* Wall Street supported by rise in cyclical stocks * Longer-ter
* Wall Street supported by rise in cyclical stocks
* Longer-term yields climb, 30-year TIPS yield goes positive
* Gold hits a seven-month low, oil prices slip
* Bitcoin hits $1 trillion market cap
(Updates to close of U.S. trading)
By Saqib Iqbal Ahmed
A gauge of global equity markets snapped a three-day losing streak to inch higher on Friday as investors sold technology shares and rotated into economically sensitive cyclical stocks in anticipation the U.S. economy will boom on pent-up demand once the coronavirus pandemic is subdued.
Oil prices fell from recent highs as Texas energy companies began preparing to restart oil and gas fields shuttered by freezing weather, while U.S. Treasury yields climbed.
The MSCI's global stock index IACWI was up 0.16% at 679.74, after losing ground for three consecutive sessions.
On Wall Street, stocks steadied as cyclical sectors edged higher while tech names, which had started the session modestly stronger, reversed course to extend their recent decline.
* Longer-term yields climb, 30-year TIPS yield goes positive
* Gold hits a seven-month low, oil prices slip
* Bitcoin hits $1 trillion market cap
(Updates to close of U.S. trading)
By Saqib Iqbal Ahmed
A gauge of global equity markets snapped a three-day losing streak to inch higher on Friday as investors sold technology shares and rotated into economically sensitive cyclical stocks in anticipation the U.S. economy will boom on pent-up demand once the coronavirus pandemic is subdued.
Oil prices fell from recent highs as Texas energy companies began preparing to restart oil and gas fields shuttered by freezing weather, while U.S. Treasury yields climbed.
The MSCI's global stock index IACWI was up 0.16% at 679.74, after losing ground for three consecutive sessions.
On Wall Street, stocks steadied as cyclical sectors edged higher while tech names, which had started the session modestly stronger, reversed course to extend their recent decline.
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