USA
– U.S. stock benchmarks rebounded sharply Friday afternoon in whipsaw trade, as the rise in bond yields steadied, after a stronger-than-expected monthly jobs update from the Labor Department that offered evidence of an economy recovering from the effects of COVID-19.
– For the week, the Dow gained 1.8% and the S&P 500 added 0.8%. The Nasdaq was 2.1% lower for the week, but Friday’s rebound put it back above water for the year to date, if barely.
–
– The 10-year Treasury note yield briefly jumped to around 1.62% but rebounded to close at 1.57%.
– The Dow rose by 572 points to close at 31,496
– The S&P rose 73 points to 3,842
– The NASDAQ rose 197 points to 12,920
– Dow futures were up overnight by 98 points
ASIA
– Asian stocks climbed Monday on optimism over President Joe Biden’s $1.9 trillion Covid-19 relief plan and the global recovery.
– Shares rallied in Japan, Australia and South Korea, while S&P 500 Index futures edged higher. The U.S. stimulus moved to the House after the Senate passed the legislation, while data showed China’s exports jumped.
– In Japan, the Nikkei 225 rose by 1.23%
– The Topix index was up by 0.97%
– Stocks in Australia (S&P/ASX 200) were up by 1.69%
EU
– European equities closed lower on Friday as bond yields rose on inflation expectations that were pushed up by strong U.S. payrolls data, although the STOXX 600 index marked a weekly gain on strength in growth-sensitive sectors.
– The pan-European STOXX 600 dropped 0.95% on the day, with shares of travel and financial services firms leading losses.
– FTSE and DAX were down by 0.31% and 0.96% respectively while CAC was down by 0.82%.
OIL
– Crude oil prices continued surging on Friday after OPEC+ shocked the world on Thursday by keeping the deep oil production cut in place. This was the most bullish outcome as market players didn’t expect Saudi Arabia to stick to its voluntary production cuts.
– Brent crude traded positive on Friday by 4.29% to settle at $69.60 per barrel. In early morning trade Brent crude futures were trading above $70 per barrel after Saudi Arabia said one of the world’s most protected oil facilities came under attack.
– WTI Futures up by 1.95% in early morning trade were per barrel. Brent
GOLD
– Gold traded flat to close at $1,699 an ounce
– Gold futures were trading up by 0.32% at $1,704 an ounce in early morning trade
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