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Asia Equities Tick Up, As Investors Look to the US
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.26% after touching its lowest level since mid-December on Monday, weighed down by big Chinese stocks.
Oil Steadies in Undersupplied Market but Coronavirus Cases Weigh
Brent crude futures rose 40 cents, or 0.5%, to end the session at $74.50 a barrel, while U.S. West Texas Intermediate crude slipped by 16 cents, or 0.2%, to settle at $71.91.
Dollar Edges Lower Ahead of Fed, Cryptocurrencies Jump
The greenback is still up nearly 4% since May 25 as an improving U.S. economy bolstered the outlook for the Fed to start paring asset purchases as early as this year.
US Stocks, Dollar Sluggish, All Eyes on Fed Meet This Week
The Dow Jones Industrial Average rose 56.2 points, or 0.16%, to 35,117.74. The S&P 500 gained 4.6 points, or 0.1%, to 4,416.38 and the Nasdaq Composite dropped 13.5 points, or 0.09%, to 14,823.54.
As funds flock to Wall Street, Asian markets have been largely snubbed. MSCI's broadest index of Asia-Pacific shares outside Japan has been trending sideways since March and was up just a fraction on Monday.
Oil Edges Up in Weekly Rebound on Forecasts for Tight Supplies
The price of oil and other riskier assets tumbled at the start of the week on concern over the impact on the economy and crude demand from surging cases of the COVID-19 Delta variant in the United States, Britain, Japan, and elsewhere.
US Dollar Posts Second Week of Gains Ahead of Fed Meeting
The dollar index, which measures the greenback against a basket of six major currencies, was slightly higher on the day at 92.873. For the week, it was up 0.1%, after rising 0.6% previously.