Equities:
The S&P 500 and the Dow Jones Industrial Average both closed at a record high on Thursday as investors eyeing the injection of the $1.9 trillion stimulus package. The strong Tech rally saw the Nasdaq Composite jumped 2.52%. The Dow Jones Industrial Average (US30) climbed 0.58% and the S&P (US500) rose 1.04%.
According to the president of world markets at TIAA Bank, equity markets are headed to new highs fuelled predominantly by the stimulus money, and the $1.9 trillion packages are more broad-based compare to the previous stimulus packages.
Bonds & Yields:
Treasury yields on Thursday were a touch lower. The US 10-year yields fell 1 point to 1.53% and the US 2-year yields fell 1 point to near 0.143%.
Forex:
The US dollar weakened against major currencies on Thursday. The Euro (EURUSD) rose from lows around $1.1916 to highs near $1.1990. The Australian dollar (AUDUSD) rose from lows around $0.7723 to highs near $0.7794. The Japanese yen (USDJPY) was weaker against the dollar from lows near 108.36 yen per dollar to highs near 108.81 yen per dollar.
Commodities:
The weaker dollar saw commodity prices higher overnight. The encouraging numbers on jobless claims for employment insurance signaled for faster economic recovery. Global oil prices were higher, with brent rose 2.39% to $69.52 per barrel. WTI crude rose 2.28% to $65.91 per barrel.
Metals:
Spot gold (XAUUSD) was steady near $1720 an ounce. Iron ore rebounded by $6.35 to $171 a tonne.
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