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·         Dow futures rise more than 100 points as Wall Street looks set to extend Wednesday’s gains

U.S. stock futures rose in early morning trade Thursday after the market’s blue-chip average set another record high during the regular session.

Futures contracts for the Dow Jones Industrial Average added 142 points, or 0.44%. Those for the S&P 500 climbed 0.6% higher while Nasdaq 100 futures jumped 1.11%.

The move in futures came after the Dow jumped 464 points to a record closing high on Wednesday. The S&P 500 rose 0.6%, while the Nasdaq Composite ticked down slightly as the rotation away from growth stocks resumed.

 

·         Asia stocks soar as receding inflation worries bolster confidence

Asian stocks extended their rebound from a two-month low on Thursday after a report on U.S. consumer prices calmed concerns about inflation and lifted the Dow Jones Industrial Average to a record close.

Relative calm in the Treasuries market also helped risk sentiment, with the benchmark yield settling at around 1.5% after shooting to a one-year high above 1.6% last week as investors worried about the U.S. economic recovery running too hot.

Europe looked set to continue the global rally with Euro Stoxx 50 futures 0.2% higher after the index touched a more than one-year top on Wednesday

Britain’s FTSE futures rose about 0.4%. MSCI’s gauge of stocks across the globe gained 0.28%.

 

·         Japanese shares end higher as cyclicals rally; heavyweights' decline caps gains

Japanese shares closed higher on Thursday as investors picked up beaten-down cyclical stocks, although gains were capped by investors cutting their positions in some index heavyweights.

The Nikkei index ended up 0.6% at 29,211.64, while the broader Topix edged up 0.27% to

The Nikkei had rallied to a 30-year high last month on expectations of an economic rebound and better-than expected corporate earnings.

China stocks jump on better-than-expected bank lending data, Sino-US meeting in focus

 

·         China stocks jumped on Thursday, as better-than-expected February bank lending data lifted market sentiment and relieved some policy tightening worries.

Official data showed that new bank lending in China fell less than expected in February from January as the central bank sought to cool credit growth to contain debt risks while maintaining support for ailing small firms.

At the close, the benchmark Shanghai Composite index was up 2.36% at 3,436.83, posting its best day since Oct. 12, 2020. The blue-chip CSI300 index was up 2.49% to 5,128.22, recording its best session in nearly two months.

·         European markets slightly higher after approval of U.S. Covid stimulus; ECB in focus

European stocks opened modestly higher Thursday, as markets react to positive momentum stateside following the final approval of President Joe Biden’s $1.9 trillion Covid relief bill.

The pan-European Stoxx 600 climbed 0.4% in early trade, with basic resources jumping 1.9% to lead gains while banks bucked the trend to shed 0.4%.

 

 

Reference: CNBC, Reuters