Asian stocks were mixed Friday after a rally in U.S. shares and Treasuries on bets that a jump in inflation is likely to be transitory, leaving scope for ongoing central-bank support.
Equities edged up in Hong Kong and dipped in Japan and China. European and U.S. contracts crept higher following a climb in the S&P 500 to a record overnight and a technology rally that boosted the Nasdaq 100. Meme-stocks favored by day traders, such as GameStop Corp., plunged.
The 10-year U.S. Treasury yield held most of a drop to 1.43%, its lowest point since March. The yield had briefly jumped in U.S. hours on above-forecast gainsin consumer prices. The dollar retreated.
The U.S. CPI increase in May was driven largely by categories associated with a broader reopening of the economy, as vaccinations bring the pandemic under control. Despite some signs of wider price pressures, concerns about a spike in longer term borrowing costs that could destabilize global markets have eased.
US After Hours Bipartisan senators reach infrastructure deal; VRTX -13.2% falls on clinical data; PGEN +32.3% jumps on data; PLAY +4.4% higher on earnings but CHWY -1.5% ticks lower
Nikkei +0.01% Hang Seng +0.37% CSI -0.87% Shanghai -0.43% Shenzen -0.50%
Eur$ 1.2188 CNH 6.3826 CNY 6.3685 JPY 109.40 GBP 1.4180 CHF 0.8938 RUB 71.7755 TRY 8.4286 WTI$69.94 -0.50% Gold 1,899.40 +0.05% BTC 36;830 ETH 2475 -3
S&P +0.06% Nasdaq +0.12% EuroStoxx +0.19% FTSE +0.21% Dax +0.08% SMI -0.09%
Macro :
- Druckenmiller Tells CNBC Fed Giving False Sense of Security
- U.K.’s Johnson Likely to Delay Final Stage of Covid Reopening
- Southern Europe Telcos Have Lines Open for $1 Trillion EU Fund
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