Asia stocks to rise as U.S. gains

Tech stocks lead rebound as Boeing tumbles anew

Most of the action overnight was in sterling after the British parliament rejected leaving the European Union without a deal, paving the way for a vote that could delay Brexit until at least the end of June. This is the latest sign of benign inflation, supporting the Federal Reserve's wait-and-see approach to further interest rate hikes this year.

Other data showed new orders for US -made capital goods increased by the most in six months in January and shipments also rose, but business spending on equipment remained soft, leaving forecasts for weak first-quarter economic growth intact.

Boeing gained for the first time since Sunday's crash of a 737 MAX 8 jet in Ethiopia. The stock closed up 0.5 percent.

The grounding gives Boeing time to address any problems and not face another potential disaster, said Tim Ghriskey, chief investment strategist at Inverness Counsel in NY. The Stoxx Europe 600 Index climbed as most sectors advanced, with shares in the United Kingdom also rising after a night of voting that saw the British government once again defeated in Parliament.

Economic data still suggests an "OK" economy but analysts' estimates of corporate profits are slowing, which is worrisome, said Michael Geraghty, equity strategist at Cornerstone Capital Group in NY.

"Before we conclude that this market still has decent legs, we'd like to see equity prices supported by stronger macro data, lifted by better earnings trends, and confirmed by stable-to-rising yields", David Lafferty, chief market strategist at Natixis, said in a note titled "Rally vs Reality".

The dollar index, a gauge of the currency's strength against six major counterparts, was up 0.1 percent at 96.633.

The yield on 10-year Treasuries gained one basis point to 2.63 percent.

The pound edged up after turbulence following the defeat of May's European Union exit deal on Tuesday, but investors were loath to make definitive calls without more information about the course forward.

Kyle Busch Completes Weekend Sweep in Phoenix by Winning TicketGuardian 500
Behind Petty, David Pearson is second with 105 victories, followed by Jeff Gordon with 93. "Ugh", Busch said following the race. I'm not quite as good as Jeff Gordon any more with being able to win 10 races a year or 13 races a year.

The Australian dollar was down 0.35 percent at $0.7068, hit by sharp declines in domestic bond yields and a largely lacklustre batch economic data from Australia's major trading partner China.

In late NY trading, the euro was up to 1.1329 USA dollars from 1.1296 dollars in the previous session, and the British pound rose to 1.3217 dollars from 1.3084 dollars in the previous session.

The euro was a touch lower at $1.1283 after rising 0.4 percent the previous day as the greenback sagged on the lacklustre USA inflation data.

"After yesterday's CPI (consumer price index) data, yields fell. So some of these are just rebound after that", said Stan Shipley, fixed income strategist at Evercore ISI in NY. U.S. producer prices barely rose in February, the U.S. Labor Department reported on Wednesday, resulting in the smallest annual increase in more than 1-1/2 years.

US crude stocks fell last week as refineries hiked output, the Energy Information Administration said. After a positive start to the week, investors are in a cautious mood as they digest soft data from Japan and Australia, as well as the ongoing Brexit drama and a warning from the top American trade negotiator that tariffs on Chinese goods may not be rolled back.

Gold sank 0.8 percent to $1,298.54 an ounce, the biggest dip in nearly two weeks.

Brent crude futures settled at $67.55 a barrel, up 88 cents, or 1.32 percent.

This story has not been edited by Firstpost staff and is generated by auto-feed.

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