U.S. equity futures climbed and Asian stocks were mixed Monday following another record high for the S&P 500 Index as weak jobs data reinforced the case for stimulus. Gasoline and crude oil rose after a cyberattack forced the closure of a key U.S. pipeline.
The materials sector led gains in an Asia-Pacific share index as commodities advanced. Australian stocks ended at an all-time high, while Hong Kong and China dropped. Gasoline jumped as much as 4.2% to a three-year high before paring the increase, with U.S. operator Colonial Pipeline providing no timeline for a restart following a shutdown late Friday due to a ransomware attack.
Iron ore futures surged and copper jumped to a record amid growing bets they’ll be among the biggest winners from a commodities boom. Treasury yields edged up toward 1.60% as traders brace for a busy week of auctions.
Meanwhile, China’s onshore yuan hit its strongest level versus the dollar since 2018. The pound touched a 10-week high after U.K. elections denied Scotland’s main independence party an outright majority and strengthened the grip of the Conservatives.