TOKYO/NEW YORK (Reuters) – Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.
Investors are also increasingly expecting the Democrats to take back the White House, and possibly the Senate as well, in the Nov. 3 U.S. election, analysts said.
A widening lead for Democratic Presidential candidate Joe Biden is seen as reducing the risk of a contested election and opening the way for a big economic stimulus, helping to counter investors’ wariness about a Democrat pledge to hike corporate tax rates. Read more…..
Chart of the Day
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CNBC’s Phil LeBeau reports on the drop in airline stocks following the news that President Trump has told Republicans to end stimulus talks with Democrats until after the election.
