GLOBAL MARKETS-Stocks rise to records in anticipation of U.S. stimulus plan; yields up

GLOBAL MARKETS-Stocks rise to records in anticipation of U.S. stimulus plan; yields up

Reuters  | Jan 15, 2021 02:00

GLOBAL MARKETS-Stocks rise to records in anticipation of U.S. stimulus plan; yields up

* Dow, Nasdaq hit record highs
* MSCI all-country world index also hits record
* U.S. bond yields slightly higher
* Biden to unveil stimulus proposal

(Adds European stocks close, MSCI global index hits record
By Caroline Valetkevitch
NEW YORK, Jan 14 (Reuters) - World stocks indexes climbed to
record levels and U.S. bond yields edged higher on Thursday as
investors focused on U.S. President-elect Joe Biden's pandemic
aid proposal.
On Wall Street, the Dow and Nasdaq rose to record highs,
while MSCI's all-country world index also hit an all-time high.

Biden is expected later on Thursday to unveil a stimulus
package proposal designed to jump-start the economy during the
coronavirus pandemic. "For a while investors have been looking forward to what the
picture might be like once the vaccine is fully distributed and
the worst parts of the pandemic over," said Rick Meckler,
partner at Cherry Lane Investments, a family investment office
in New Vernon, New Jersey.
"There is a little bit of a fear of 'sell on the news' that
when (stimulus) is actually introduced, it won't be as large as
some people like or it's possible that the market will start to
look at how it's going to be paid for."
The Dow Jones Industrial Average .DJI rose 125.07 points,
or 0.4%, to 31,185.54, the S&P 500 .SPX gained 8.97 points, or
0.24%, to 3,818.81 and the Nasdaq Composite .IXIC added 54.24
points, or 0.41%, to 13,183.19.
European shares gained for a third straight session. The
pan-European STOXX 600 index .STOXX rose 0.72% and MSCI's
gauge of stocks across the globe .MIWD00000PUS gained 0.47%.
Earlier, the Hong Kong-listed shares of Chinese tech giants
Alibaba 9988.HK , Tencent 0700.HK and Baidu 600865.SS all
rose sharply after sources told Reuters and the Wall Street
Journal that plans to extend a U.S. investment ban to the firms'
stocks had been scrapped. In the currency market, the dollar index =USD fell 0.243%,
with the euro EUR= up 0.12% to $1.2171.
Bitcoin BTC=BTSP held gains after a slide of nearly
$12,000 from last week's record high of $42,000. It briefly hit
$40,000 on Thursday. Benchmark 10-year Treasury notes US10YT=RR last fell 1/32
in price to yield 1.09%, from 1.088% late on Wednesday.
Since the beginning of the month, 10-year yields have
climbed more than 20 basis points. Oil prices were lower as surging global coronavirus cases
and new lockdowns overshadowed bullish signals from Chinese
import data and U.S. crude oil stocks draws.
Spot gold XAU= added 0.6% to $1,854.16 an ounce.

Global assets
Global currencies vs. dollar
Emerging markets
MSCI All Country World Index Market Cap
US, euro area inflation expectations
Mixed fortunes for Chinese firms facing U.S. blacklist worries

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