Stock Market Today: Dow, S&P Live Updates for Apr. 1, 2021 - Bloomberg

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Asia stocks rose Thursday as traders assessed U.S. President Joe Biden’s infrastructure plan. Treasuries held losses.

Shares rose in Japan and South Korea, while Hong Kong and China opened higher. U.S. futures edged up after the S&P 500 Index gained and stronger technology stocks drove outperformance in the Nasdaq 100. The dollar stabilized after completing its best quarter in a year.

Ten-year Treasury yields were steady at 1.74% after sealing the worst quarterly performance since 1980 for the Bloomberg Barclays index tracking U.S. government bonds. Oil pared earlier losses after preliminary talks for a meeting of OPEC and its allies offered no signal of output plans.

Investors are turning their attention to the prospects for more government stimulus and the possible impact on growth and inflation. The U.S. president laid out a $2.25 trillion infrastructure plan Wednesday, to be funded with higher corporate taxes, which is likely to face resistance in Congress. The push for more investment in the recovery comes against a backdrop of strong central bank support to keep borrowing costs low.

Read More: Navigating the Recovery Trade Is Getting a Whole Lot Trickier

European Central Bank President Christine Lagarde said Wednesday that policy makers won’t shy away from using all their powers should investors try to push bond yields higher.

Recent economic data are encouraging, as U.S. private employers added the most jobs in six months. In Asia, manufacturing picked up in March after the volatile Lunar New Year period, reflecting a sustained revival in goods production. However, a 28-day lockdown in Canadian province Ontario came as a reminder of the continued threat from the virus’s spread.

“There is still some room for recovery in stocks that will benefit from the economic recovery and the reopening trade,” Ania Aldrich, investment principal at Cambiar Investors LLC, said on Bloomberg TV. “There’s still a lot of growth that has to come and that’s not necessarily reflected in earnings yet.”

Meanwhile, traders are monitoring halts in a number of Hong Kong-listed stocks, with some attributing the move to their failure to report earnings in time.

Some key events to watch this week:

• OPEC+ meets to discuss production levels for May on Thursday.
• China Caixin PMI due Thursday.
• U.S. employment report for March on Friday.
• Good Friday starts the Easter weekend in countries including the U.S., U.K., France, Germany, Australia and Canada.

These are some of the main moves in financial markets:

Stocks

• S&P 500 futures were flat as of 11:00 a.m. in Tokyo. The S&P 500 Index increased 0.4% and the Nasdaq 100 rose 1.5%.
• Topix Index rose 0.6%.
• Australia’s S&P/ASX 200 Index rose 0.4%.
• Hang Seng Index rose 1.1%.
• South Korea’s Kospi Index gained 0.7%.
• Shanghai Composite Index climbed 0.4$.
• Euro Stoxx 50 futures rose 0.2%.

Currencies

• The yen traded at 110.65 per dollar.
• The offshore yuan was at 6.5702 per dollar.
• The Bloomberg Dollar Spot Index was steady.
• The euro traded at $1.1728.

Bonds

• The yield on 10-year Treasuries held at 1.74%.
• Australia’s 10-year bond yield rose seve basis points to 1.86%.

Commodities

• West Texas Intermediate crude rose 0.6% to $59.54 a barrel.
• Gold was at $1,709.67 an ounce.

— With assistance by Romaine Bostick

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Stock Market Today: Dow, S&P Live Updates for Apr. 1, 2021 - Bloomberg
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