BEIJING (Reuters) – Asian stocks were lower on Wall Street on Thursday as investors watched Washington for signs that political leaders could agree on a bailout two weeks before the Nov. 3 presidential election.
On Wall Street, S&P 500 lost 0.2% on Wednesday as US political leaders faced with financial assistance after the end of the additional unemployment benefits that increased consumer spending. Democrats are pushing Republicans to expand a proposed package.
House Speaker Nancy Pelosi said she had made progress in talks with the White House. However, a possible deal could face opposition in the Senate, where majority leader Mitch McConnell told Republicans that he had warned the White House not to reach a relief deal before the election.
On Wall Street, the S&P 500 fell to 3,435.56. The Dow Jones industrial average lost 0.4%. The Nasdaq Composite fell 0.3% to 11,484.69.
Stocks of industrial and healthcare declined. Communication services were acquired. Social media inventories rose after the photo service, Snap reported higher-than-expected revenue and users.
Google’s parent company rose 2.3%, adding its profits from the day before, when the Justice Department sued it for antitrust breaches. Investors were already expecting such action, analysts said Google Counter-arguments mean that it will take years to reach a solution.
In the energy markets, US crude oil lost 26 cents at $ 39.77 a barrel in electronic trading on the New York Mercantile Exchange. The stock fell 1.67 cents to $ 40.03 a barrel on Wednesday. Brent crude, the benchmark price for international oil, fell 24 cents to $ 41.49 a barrel in London. The contract fell $ 1.43 in the previous session to $ 41.73 a barrel.
The dollar rose to 104.67 Japanese yen from Wednesday’s 104.54 yen. The euro fell to $ 1.1850 from $ 1.1862.
Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul have fallen.
“Tax incentive optimism has faded,” Mizuho Bank said in a report.
The Shanghai Composite Index lost 0.7% at 3,302.55 and the Nikkei 225 in Tokyo fell 0.6% to 23,489.51. The Hang Seng in Hong Kong fell 0.1% to 24,719.12.
Kospi in Seoul was 0.7% lower at 2,353.28 and Sydney’s S & P-ASX 200 was down 0.3% at 6,173.80.
India’s Sensex opened 0.2% at 40,623.74. New Zealand, Singapore and Jakarta also retreated while Bangkok moved on.
Markets are moving between optimism for the possible development of a coronavirus vaccine and uncertainty about the US economic prospects without an aid package.