Mainland Chinese stocks were down by the early morning. The Shanghai Composite was up by 1.42% to 3,477.86. Hong Kong’s Hang Seng Index was up about 0.96% to 27,983.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading up 2.16 per cent at 28,035.63 on Friday while the Australian Index S&P / ASX 200 rose 0.95 percent to 7,048.71. South Korea’s Kospi was up by 0.97% to 3,152.98.
The FTSE MIB climbed up by 0.14% to 24,486.46. In the cash markets, the DAX futures Germany was trading 0.33% higher at 15,199.25. CAC 40 futures in France climbed up by 0.14% to 6,288.57, while the FTSE 100 futures in the U.K was down by 0.59% to 6,963.63 at the time of writing.
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.29% up at 34,021.38 the S&P 500 was up 1.22% to 4,112.56 and the Nasdaq 100 was up 0.72% at 13,124.03.
In the Forex market, GBPUSD was down 0.05% at 1.4043. The USDJPY was up 0.12% at 109.70. The USDCHF was down 0.05% at 0.9086. EURUSD was down 0.08% at 1.2087, EUR/GBP was up 0.13% at 0.8605, at the time of writing.
In the commodity market, U.S. Gold futures fell 0.07% at $1,822.85. Elsewhere, Silver futures fell 0.01% to $27.058 per ounce, Platinum rose 0.71% at $1,219.05 per ounce, and Palladium was up 0.77% at $2,886.50.
Brent crude oil was down 0.40% to $66.78 barrel while U.S. West Texas Intermediate (CLc1) fell 0.31% at $63.62.
In the Cryptocurrency Markets, BTCUSD fell 2.56% at $49,235.9 , Ethereum at 3,803.41 down by 2.59%, Litecoin at 313.582 down 2.58%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Alibaba ADR down 6.28% at 206.08. Apple Inc. up 1.79% at $124.77 , Amazon.com up 0.30 % at $ 3,161.49, TESLA Inc down 3.09% at $571.04, SAP down 0.50% at 111.980, Microsoft down 2.94% at $239.18 , Adidas down 0.68% at 284.65.
Democratic Senator Martin Heinrich on Thursday introduced a bill that would help states that rely on oil and gas revenue weather the U.S. transition away from fossil fuels by offering federal support to help fill gaps in state and school budgets hit by a decline in oil and gas production.
The Schools and State Budgets Certainty Act would provide “energy transition payments” to states that rely on revenue from federal mineral leasing as a result of changes in U.S. policy to give them time to invest in new industries, the New Mexico senator said.
President Joe Biden signed an executive order in January pausing new oil and gas leasing on federal lands and waters that account for around 25% of the nation’s petroleum production pending a review of its impacts, a move that has been seen as a first step to the permanent ban he promised during his campaign.
“The global energy landscape is undergoing a massive transformation, and states like New Mexico need to be ready,” said Heinrich, adding that the bill offers these states a “glidepath” to move away from their reliance on extractive industries.
His bill would set a baseline mineral revenue amount for each fiscal year based on a historical average of federal mineral revenue that would decline by 5% each year. The federal government would then pay a state or county the difference between the actual mineral payment and the baseline.
Europe is not facing the kind of inflation concerns seen in the United States and the current mix of monetary and fiscal policy is appropriate, European Central Bank Governing Council member Yannis Stournaras said on Thursday.
“I think both fiscal and monetary policy are the right mix,” Stournaras told the Delphi Economic Forum in Athens.
He said that despite signs that financial markets were predicting inflation, in Europe models showed that “we have not yet to worry about inflation or not to worry as perhaps in the United States.”
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