Asian Stocks to Open Higher; Dollar Advances: Markets Wrap from freemexy's blog

Asian Stocks to Open Higher; Dollar Advances: Markets Wrap

Asian stocks looked poised for gains Tuesday after a technology-fueled rally in the U.S. amid positive economic data and the potential for further stimulus. The dollar climbed.To get more news about WikiFX, you can visit wikifx news official website.
  With investors attuned to any potential for more economic stimulus, U.S. stocks got a boost after the White House was said to be exploring whether President Donald Trump can act on his own to extend enhanced unemployment benefits. A slowdown in the rate of coronavirus infections in a number of states also boosted sentiment.
  “Momentum begets more momentum, and the markets have been overbought we believe, but the demand to buy has been there,” said Bob Phillips, managing principal at Spectrum Management Group. “Theres a big desire from both parties to get some kind of stimulus passed. The way the market is reacting, I think the market is expecting that.”
  Meanwhile, tension between the U.S. and China continue to simmer. Trump said TikTok will have to close its U.S. operations by Sept. 15 -- unless there‘s a deal to sell the social media network’s American operations.

  Iain Stealey, chief investment officer of fixed income at JPMorgan Asset Management International, discusses where to find value in bond markets.

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By freemexy
Added Aug 8 '20


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