ECONOMY

All You Need To Know Going Into Trade On May 21

Asian stocks climbed early Friday after technology companies led a Wall Street rebound on economic optimism and easing concern about the possibility of reduced U.S. stimulus.

Shares rose in Japan, South Korea and Australia. Overnight, nearly all major industry groups in the S&P 500 climbed, while gains in Apple Inc. and Tesla Inc. helped the Nasdaq 100 rally past its 50-day moving average.

A drop in U.S. initial jobless claims put the focus back on the economic recovery and away from fears that price pressures imperil loose financial conditions. Contracts on the tech-heavy gauge and the S&P 500 edged up.

Treasury yields maintained a retreat. Weaker-than-expected demand for an auction of 10-year inflation-protected debt suggested confidence in the Federal Reserve’s narrative that the recent acceleration in inflation is unlikely to be sustained. A pause in this year’s commodity boom continued.

Gold is around the highest price in more than four months. Its claimed virtual rival, Bitcoin, steadied after a volatile cryptocurrency slump this week.

Oil trimmed a drop but remains around the lowest in nearly a month. Traders were assessing the likelihood of a renewed nuclear deal with Iran and the potential removal of sanctions on the country’s crude exports.

Continue Reading. Read more on Markets by BloombergQuint.

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