Stock Market – Stock Market Today: Dow, S&P Live Updates for Jan. 4, 2020
Stocks are set to enter the new year at a record high when the first day of trading for 2021 kicks off in Asia Monday. Bitcoin’s relentless rally continued.
The S&P 500 Index and Dow Jones Industrial Average closed at all-time highs on Dec. 31. Most markets around the world were shut on Jan. 1. Bitcoin topped $34,000 Sunday just weeks after passing another major milestone. The dollar opened mixed against its G-10 peers as trading started in Sydney. The pound dipped as the UK. faces a tighter lockdown to stem the march of the coronavirus.
China’s stocks will be in focus after the New York Stock Exchange said it will delist China Mobile Ltd., China Telecom Corp Ltd. and China Unicom Hong Kong Ltd. to comply with a U.S. executive order that imposed restrictions on companies identified as affiliated with the Chinese military. China’s benchmark CSI 300 Index closed at a five-year high last week.
Equities are beginning the new year at rich valuations amid expectations that widespread vaccine distribution in 2021, central bank support and government aid will reignite economic growth and boost corporate profits. The MSCI World Index of stocks ended at a record high after having risen 14% last year.
Meanwhile, the frenzy in cryptocurrencies shows no signs of slowing down. Bitcoin advanced about 50% in December for the biggest monthly jump since May 2019.
OPEC warned of risks to the oil market from the resurgent pandemic, a day before the group and its allies meet to consider another increase in production.
On the coronavirus front, the U.S. vaccine rollout is picking up speed after a slow start and could be fully on track within a week or so, said Anthony Fauci, the nation’s top infectious disease expert. New York’s cases slowed a day after the state passed 1 million total infections. UK. Prime Minister Boris Johnson said tougher lockdown measures in England, including school closures, will probably be needed as cases of the new virus variant continue to surge.
These are the main moves in markets:
- The S&P 500 Index rose 0.6% Thursday.
- Nikkei 225 futures were little changed, earlier.
- Australia’s S&P/ASX 200 Index futures fell 1.2% earlier.
- Hong Kong’s Hang Seng Index futures fell 0.2% earlier.
- The yen was at 103.21 per dollar.
- The offshore yuan rose 0.1% to 6.4963 per dollar.
- Bloomberg Dollar Spot Index rose 0.1% Thursday.
- The euro rose 0.2% to $1.2231.
- The British pound slipped to $1.3663.
- The yield on 10-year Treasuries fell one basis point to 0.91%.
- West Texas Intermediate crude was little changed at $48.52 a barrel.
- Gold was at $1,898.67 an ounce.
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