Gold was down on Friday morning in Asia but was hovering close to a more-than-one-month peak reached during the previous session. An unpleasant surprise jump in the number of U.S. jobless claims also pushed gold towards a weekly gain of over 1%.
Oil prices edged up in early Asian trade on Friday, supported by a weaker dollar, as investors weighed rising supplies and the impact on fuel demand from the COVID-19 pandemic.
The S&P 500 closed at all-time highs for the second straight day Thursday, as big tech continued to ride the fall in bond yields after Federal Reserve Jerome Powell indicated that “unevenness” in the recovery will keep easy monetary policy on the Fed’s menu for some time.
Asian equities are set for a choppy trading session on Friday after technology stocks lifted the S&P 500 to a new record even as investors weighed an unexpected rise in the number of Americans filing new claims for unemployment benefits.
The U.S. dollar traded near more than two-week troughs versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve’s March policy meeting offered no new catalysts to dictate market direction.
Oil prices fell on Thursday after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand for crude weakening in the world’s biggest consumer of the resource at a time when supplies around the world are rising.