Home Markets Stocks Eye Steady Open; Oil in Focus on OPEC+ Spat: Markets Wrap

Stocks Eye Steady Open; Oil in Focus on OPEC+ Spat: Markets Wrap

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(Bloomberg) — Asian stocks look set for a steady start Monday after U.S. shares climbed further on speculation the Federal Reserve has scope to continue providing substantial stimulus support. Oil is in focus amid the OPEC+ spat.

Futures were little changed in Japan and Australia and rose in Hong Kong. U.S. contracts opened little changed. The S&P 500 reached a record for a seventh straight day Friday after a jobs report signaled the U.S. recovery is gaining steam, but not at a pace that would prompt the central bank to taper stimulus quickly.

Treasuries gained and the dollar dipped after the jobs report was seen as supporting the Fed’s accommodative stance. The greenback was little changed early Monday, and trading may be subdued with U.S. markets closed for the July 4 Independence Day holiday. Investors are also awaiting the Federal Open Market Committee minutes later this week for clues on the policy outlook.

Oil remains in the spotlight over an…

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