US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
Daily Market Analysis
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.
Asian equity markets failed to sustain the positive tone from Wall Street where all major indices notched gains as technology sector outperformed for another day.
US stocks are set to weaken at the open today, consolidating after gains in the previous session, with investors wary amid few signs of progress over the next virus relief bill.
European stock markets traded mixed early Thursday, with strong industrial data supporting the German market while the Bank of England kept monetary policy unchanged, offering up a more pessimistic outlook.
Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall Street.
The risk of a second wave of coronavirus is more likely to put pressure on rates. Risky assets are supported by fiscal and monetary stimulus.
In the United States, the economy was contracted by (worst-ever) 32.9% in the second quarter in 2020, crushed by COVID-19 lockdowns in 2nd quarter.
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