Asian, European Markets Boosted By Rising Recovery Optimism
05/28/21 AT 4:23 AM
Asian and European markets mostly rose Friday to end a broadly upbeat week, with traders welcoming another forecast-beating reading on US jobless claims that reinforced optimism about the recovery in the world s top economy.
There was also some cheer from reports that President Joe Biden is planning a $6 trillion budget proposal for later in the day that includes his vast infrastructure deal and spending on families.
And while the huge outlays are likely to add to inflationary pressures, investors were happier to look past that, opting instead to focus on the economic boost, while Federal Reserve officials as well as Treasury Secretary Janet Yellen continue to argue that any price spikes will be transitory.
Friday, 28 May 2021 04:45 PM MYT
A man walks past an electronic board showing the Nikkei stock index outside a brokerage in Tokyo March 25, 2019. Reuters pic
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HONG KONG, May 28 Asian and European markets mostly rose today to end a broadly upbeat week, with traders welcoming another forecast-beating reading on US jobless claims that reinforced optimism about the recovery in the world’s top economy.
There was also some cheer from reports that President Joe Biden is planning a US$6 trillion (RM24 trillion) budget proposal for later in the day that includes his vast infrastructure deal and spending on families.
Asian markets extend gains as recovery gathers pace timesofmalta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofmalta.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden
Thursday, May 27, 2021 - 07:57 AM
U.S. stock index futures ticked lower ahead of an economic data dump that will reveal the latest durable goods, cap goods orders, jobless claims, GDP, PCE, and Personal Consumption data, amid fears that signs of an improving economy would lead the Federal Reserve to start tapering following comments on Wednesday that the Fed s Quarles is open to talk about adjusting the Fed s bond purchases. At 7:15 a.m. ET, Dow e-minis were up 3points, or 0.01%, and S&P 500 e-minis were down 6.50 points, or 0.16%. Nasdaq 100 e-minis were down 45.5 points, or 0.33%, as tech giants Apple, Amazon.and Tesla slipped between 0.2% and 0.7%.