The US authorities filed a lawsuit against Facebook - what are the implications?
Asia equities rise after tax reform optimism backs Wall Street
On Friday, Asian shares grew after optimism over American tax reform plans raised Wall Street equities to fresh maximums, and the US currency hovered near a seven-week high because new indicators pointed to firm economic surge.
MSCI's index of Asia-Pacific equities MIAPJ0000PUS tacked on 0.3%, braced for a 1.6% profit on the week.
Japan's Nikkei N225 soared 0.25% having set a fresh two-year maximum. Meanwhile, Australian shares AXJO rallied 0.8%, South Korea's KOSPI added 0.9%.
As a matter of fact, on Thursday, the S&P 500 reported its sixth straight record maximum, which is its longest winning streak since 1997 because market participants appreciated prospects for a tax overhaul with Congress getting closer to an anticipated agreement on a budget resolution.
The latest uptick in American economic optimism raised Treasury yields and also helped take the US dollar index versus a basket of key counterparts to the seven-week maximum.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
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The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!