New Zealand’s main stock index opened in the green on Friday, with the NZX 50 poised for a weekly gain as investors weighed the prospect of economic recovery against fears of another wave of coronavirus infections. Overnight robust jobs report in the US, and positive data from a potential Covid-19 vaccine lifted both sentiment and expectations for faster economic recovery. Meanwhile, NZ's health minister, David Clark, has resigned, after a series of political failures, and repeated breaches of his own government's lockdown rules.

The Ibovespa lost 32 points or less than 0.1% to 96,235 points on Thursday, as better than expected US employment data outweighed rising COVID cases. Latest data showed Brazil’s industrial output rose 7% in May, slightly above market expectations of 6.7% and rebounding from a 18.8% plunge in April to the worst result in 18 years, as activity started to pick up following two months of stricter lockdowns to curb the spread of the coronavirus outbreak.

The number of confirmed cases of coronavirus around the world surpassed 10.7 million, of which more than half a million died and more than 5.5 million recovered. In the US, the epicentre of the disease, the number of infections surpassed 2.7 million, followed by Brazil (1,448,753) and Russia (660,231). Brazil has overtaken the United States as the country with the highest Covid-19 death tool, recording over 800,000 deaths.

Wall Street closed in the green on Thursday after better-than-expected employment numbers. Government data showed the US economy added 4.8 million jobs in June, well above market expectations of 2.9 million. Meanwhile, the jobless rate declined to 11.1% from 13.3% in May, also beating consensus of 12.4%. However, initial jobless claims rose by 1.427 million, above expectations of 1.38 million, while continuing claims increased to 19.29 million. On the COVID front, latest numbers showed a 50 thousand increase in daily cases in the US, a new record. On the corporate side, Moderna’s stock fell sharply after its vaccine trial was delayed. The Dow Jones climbed 92 points or 0.4% to 25,827. The S&P 500 added 14 points or 0.5% to 3130. The Nasdaq jumped 53 points or 0.5% to a new record of 10,208.

Canada's main stock exchange posted a 3-week high on Thursday as commodities rallied while investors cheered upbeat economic data. Canada’s factory output shrank at the softest pace in June since the downturn began in March amid easing coronavirus lockdown restrictions while customs data showed the Canadian trade deficit narrowed sharply in May. Meanwhile, positive data from a potential Covid-19 vaccine trial lifted both sentiment and hopes of a faster recovery from the coronavirus-driven economic slump.

The number of Americans filling for unemployment benefits eased slightly to 1.427 million in the week ended June 27th, above market expectations of 1.355 million. The jobless claims have been steadily falling since hitting a record high of 6.86 million in the week ended March 28th, but have been consistently coming above market expectations. The latest number was more than double its peak during the 2007-09 Great Recession, lifting the total reported since March 21st to 48.7 million. The 4-week moving average, which removes week-to-week volatility, eased to 1.504 million, while continuing jobless claims increased to 19.290 million in the week ended June 20th, above market forecasts of 19 million.

Oil prices rose on Thursday, recording a second consecutive day of gains as positive economic data from the US and a massive draw in crude inventories offset worries about the global economic impact of surging coronavirus infections in many countries. WTI crude rallied above $40 a barrel while Brent added 2.6% to settle at $43.14 a barrel. Investors mood was lifted by a strong US payroll report, while data showed US crude stocks plunged 7.2 million barrels from a record high last week, suggesting fuel demand is improving despite the rapid spread of Covid-19.

European stock markets extended gains in afternoon trading on Thursday, with the DAX 30 adding 2.8% to 12,609, after US employment data showed the world's largest economy added a record 4.8 million jobs in June, easily beating forecasts, while the unemployment rate fell more than expected to 11.1%. Equities were already gaining on hopes of a V-shaped recovery after a COVID-19 vaccine from Pfizer and Germany's BioNTech posted some positive results in early-stage human trials. In addition, stronger-than-expected PMI figures from China, Europe and the US released on Wednesday also lifted sentiment. Investors continued to monitor the spread of coronavirus after the number of infections in the US rose by a new record, with Arizona, Texas and other Southern states being the most affected states. Over in the Middle East the number of cases crossed the 1 million mark.

New orders for US manufactured goods rose by 8.0 percent from a month earlier in May 2020, partially recovering from a record 13.5 percent tumble in April and missing market expectations of an 8.9 percent growth, as several states gradually lifted coronavirus restrictions. Demand for transport equipment jumped 82.0 percent (vs -48.9 percent in April) led by vehicles and defense aircraft. In addition, new orders were up for primary metals (8.9 percent vs -14.5 percent), fabricated metal products (7.4 percent vs -13.6 percent), furniture and related products (5.3 percent vs -12.4 percent), electrical equipment, appliances, and components (1.0 percent vs -9.0 percent), computers and electronic products (0.7 percent vs -0.1 percent), and machinery (0.5 percent vs -8.0 percent).