Stocks in Asia were poised to follow U.S. equities lower after an unexpected rise in jobless claims rekindled concern the economic
recovery has stalled. Treasuries rose.To get more news about
Expert 24 Trade, you can visit wikifx news official website.
The first uptick in jobless claims since March comes as Congress
negotiates a new relief package for millions of Americans who are set to
lose enhanced benefits at the end of the month. Other worrying signs of
the U.S. economy slowing added to concern that the growth in some areas
will peter out.
“The recovery is in place, but the labor market is really, really
fragile,” said Gene Goldman, chief investment officer at Cetera
Financial Group. “That‘s going to weigh on the markets and it’s going to
weigh on consumers for a long time.”
Elsewhere, the yield on 10-year Treasuries fell to 0.58%. Crude ticked
up, while precious metals continued their torrid run of gains that have
taken gold and silver prices to multi-year highs.
In Europe, the yield on Italy‘s benchmark bonds fell below 1% for the
first time since March amid euphoria over the Europe Union’s pandemic
recovery package.
Former New York Fed President William Dudley discusses the state of
the U.S. economy and need for further stimulus for citizens and
businesses.
