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- ASX 200 looks to extend its gains with a 0.2% or 13 points higher opening.
- The Dow Jones reached 34,000 mark for the first time ever and closed 0.9% up at 34,063.
- The US dollar index recovered 0.06% after touching a four-week low.
On Thursday, the Australian market made yet another highest high in the 14 months period as the market comfortably breached a stiff resistance zone of 7,000 mark. Yesterday, the benchmark index closed 0.51 % up at 7058.6. Today, the ASX 200 looks to extend its gains with a 0.2% or 13 points higher opening and close the week on a positive note.
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World stock markets marked a five-day winning streak of fresh highs on Thursday, fueled by upbeat earnings and strong U.S. economic data that depicted a robust recovery ahead.
The Dow Jones reached 34,000 mark for the first time ever and closed 0.9% up at 34,063 while S&P 500 was up by 1.11% to a new record high of 4,170.4. NASDAQ also saw a sharp recovery of about 1.3% and inched closer towards its all-time high.
The 10-year U.S. Treasury yield fell below 1.6% to 1.563%, the biggest single-day decline in the benchmark's yield in almost three months that helped fuel renewed buying of technology stocks.
The US dollar index recovered 0.06% after touching a four-week low, while the Australian dollar was up by 0.33 % to $0.7750 against the US dollar after posting its biggest one-day percentage gain since Feb. 19 on Wednesday. Its New Zealand peer was up at $0.7147, highest level since March 23.
The Labor Department noted initial claims for state unemployment benefits plunged to a seasonally adjusted 576,000 for the week ended 10 April, the lowest level since mid-March 2020 and 124,000 below economists estimates.
JPMorgan Asset Management said in a note it was cutting down on its overall exposure in the emerging markets once again, driven by a less optimistic outlook on EM Asia.
Bitcoin is trading flat at US$63,379 around its lifetime high.
Gold prices surged higher
Gold prices surged to its highest level in more than a month as Treasury yields plunged. The US gold Futures settled 1.8% higher at US$1,766.80 an ounce.
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Crude oil traded higher
Oil prices held near a one-month high amid strong US economic data and higher demand estimates from the International Energy Agency.
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