Bloomberg) -- U.S. futures edged higher while most Asian stocks climbed as investors digested Friday’s unexpectedly strong jobs report. Bonds steadied from earlier losses.
S&P 500 futures rose 0.1%, adding to Friday’s gains when payrolls data showed U.S. employers added the most jobs in seven months. Treasuries pulled back from a selloff last week, with the benchmark 10-year yield steadying around 1.71%. The pound appreciated to a two-week high against the dollar as Prime Minister Boris Johnson pushed ahead with plans to reopen the economy.
A benchmark of Asian stocks advanced, with increases in Japan and South Korea. Shares in India slumped the most in five weeks with more than 100,000 new Covid-19 cases recorded in 24 hours. Many markets were closed for holidays, including China and Hong Kong, as well as much of Europe.
Oil fell after OPEC+ leaders decided to boost production and as the spike in Indian Covid-19 infections underscored risks to energy demand.
Investors are following the debate over U.S. President Joe Biden’s $2.25 trillion infrastructure proposal, as Republicans expressed guarded support for a more limited plan. The response so far in bond markets has been muted, with inflation concerns easing amid doubts over the viability more-generous spending, even as central banks remain committed to keeping interest rates lower for longer.
Submitted April 05, 2021 at 07:03AM by BucephalusINTL3 https://ift.tt/31Pp1US
