Asian stocks were steady early Monday after their U.S. peers climbed toward a record, aided by an American jobs report that eased some fears about the economy running too hot and stoking troublesome inflation.
Shares fluctuated in Japan and edged up in South Korea and Australia. U.S. equity contracts were slightly lower. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.4% to 15,768.50 as of 7:15 a.m.
Bitcoin traded around $36,000 after declining over the weekend amid a cryptocurrency crackdown in China. Crude oil and gold held on to gains.
The U.S. employment report showed an uptick in workers’ pay, adding to the debate about price pressures that has dominated markets. Speculation continues that the U.S. recovery from the pandemic may be strong enough to prompt Federal Reserve discussions in the weeks ahead on tapering asset purchases. Traders are looking ahead to the U.S. consumer-price index report this week for more clues.
Elsewhere, the Group of Seven rich nations secured a landmark deal that could help countries collect more taxes from big firms and enable governments to impose levies on U.S. tech giants such as Amazon.com Inc. and Facebook Inc.
All You Need To Know Going Into Trade On June 7 - BloombergQuint
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