Global stocks hover near record high, oil skids on demand outlook

Asian shares stalled near record highs on Friday as investors weighed renewed doubts about a highly-anticipated coronavirus vaccine against hopes that some of the region’s economies will recovery quicker than their Western peers.

Asian Shares

  • MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.04% but remained with striking distance of a life-time peak touched this week.
  • Australian shares ended down 0.53%. Treasury Wine Estates (OTC:TSRYF) Ltd tumbled by 11.25% after China slapped tariffs on Australian wine, which is likely to worsen a diplomatic row between Beijing and Canberra.
  • Japan’s Nikkei rose 0.33% in choppy trade.
  • U.S. S&P 500 e-mini stock futures fell 0.09%. U.S. financial markets were closed on Thursday for the Thanksgiving holiday and will trade on a partial schedule later on Friday.
  • Euro Stoxx 50 futures were down 0.26%, German DAX futures fell 0.24%, and FTSE futures were down 0.22%, suggesting a soft start to the European session.

Currency Markets

  • The dollar index fell toward its lowest in more than two months.
  • The yield on benchmark 10-year Treasury notes fell to 0.8586% as some investors sought the safety of holding government debt.
  • U.S. crude dipped 1.82% to $44.88 a barrel. Brent crude fell 0.17% to $47.72 per barrel.
  • The euro, which last bought $1.1924, showed little reaction because currency traders have largely priced in expectations for additional ECB easing next month.

Oil Prices

  • U.S. crude dipped 1.82% to $44.88 a barrel.
  • Brent crude fell 0.17% to $47.72 per barrel.

Cryptocurrencie

  • Bitcoin, the world’s biggest cryptocurrency, edged up to $17,256 on Thursday, but it tumbled by 8.4% in the previous session after failing to take out its record high of $19,666.
  • The cryptocurrency showed little reaction to a report in the Financial Times that Facebook will launch its own Libra digital currency in limited format next year.
  • Bitcoin has rallied around 140% this year, fuelled by demand for riskier assets.

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