Japan’s Nikkei rose 1.3 per cent as a survey showed big manufacturers’ mood bouncing back to pre-pandemic levels. — Reuters picSINGAPORE, April 1 — Stocks crept higher today following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a US$2 trillion US government spending plan and hoped for strong jobs data later in the week.
On the heels of a US$1.9 trillion pandemic relief package, President Joe Biden yesterday outlined a broad plan to re-make the world’s biggest economy including spending on roads, railways, broadband, clean energy and semiconductor manufacture. It is not clear if the plan could clear Congress, since it has had an icy reception from Republicans, however, the breadth of the proposed spending did help draw investors back to technology shares overnight, and the Nasdaq rose 1.5 per cent.
This has come with growing concern about hiccups in the vaccine rollout and a fresh wave of coronavirus infections, particularly in Europe where yesterday France ordered a third national lockdown. Investors are jittery about the fallout from the fire sale of holdings by stricken asset manager Archegos Capital, which has walloped the stocks involved and shares in some of Archegos’ brokers, Credit Suisse and Nomura.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, China to assess Phase 1 deal soon, Biden trade chief says | Malay MailWASHINGTON, May 5 — US Trade Representative Katherine Tai said today she expects to engage “in the near term” with Chinese officials to assess their implementation of the “Phase 1” trade deal between the two countries, with the outcome to influence the fate of Washington’s punitive...
Source: malaymail - 🏆 1. / 86 Read more »
Biden says US must invest because China ‘eating our lunch’ | Malay MailLAKE CHARLES, May 7 — President Joe Biden warned Thursday that Congress needs to adopt his multi-trillion dollar spending plans to renew the US economy because China is “eating our lunch.” Speaking in deep-Republican Louisiana, Biden pitched his US$2.3 trillion (RM9.5 trillion) infrastructure...
Source: malaymail - 🏆 1. / 86 Read more »
US stocks end at records as weak jobs data boost stimulus hopes | Malay MailNEW YORK, May 8 — Wall Street indices ended at fresh records yesterday, while the dollar tumbled after disappointing US jobs data fuelled confidence of continued fiscal and monetary support as the economy recovers from Covid-19. Economists had projected the economy would add a million positions...
Source: malaymail - 🏆 1. / 86 Read more »
Dollar rebounds as US yields rise; Fed, Biden speech eyed | Malay MailLONDON, April 28 — The US dollar edged higher today as investors moved to the sidelines ahead of a US Federal Reserve policy statement and a speech by Joe Biden later in the day where the US president is set to announce more stimulus plans. Though the greenback recovered from a one-month low hit...
Source: malaymail - 🏆 1. / 86 Read more »
Biden speech draws 26.9 million viewers on US TV networks | Malay MailLOS ANGELES, April 30 ― President Joe Biden's first address to Congress on Wednesday night attracted an estimated 26.9 million viewers across 16 US television networks, according to Nielsen ratings data released yesterday. Biden's audience slumped nearly 44 per cent below the TV viewership for...
Source: malaymail - 🏆 1. / 86 Read more »