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DJ News Highlights: Top Global Markets News of the Day

· 02/05/2021 01:00
Bond Market Volatility Boosts Online Trading PlatformsThe Biden Administration's Elusive Stimulus Goal: Full EmploymentU.S. Unemployment Claims Slip Below 800,000Yellen Says 'We Need to Act Big' on Covid ReliefBank of England Cuts 2021 U.K. Growth Forecast Despite Vaccine DriveIndia Central Bank Keeps Key Lending Rate UnchangedRegulators Say Market Infrastructure Was Resilient in GameStop FrenzyTikTok Rival's Stock Nearly Triples in Hong Kong DebutStocks Rise to Records as Jobless Claims FallPartisan Pressures Weigh Heavily as Senate Looks for Covid-19 Relief Deal

Ninety-four members belong to the party that won their state's presidential contest. With more voters siding with a single party, it may mean many lawmakers have less flexibility to make deals with the opposing party.

The S&P 500 and Nasdaq rose to new highs after filings for U.S. unemployment benefits showed a decline from the previous week, with investors watching for signs that the economic recovery remains under way.

Shares in Kuaishou nearly tripled from their IPO price in early trading, implying a market value of more than $160 billion, versus nearly $61 billion when the share sale was priced.

The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.

The Reserve Bank of India kept its lending rate unchanged, while saying that the outlook for growth has improved significantly.

Officials held their benchmark interest rate steady at 0.1%, echoing the wait-and-see stance of other major central banks.

Treasury Secretary says President Biden wants to advance a new coronavirus relief package with bipartisan support but that the administration must act forcefully with a deal that supports families and businesses.

Jobless claims fell for the third straight week. While still elevated, the latest report is a sign that layoffs have started to ease following an increase in early January.

Before the pandemic, low joblessness boosted prosperity without overheating the economy and igniting inflation. Getting back there is the top economic aim of the Fed and White House. "The longer that you allow that high unemployment to fester, the more scarring it has."

Average daily trading volume on Tradeweb's online bond trading platform topped $1 trillion in January. Other firms are also seeing a surge in trading.

(END) Dow Jones Newswires

February 05, 2021 01:00 ET (06:00 GMT)

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