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    Crackdown on farm protests, Tikait holds out in UP Gate standoff | India News

    Week after Cyclone Amphan, Kolkata hit by squall at 96 kmph – india news

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    Sari Baldauf Takes Over as Nokia Chair From Siilasmaa | Technology News

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    Crackdown on farm protests, Tikait holds out in UP Gate standoff | India News

    Week after Cyclone Amphan, Kolkata hit by squall at 96 kmph – india news

    Week after Cyclone Amphan, Kolkata hit by squall at 96 kmph – india news

    Maharashtra, Delhi, Tamil Nadu, Gujarat, Rajasthan, Uttar Pradesh, Bihar

    Maharashtra, Delhi, Tamil Nadu, Gujarat, Rajasthan, Uttar Pradesh, Bihar

    LAC stand-off | Trump surprises with offer to mediate as India, China stress bilateral resolution

    LAC stand-off | Trump surprises with offer to mediate as India, China stress bilateral resolution

    Air travel in India and the US: What has changed?

    Air travel in India and the US: What has changed?

    Mamata petitions PM against ‘whimsical’ scheduling of Shramik trains | India News

    Mamata petitions PM against ‘whimsical’ scheduling of Shramik trains | India News

    After Hard Position On New Map And Rebuke By India, A Change In Nepal

    After Hard Position On New Map And Rebuke By India, A Change In Nepal

    Lockdown: Toddler’s failed attempt to wake up dead mother leaves internet, conscience shaken | India News

    Lockdown: Toddler’s failed attempt to wake up dead mother leaves internet, conscience shaken | India News

    India under Narendra Modi can’t be threatened: Ravi Shankar Prasad on China face-off | India News

    India under Narendra Modi can’t be threatened: Ravi Shankar Prasad on China face-off | India News

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    Mamata seeks PM Modi’s intervention, urges Centre to not pursue politics in times of crisis

    Covid-19 lockdown: 179 stranded Pakistan nationals repatriated from India via Attari-Wagah Border – Economic Times

    Covid-19 lockdown: 179 stranded Pakistan nationals repatriated from India via Attari-Wagah Border – Economic Times

    Scindia ignored ideology as he feared for political future, will not get respect in BJP: Rahul

    Decades later, Nehru remains most hotly debated Indian politician ever

    AgustaWestland accused Michel questioned in Tihar, asked to name ‘prominent politicians’

    AgustaWestland accused Michel questioned in Tihar, asked to name ‘prominent politicians’

  • Business

    Telecoms set the business tone in Myanmar, Telecom News, ET Telecom

    Asian Shares Advance Following Upbeat US Jobs Report | Business News

    Lockdown diaries with Sanjiv Bajaj

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    Boeing begins cutting workforce with 6,770 layoffs in US – business news

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    Stock Market: Live News During the Coronavirus Pandemic

    Patanjali to raise Rs 250 crore through debentures

    Patanjali to raise Rs 250 crore through debentures

    ED takes action against bootleggers, attach assets in Indore

    ED takes action against bootleggers, attach assets in Indore

    Flight services at WB’s Bagdogra airport to resume from tomorrow

    Flight services at WB’s Bagdogra airport to resume from tomorrow

  • Economy

    India’s animal spirits stabilize as virus rages across economy

    The Latest: Trump sees economy rebound by Election Day | Govt-and-politics

    NYC economy & small business series coming to amRUSH next week

    NYC economy & small business series coming to amRUSH next week

    Cramer says the stock market too optimistic about economic recovery

    Cramer says the stock market too optimistic about economic recovery

    The Texas economy is slowly reopening, but our electricity use isn’t showing it

    The Texas economy is slowly reopening, but our electricity use isn’t showing it

    Derby’s Take: New Data Suggests the Economy May Have Seen the Worst of It

    Derby’s Take: New Data Suggests the Economy May Have Seen the Worst of It

    Coronavirus latest: French economy to shrink more than 8% in 2020

    Coronavirus latest: French economy to shrink more than 8% in 2020

    Coronavirus has made digital taxes an even bigger threat to US economy

    Coronavirus has made digital taxes an even bigger threat to US economy

    Stock futures continue rally as economic activity resumes

    Stock futures continue rally as economic activity resumes

  • Technology

    Use of technology, integration yielded top spot for State police: DGP

    Apple Hits Record After December Surge Sends It Past Amazon

    JioPhone 3: What we know about Google – Jio partnered phone

    Airtel says no broadband outage after users reported issues

    Airtel says no broadband outage after users reported issues

    PUBG Mobile Fourex map now available in latest beta for Android, iOS: Report

    PUBG Mobile Fourex map now available in latest beta for Android, iOS: Report

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    Google faces antitrust case in India over payments app – sources

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    Google Pay’s ‘Nearby Spot’ now available in 35 Indian cities

    Sari Baldauf Takes Over as Nokia Chair From Siilasmaa | Technology News

    Sari Baldauf Takes Over as Nokia Chair From Siilasmaa | Technology News

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Asian Shares Advance Following Upbeat US Jobs Report | Business News

by mynews
July 3, 2020
in Business
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By ELAINE KURTENBACH, AP Business Writer

Markets advanced in Asia on Friday following a Wall Street rally driven by strong jobs data.

Tokyo’s Nikkei 225 index picked up 0.3% to 22,211.89, while the Shanghai Composite index jumped 1% to 3,121.74. In South Korea, the Kospi gained 0.4% to 2,142.74, and Australia’s S&P/ASX 200 rose 0.1% to 6,037.60. India’s Sensex added 0.5% to 36,009,96. Shares also rose in Taiwan and Southeast Asia.

Investors appeared to shrug off news of rising numbers of coronavirus patients in South Korea and Japan, where Tokyo reported 124 newly confirmed cases.

The jobs data and improved global indicators are boosting sentiment, along with positive reports on potential vaccines and treatments for the coronavirus that has infected more than 10.8 million people and killed over 520,000, according to data from Johns Hopkins University that experts say understates the tally due to issues with testing and asymptomatic cases.

Such news brought a “favorable turn in the risk merry go round this week as this positive news is currently tempering the seemingly endless negative views around the rapidly-rising new daily virus cases in the U.S.,” Stephen Innes of AxiCorp said in a commentary.

Overnight, the S&P 500 rose 0.5%, its fourth-straight gain, ending the holiday-shortened week with a gain of 4%. U.S. markets are closed Friday in observance of Independence Day.

The Nasdaq composite climbed to another all-time high, aided by more gains in technology companies. Energy companies notched some of the biggest gains as oil prices strengthened on hopes that a recovering economy will mean more demand.

However, news that Florida had another sharp increase in confirmed cases helped cut the S&P 500′s early gains by more than half. The bond market also signaled caution, as yields moved broadly lower.

A recent surge in new confirmed cases of the coronavirus in Florida, Texas and several other states has led some governors to halt the reopening of their economies or to order some businesses, such as restaurants and bars, to re-close. That has dimmed some of the optimism for a relatively quick economic turnaround, especially for travel-related sectors like cruise lines.

Even so, investors continue to bet that the recovery will proceed, despite the worrying rise in new cases.

The S&P 500 rose 14.15 points to 3,130.01. The Dow Jones Industrial Average gained 0.4% to 25,827.36. The Nasdaq climbed 0.5% to 10,207.63. The Russell 2000 index of small company stocks also rose, gaining 0.3% to 1,431.86.

The indexes were up even more at the start of the day’s trading, after the U.S. government said employers added 4.8 million jobs to their payrolls in June for the second-straight month of growth. The unemployment rate remains very high at 11.1%, but last month’s improvement was much better than economists expected.

The pandemic makes collecting data on the economy unusually difficult, but economists say it’s clear that the job market is improving after collapsing in the spring amid widespread shutdowns. That bolsters investors’ hopes that the economy can recover from its recession relatively quickly as governments relax restrictions.

Many workers across the country are still experiencing economic pain, with only about a third of the 22 million jobs lost to the recession recovered so far. And worries are rising that worsening levels of infections in not just Florida but across swaths of the U.S. South and West could choke off the budding economic improvements. Such concerns have held the market in check since early June following a months-long rocket ride.

In other trading, benchmark U.S. crude oil for August delivery slipped 45 cents to $40.20 per barrel in electronic trading on the New York Mercantile Exchange. It rose 83 cents Thursday to settle at $40.65 a barrel. Brent crude oil for September delivery dropped 47 cents to $42.67 a barrel.

The yield on the 10-year Treasury note was steady at 0.67%. It tends to move with investors’ expectations for the economy and inflation.

In currency dealings, the U.S. dollar rose to 107.52 Japanese yen from 107.50 yen. The euro slipped to $1.1234 from $1.1236.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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