Equity markets lost ground during APAC trade as disappointing US jobs figures weighed on market sentiment. The notable widening of the spread between 2-year and 10-year Treasuries could weigh on US benchmark indices. Fading momentum suggests a short-term pullback could be on the cards for the Dow Jones and Nasdaq 100. Advertisement Asia-Pacific Recap
Equity markets slipped lower during Asia-Pacific trade as a unexpected rise in US jobless claims and climbing bond yields weighed on risk appetite. Australia s ASX 200 plunged 1.34% on disappointing retails sales data, and Japan s Nikkei 225 fell 0.72%.
In FX markets, the cyclically-sensitive AUD and NZD largely outperformed their major counterparts, while the haven-associated JPY and USD drifted marginally lower. Gold and silver prices lost ground as yields on US 10-year Treasuries crept back above 1.3%.
Dow Jones, Nasdaq 100 Forecast: Fading Momentum Could Trigger Pullback menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Dow Jones , S & P 500 , Nasdaq 100 futures gain, main exchanges closed Reflation trade in focus, 10-year Treasury rate climbs, FTSE 100 soars ASX 200 and Nikkei 225 may extend uptrend during Tuesday s session
Monday Wall Street Trading Session Recap
Wall Street may have been closed for the Presidents Day holiday, but that didn t prevent global equities from extending gains over the past 24 hours. Futures tracking the Dow Jones, S & P 500 and tech-heavy Nasdaq 100 climbed to start the week. In Europe, stocks rallied with the Euro Stoxx 50 gaining 1.04%. The UK s benchmark FTSE 100 was a notable standout, soaring 2.52% on Monday.
A lack of major economic event risks meant that the focus for investors largely remained on broader fundamental themes, like fiscal stimulus expectations and vaccine rollouts as expected . The UK hit 15 million Covid-19 vaccinations, prompting calls for Prime Minister Boris Johnson to ease lockdowns, contributing to strong gains in the FTSE 100.