NEW YORK (Reuters) – Investors in Asia were expecting small gains on Thursday, after Wall Street booked a choppy day due in part to a disappointing private jobs report indicating slowing economic activity.
“Markets are quite likely to muddle through from here,” said Michael Frazis, portfolio manager at Frazis Capital Partners in Sydney. “The vaccine is increasingly priced in. A couple of months ago, no one knew how deep coronavirus would be, or what the outcome of the election was. Now both sources of uncertainty have been removed, and it’s pretty supportive of markets.”
MSCI’s gauge of stocks across the globe gained 0.09%. Nikkei futures were up about .07% and Hong Kong’s Hang Seng index futures rose 0.23%. Read more…..
Chart of the Day
Is cash still king? The coronavirus pandemic may cause a drastic decline in cash usage due to the risk of contamination. The unprecedented surge in the demand for contactless payment has also shown outstanding performances for major companies offering cashless payment methods, like Apple, Square and Paypal.