Nikkei 225 futures added 0.16%, and Hong Kong's Hang Seng index futures rose 0.82%.

E-mini futures for the S&P 500 edged up 0.08%.

"Risk sentiment remains resilient ahead of next week's key earnings reports," said NAB economist Tapas Strickland.

He singled out earnings from JPMorgan, Citigroup, and Wells Fargo on Tuesday, as well as tech heavyweights of Microsoft and Netflix on Thursday.

Demand for technology stocks lifted U.S. shares and helped the Nasdaq add 1.44% to 10,492.50, its fourth record closing high in five days.

The Dow Jones Industrial Average rose 0.68% and the S&P 500 gained 0.78%.

MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> closed 1.29% higher, helped by Chinese stocks, which have rallied for seven-straight days. Emerging market stocks rose 1.67%.

Gold also gained. Concerns over the pandemic and the extraordinary amounts of fiscal and monetary stimulus unleashed around the world to counteract its economic impact led some investors to seek safety in the yellow metal, which soared past the $1,800, its highest level since September 2011.

The passing of the key technical threshold for gold came as the U.S. coronavirus outbreak crossed a grim milestone of over 3 million confirmed cases, and as seven states reported record numbers of new infections.

In separate appearances, three U.S. Federal Reserve officials said the pace of the economic recovery may be stalling, though another, St. Louis Fed President James Bullard, said on CNBC he felt many lost jobs will be regained by year's end.

Global coronavirus cases exceeded 12 million on Wednesday, according to a Reuters tally.

Investors will look to U.S. jobless claims on Thursday for the latest snapshot of U.S. recovery.

In China, inflation readings are on tap and expected to show factory-gate prices continued their declines in June.

(Reporting by John McCrank; Editing by Sam Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 1.70% 53.76 Delayed Quote.-32.71%
DJ INDUSTRIAL -0.38% 27686.91 Delayed Quote.-2.62%
HANG SENG 1.29% 25228.1 Real-time Quote.-11.65%
JPMORGAN CHASE & CO. 3.16% 103.82 Delayed Quote.-25.52%
NASDAQ 100 -1.89% 10876.079515 Delayed Quote.24.54%
NASDAQ COMP. -1.69% 10782.822689 Delayed Quote.20.18%
NIKKEI 225 0.41% 22843.96 Real-time Quote.-3.83%
S&P 500 -0.80% 3333.69 Delayed Quote.3.19%
S&P/ASX 200 -0.11% 6132 Real-time Quote.-8.16%
WELLS FARGO & COMPANY 2.51% 25.32 Delayed Quote.-52.94%
share with twitter share with LinkedIn share with facebook
Latest news "Companies"
09:03aShaun B. Higgins to Join UGAA Board Gerard F. Agoglia to Join UGAA as CFO
BU
09:03aYellowbrick Connector for Tableau Is Now Available
BU
09:03aCONSTELLATION : Accepting Applications for 2020 Energy to Educate Grant Program
BU
09:03aBuy a coffee, help change a life. Today is Tim Hortons® annual Camp Day, supporting virtual Tim Hortons Foundation Camps™
BU
09:03aThe Los Angeles County Development Authority Partners with Ready to Offer COVID-19 Testing to Seniors Living at South Bay Gardens
BU
09:03aCAREISMATIC BRANDS : Donates Classroom Branded School Uniforms to Families in Need
BU
09:03aPCT LTD : Provides Update of Authorized Distributors and Supplemental Registrants
BU
09:03aMary Beth Laughton Joins Impossible Foods' Board of Directors
BU
09:02aDEERE & CO : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
AQ
09:02aPioneering Endosurgery New Mission Statement at Lumendi
BU
Latest news "Companies"