(Reuters) – World equities are set to rise again in Asian trade on Tuesday after another record day on Wall Street.
The Japanese Nikkei 225 futures contract increased by 0.15%, e-mini futures contracts for the S&P 500 increased by 0.04% and the Australian S & P / ASX 200 futures market increased by 0.12% in the early dissertation.
MSCI’s broadest index of Asia-Pacific stocks outside Japan was last 0.04% higher at 720.5.
The early action came after another day of so-called reflection trading around the world in which world markets offered stocks, cryptocurrencies, oil and gold, while U.S. treasury yields were nearly 11 months high and the dollar stable.
Expectations have risen that inflation will increase as governments and central banks continue with massive spending and easy monetary policies until officials are confident that their economy will recover from the coronavirus pandemic.
“Reflection due to the US fiscal stimulus and positive vaccine news remains the main theme for markets,” National Australia Bank strategists wrote.
Wall Street reached its all-time high on Monday as the Nasdaq Composite added nearly 1% and the S&P 500 and Dow Jones Industrial Average rose about 0.75%.
Cryptocurrency bitcoin rose more than 15% on Monday to another record high of $ 45,000 after Tesla Inc said it had invested about $ 1.5 billion in the virtual currency and expects to use it as payment for its cars in the future. accept.
Oil prices rose more than 2% on Monday to their highest levels in more than a year, with Brent hitting more than $ 60 a barrel.
“There’s a sense that the amount of oil supplies is disappearing faster than anyone might have thought,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “There seems to be a paradigm shift in the market.”
Spot gold rose more than 1% to $ 1,830.17 per ounce on Monday as expectations of a major US economic stimulus package boosted its attractiveness as an inflation hedge.
The dollar index stabilized on Monday after stumbling at a weaker-than-expected job report late last week, and last a bare 0.04% lower at 90,964.
Against the yen, the dollar was flat at 105.22.
Reporting by David Henry in New York; Edited by Lisa Shumaker