Asian shares advanced on Monday backed by investors’ confidence over U.S. earnings. Investors heavily anticipate a prosperous earnings season, with most companies expected to surpass forecasts now that outlooks had been lowered by COVID-19 lockdowns.
MSCI’s broadest index of Asia-Pacific shares outside Japan rallied with a 0.15% gain. This followed after a five-month high record last week brought by an increase in Chinese stocks.
Japan’s benchmark index Nikkei jumped 1.3% as South Korea hiked 0.9%. E-mini futures for the S&P 500 jumped 0.2% despite an increase in new coronavirus cases monitored in some parts of the U.S.
Technology stocks were seen struggling even as bank shares recorded a sharp gain on Friday. In addition to this, analysts at the Bank of America noted that tech outperformance in the past six months was the strongest record since 1999 and 2008.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...