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DJ Global Stocks Rise Amid Vaccine News and as Investors Wait for U.S. Payrolls Data -- Barrons.com

· 02/05/2021 07:13
By Barbara Kollmeyer

Global stocks rose on Friday, on the heels of a record-setting session for U.S. indexes, as investors cheered positive Covid-19 vaccine news from Johnson & Johnson and waited for all-important nonfarm payrolls data.

The Nikkei 225 index rose 1.5%, though it was a mixed day in Asia elsewhere. The Stoxx Europe 600 Index gained 0.3%, its fifth-straight positive session, as it headed for the best weekly return since November.

S&P 500 futures rose 0.5% and Nasdaq-100 futures added 0.3% , a day after the S&P and Nasdaq Composite hit fresh highs, driven by earnings news and stronger-than-expected weekly jobless claims. Up over 4% and 5%, respectively so far, the S&P and Nasdaq are poised for their best weekly return since the week ended Nov. 6, according to FactSet data.

Investors are being greeted by upbeat vaccine news, after Johnson & Johnson said it was seeking emergency U.S. authorization for its single-dose Covid-19 vaccine. Last week, the medical devices company, whose shares were rising in premarket trading, said its vaccine was 66% effective in preventing moderate to severe cases of the disease.

Investors have also been encouraged by signs of falling cases and deaths on both sides of the Atlantic and hopes that economies will be able to gather strength in coming months.

On Friday , the U.S. Senate approved a budget resolution that will allow for a fast tracking of the $1.9 trillion coronavirus relief plan proposed by the Biden administration to be approved without Republican support.

Investors are waiting for nonfarm payrolls data, with the U.S. expected to have added 55,000 new jobs in January, according to the forecast of economists polled by Dow Jones and The Wall Street Journal. The economy shed 140,000 jobs in December amid the third wave of the Covid-19 pandemic.

Among stocks on the move, shares of Snap fell 7% in premarket trading, after the parent of social media group Snapchat spoke of a tumultuous 2021 with a January interruption in advertising spending and technology changes planned by tech giant Apple.

Shares of Peloton fell 7% in premarket trading, after the maker of interactive fitness equipment posted its first-ever $1 billion revenue quarter, but investments in shipping weighed on earnings as it struggles to meet demand.

GoPro shares fell 12% in premarket trading, after the maker of action cameras posted disappointing revenue for the holiday quarter.

In Europe, shares of Carlsberg rose nearly 3%, after the Copenhagen-based brewer proposed a bigger payout for shareholders following a full-year net-profit beat. It said cost cuts and a strong rebound in its China market helped compensate for weaker volume elsewhere.

(END) Dow Jones Newswires

February 05, 2021 07:13 ET (12:13 GMT)

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