Economic data from the U.S. and China this week underscored the long road ahead to a full global recovery, sapping optimism spurred by progress in developing a coronavirus vaccine.
“Data released over the last 24 hours seriously questions the speed of any post-Covid-19 economic recovery,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “The numbers illustrate the economic challenges posed by secondary infection outbreaks.”
Elsewhere, oil traded flat along with gold.
These are the main moves in markets:
- Futures on the S&P 500 added 0.3% as of 10:22 a.m. in Tokyo. The index slipped 0.3% on Thursday.
- Japan’s Topix index slid 0.3%.
- Hong Kong’s Hang Seng rose 0.7%.
- The Shanghai Composite added 0.1%.
- South Korea’s Kospi index rose 0.5%.
- Australia’s S&P/ASX 200 Index slipped 0.1%.
- Euro Stoxx 50 futures advanced 0.2%.
- The yen was at 107.26 per dollar, little changed.
- The offshore yuan traded at 6.9963 per dollar.
- The euro bought $1.1382.
- The yield on 10-year Treasuries remained at 0.62%.
- Australia’s 10-year yield slipped one basis point to 0.87%.
- West Texas Intermediate crude oil slid 0.1% to $40.73 a barrel.
- Gold was at $1,796.98 an ounce, little changed.