Stocks ride relief rally, Sino-U.S. trade a hurdle
Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook.
- Japan’s Nikkei (N225) shot up 2.8 percent.
- Nasdaq (IXIC) 4.26 percent.
- S&P 500 (SPX) jumped 3.43 percent.
- Asia-Pacific shares outside Japan (MIAPJ0000PUS) put on 1.3 percent.
- Shanghai blue chips (CSI300) rose 0.4 percent.
- E-Mini futures for the S&P 500 (ESc1) climbed another 0.4 percent.
- South Korea (KS11) added 1.2 percent.
- Dow (DJI) end Friday with gains of 3.29 percent
- The currency could not even hold early gains on the yen, lapsing back to 108.05.
- The dollar index (DXY) easing 0.2 percent to 95.971.
- The euro (EUR=) was up 0.2 percent, buying $1.136.
- Gold benefited from the diminished risk of U.S. rate hikes and held at $1,288.81.
- Oil prices firmed after Brent bounced about 9.3 percent last week.
- WTI rose 5.8 percent.
- The crude benchmark (LCOc1) rose 71 cents on Monday to $57.75 a barrel.
- U.S. crude futures (CLc1) gained 70 cents to $48.66.