Stocks climbed to another all-time high Thursday and U.S. and European equity futures rose on optimism that fiscal spending will revive economic growth and bolster corporate earnings. The dollar weakened.
Asian shares rose for a third session as South Korea outperformed. Hong Kong’s Hang Seng index topped 30,000 points for the first time since May 2019 before dipping. India’s S&P BSE Sensex reached a record above 50,000 points.
The rises in Asia followed fresh record highs on Wall Street overnight. The Dow Jones Industrial Average rose 0.83%, the S&P 500 gained 1.39% and the Nasdaq Composite added 1.97%.
S&P 500 futures edged higher after the index posted its best first-day reaction to a presidential inauguration since at least 1937. Nasdaq 100 contracts outperformed.
In China, the nation’s three biggest telecommunications firms said they requested a review of the New York Stock Exchange’s decision to delist their shares. Separately, Twitter Inc. locked the official account of the Chinese embassy to the U.S., citing a violation of its “dehumanization” policy.
The yen was steady after the Bank of Japan kept its main policy settings unchanged. Oil dipped on concerns over lackluster consumption. Aluminum extended a rebound from the lowest in two months after Alcoa Corp. said it expects less volatility and improved markets in 2021.
In commodity markets, oil prices eased on an unexpected rise in U.S. crude stocks, though hopes for an economic revival kept losses in check. U.S. West Texas Intermediate crude dipped 0.24% to $53.18 a barrel. Brent crude fell 0.16% to $55.99 per barrel.
Spot gold rose 0.15% to $1,873.77 per ounce.
Story compiled with assistance from Bloomberg, Reuters