The S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financial stocks, keeping Wall Street’s benchmark index near record levels.
Asian stocks started off on a weak footing on Tuesday after a largely soft performance on Wall Street and as persistent concerns over the spread of the Delta variant of the coronavirus dented sentiment and triggered falls in metals and oil prices.
Gold was down on Friday morning in Asia, but remained near the key $1,800 mark as investors await the latest U.S. jobs report.
The dollar was up on Friday morning in Asia in the run-up to the latest U.S. jobs report. The data could see the U.S. tighten its monetary policy earlier than Europe and Japan, where the prospect still remains distant.
U.S. crude oil futures were on track for their biggest weekly decline since late October on Friday, with prices coming under pressure as top consumers impose travel restrictions amid the spread of the Delta variant of the coronavirus.
The S&P 500 and Nasdaq closed at record highs Thursday, as optimism on progress of the infrastructure bill through Congress, and expectations for a strong monthly jobs report due Friday supported investor sentiment on stocks.