News Highlights: Top Global Markets News of the Day

U.S. Stock Futures Edge Higher, Gold Rallies

Bull market in gold continued, sending prices over $2,000 a troy ounce for second day, while U.S. Treasury yields remained near this year's lows.

With Biotech Stocks, Investors Love the Thrill of the Chase

Individual investors are placing their bets on biotech companies pursuing coronavirus advances. Some invest for fun and profit, while others want to be a part of a historic breakthrough.

Foreign Investors Flock to Russian Government Bonds

After a feud with fellow oil exporter Saudi Arabia, Russia's efforts to shore up its finances may be paying off.

U.S. Daily Coronavirus Cases Rise After Dipping Below 50,000 for Two Straight Days

New coronavirus cases in the U.S. climbed above 50,000 for the first time in three days, though the tally remained lower than during recent peaks and some previously hard-hit states saw signs of improvement.

Bank of Thailand Keeps Policy Rate Unchanged

Thailand's central bank maintained its benchmark interest rate at a record low 0.50%, after having taken a series of easing steps earlier this year to bolster the economy amid the Covid-19 pandemic.

Singapore's Central Bank Unveils Initiatives to Support New Benchmark Rate

The Monetary Authority of Singapore has announced initiatives to support the use of the "Singapore overnight rate average," a new benchmark interest rate.

Indonesian Economy Suffers First Contraction in More Than Two Decades

Indonesia's economy posted its first contraction in more two decades as the effects of the coronavirus pandemic cut into household income and business activity in the second quarter.

Coronavirus Redefines Gold's Safe-Haven Role

An unprecedented flood of monetary stimulus and government spending aimed at stemming the economic damage caused by the coronavirus is driving up the price of gold as investors seek a safe-haven asset that will also guard against rising inflation. This is challenging how investors use the precious metal to protect their money.

China Services Sector Gauge Drops in July

A private gauge of China's service-sector activity dropped in July from a near 10-year high a month earlier, weighed by sharp fall in demand from overseas markets due to a resurgence of the coronavirus in many countries.

U.S., Chinese Officials to Meet Aug. 15, Assess Trade Deal

The U.S. and China have agreed to high-level talks on Aug. 15 to assess Beijing's compliance with the "phase one" bilateral trade agreement signed early this year, according to people briefed on the matter.

  (END) Dow Jones Newswires
  08-05-20 0715ET
  Copyright (c) 2020 Dow Jones & Company, Inc.

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