Stock Market Today: Dow, S&P Live Updates for February 8, 2021

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Global equities hit another record and government bond yields soared after Janet Yellen pushed for rapid US stimulus and coronavirus infections around the world slowed. The dollar was stable after Friday’s decline.

US and European futures advanced after the S&P 500 closed at a record high on Friday. Most Asian stocks climbed. Japan’s Topix index was on track for its highest closing price since 1991 amid a report that officials are considering ending the state of emergency in 10 Japanese prefectures prematurely.

Treasury Secretary Yellen said on talk shows on Sunday that the US could regain full employment by 2022 if it put in place a strong enough aid package. Ten-year Treasury yields rose to 1.2%. The pace of US inflation implied by the bond market rose to its highest level since 2014, when crude oil prices rose.

Global equities hit a new record as risk aversion plunges to pre-pandemic lows

Investors take comfort in the ongoing rollout of vaccines and data indicating a downward trend in infections in countries like the US and Germany. A yardstick from Citigroup Inc. global risk aversion has fallen to the lowest level since the pandemic first markets last year.

While weaker-than-expected US job data on Friday added to the fragility of the recovery as the pandemic continues, it also highlighted the case for further stimulus.

“Risk sentiment brightened as anticipation of the US stimulus package grows,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. to strengthen the US economy. “

Here are some important events coming up:

  • The earnings season continues with companies such as Honda Motor, SoftBank Group, Cisco Systems, Commonwealth Bank of Australia, Societe Generale, Commerzbank and L’Oréal.
  • The EIA crude oil inventory report comes Wednesday.
  • Sweden will set monetary policy on Wednesday.
  • Federal Reserve Chairman Jerome Powell will speak at a webinar on Wednesday.
  • The US consumer price index comes out Wednesday.
  • Lunar New Year holidays begin in countries all over Asia and China begins for a week.
  • The Bank of Russia’s policy decision comes Friday.

These are the main movements in markets

Shares

  • S&P 500 futures added 0.4% from 2:02 pm in Tokyo. The meter rose 0.4% on Friday.
  • The Japanese Topix index rose 1.5%.
  • Hong Kong’s Hang Seng index rose 0.6%.
  • South Korea’s Kospi index fell 0.4%.
  • The Australian S & P / ASX 200 index rose 0.8%.
  • The Shanghai Composite Index rose 1.1%.
  • Euro Stoxx 50 futures gained 0.8%.

Currencies

  • The Bloomberg Dollar Spot Index went up.
  • The yen was at 105.50 per dollar, down 0.1%.
  • The offshore yuan was 6.4526 per dollar, up 0.1%.
  • The euro bought $ 1.2037, down 0.1%.

Bonds

  • The yield on 10-year government bonds rose to 1.19%.
  • Australia’s 10-year return increased more than six basis points to 1.26%.

Raw materials

  • West Texas Intermediate Crude Oil rose 1.1% to $ 57.47 a barrel.
  • Gold had changed little at $ 1,811.56 an ounce.

– With the help of Sophie Caronello, Joanna Ossinger and Cormac Mullen

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