S&P 500 Hovers at Record High, Hang Seng and Nikkei 225 Eye Pullback
S&P 500, HANG SENG, NIKKEI 225, ASIA-PACIFIC MARKET OUTLOOK:
The S&P 500 index closed marginally higher as tech gained, but two thirds of the stocks fell
Asia-Pacific indices look set to pull back slightly from their recent highs
Southbound inflow in HK via stock connections fell for a second day, risking a pullback in the HSI
S&P 500, Hang Seng, Earnings, Asia-Pacific Stocks Outlook:
Asia-Pacific stocks look set to open broadly lower after Wall Street saw a mixed trading session. The S&P 500 index edged marginally higher, led by heavy-weight information technology (+1.32%), consumer discretionary (+0.55%) and communication services (+0.26%), while two thirds of its constituents finished lower. Investors are perhaps looking for fresh catalysts to support Wall Street’s record-breaking rally when stock market valuations are close to two-decade highs.
Nasdaq Hits Record High as Biden Takes Office, Hang Seng Eyes 30,000
NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:
A “risk-on” rally extended on Wall Street, backed by strong earnings and Biden’s inauguration
The Hang Seng Index looks set to extend gains beyond the 30,000 mark, led by the tech sector
BoJ, ECB interest rate decisions and US weekly jobless claims are in focus today
Nasdaq 100, US Earnings, Hang Seng, ASX 200, Asia-Pacific at Open:
US equities registered strong gains overnight as President Joe Biden’s inauguration brightened the prospects for fiscal stimulus and measures to be put in place to counter the pandemic. Prior to this, Treasury Secretary nominee Janet Yellen showed her support for Biden’s US$ 1.9 trillion fiscal spending plan and opposed tax hikes, which may lend more support to stock markets’ rally.
Dow Jones Up on Yellen Stimulus Push; Hang Seng and ASX 200 May Climb
DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
Treasury Secretary nominee Janet Yellen backed Biden’s stimulus plan, sending stocks higher.
US earnings continued to be upbeat; Netflix smashed new subscriber growth forecasts.
Asia-Pacific markets lookset to advance further after Tuesday’s rally.
Dow Jones, Yellen, US earnings, Asia-Pacific at Open:
US equity indices finished broadly higher on Tuesday after Treasury Secretary nominee Janet Yellen showed her support for Biden’s US$ 1.9 trillion fiscal stimulus plan and addressed a market-driven dollar exchange approach in her confirmatioilyauat25n hearing on Tuesday. She also highlighted the need for higher unemployment compensation while opposing tax hikes to help families to weather the pandemic. Yellen’s comments revitalized reflation hopes and lifted crude oil prices, which led the energy sector (+2.63%) to outperform.
A sour lead from Wall Street may set a downbeat tone for Asia-Pacific markets on Monday against the backdrop of a strengthening US Dollar. Investors are anticipating a strong Chinese Q4 GDP figure .
ASX 200, Hang Seng Index Eye China Trade Data. S&P 500 on the Defensive
S&P 500, HANG SENG, ASX 200 INDEX OUTLOOK:
An uninspired US trading session offers little clue for the Hang Seng and ASX 200 indexes
China import and export growth data may set the tone for Asia-Pacific and European trading
Treasury yields retreated for a second day; US Dollar rebounded. US earnings season kicks off
S&P 500, China Trade Balance, ASX 200, Asia-Pacific at Open:
US equity indices hovered near their record highs overnight, underpinned by stimulus hopes, a gradual rollout of Covid vaccines and falling Treasury yields that help alleviate pressure on risk assets in general. Trading was tilted to the defensive side, with utilities (+1.94%), real estate (+1.39%) and information technology (0.65%) leading the gains. Meanwhile, cyclical-linked materials (-1.06%), industrials (-0.86%) and energy (-0.79%) trailed.