GLOBAL MARKETS-Asia shares poised to open lower, gold at fresh record

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

By Chris Prentice
WASHINGTON, Aug 4 (Reuters) - Asia shares were set to open
lower on Wednesday, following a choppy trading session on Wall
Street and losses in Europe.
Hong Kong futures HSIc1 edged down 0.07%. Australian
shares were also poised to open lower as COVID-19 rose in the
country. Nikkei futures NKc1 were trading 0.3% below the
Nikkei 225 index's .N225 previous close. Spot gold XAU= rose in early trade and touched a fresh
record of $2,025.76 per ounce. Prices have soared 33% so far
this year.
Wall Street shares ended higher after choppy trade as hopes
mounted U.S. leaders would agree on another coronavirus stimulus
package. The Dow Jones Industrial Average .DJI gained 0.62%,
the S&P 500 .SPX rose 0.36% and the Nasdaq Composite .IXIC
added 0.35%.
White House negotiators late Tuesday vowed to work "around
the clock" to reach a spending deal by the end of the week, but
the Treasury Secretary warned they were not "going anywhere
close" to the $3.4 trillion Democratic leaders sought.

U.S. lawmakers missed a deadline last week to extend the
$600 per week enhanced unemployment payments. The payments are
key element of the Democrats' proposal, but Senate Republicans
have proposed to significantly slash the benefits.
"U.S. consumer spending was stalling in July with the extra
unemployment payments. Without the extra payments, U.S.
consumer spending could fall in August," Commonwealth Bank of
Australia economists said in a note.
The stimulus expectations on Tuesday sent gold prices above
the key $2,000 mark for the first time in history and lifted
crude oil futures LCOc1 to their highest since March.
Bullion also got a boost as treasury bond yields fell to new
lows, National Australia Bank analysts said on Wednesday. The
five-year treasury yield hit a record low and the benchmark
10-year Treasury yield dropped to a five-month trough,
indicating dim investor outlook for the U.S. economic recovery.
In Europe, shares slid. Spirits maker Diageo Plc DGE.L and
German drugs and pesticides group Bayer BAYGn.DE reported
disappointing earnings. Goldman Sachs said it expects coronavirus travel
restrictions to hit FY20 results and the forward view of Qantas
QAN.AX and Air New Zealand AIR.NZ , both due to report
results later this month. Senior U.S. and Chinese officials will review a trade deal
and likely air mutual grievances in an increasingly tense
relationship during an Aug. 15 videoconference, sources said.
China's U.S. envoy on Tuesday said Beijing does not want
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Tracking the spread of the novel coronavirus https://graphics.reuters.com/CHINA-HEALTH-MAP/0100B59S39E/index.html
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