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
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.