* Shanghai stocks close at a 5-year high
* Dollar vouchers as Treasury yield delivers benefits (Updates to U.S. stock market closure)
NEW YORK, Jan 12 (Reuters) – Oil prices hit an all-time high on Tuesday on a lower supply bet and Treasury yields tightened from 10-month highs following strong auction demand.
Stocks, meanwhile, are going higher, led by Asia, with a view to U.S. earnings and the inauguration of U.S. President Joe Biden next week.
The 10-year U.S. yield was touching the highest level since March but was tightened to near flat on the day after the Treasury auction was very tender. Yields had skyrocketed this year with the expectation of a major stimulus package from the incoming Democratic administration.
Brent crude prices hit their highest level since February as supply tighter and expected a fall in U.S. investments fueled concerns about rising global COVID-19 cases. Saudi Arabia said it plans to cut production by an additional 1 million barrels per day in February and March.
“Saudi Arabia in particular is ensuring, through the additional voluntary production cuts, that there is not enough market,” said Eugen Weinberg of Commerzbank.
Brent was at $ 56.56, up 1.62% on the day, while U.S. crude rose 1.76% to $ 53.17 a barrel.
On Wall Street, stocks fluctuated virtually unchanged for the session, near highs. The Dow rose 60 points, or 0.19%, to 31,068.69, the S&P 500 gained 1.58 points, or 0.04%, to 3,801.19 and the Nasdaq Composite added 36.00 points, or 0.28%, to 13,072.43.
The pan-European STOXX 600 index rose 0.05% and the global MSCI stock index gained 0.18%.
Emerging market stocks rose 0.29%, while Nikkei futures rose 0.52%. Chinese shares on the mainland gained 2.2% overnight to close at its highest level in five years.
Democrats said they will give Republican President Donald Trump one last chance on Tuesday to leave office days before his term ends or against a second unprecedented impeachment on Jan. 6’s deadly supporters’ attack on the U.S. Capitol.
An impeachment lawsuit could go ahead even after Trump resigns on Jan. 20. Some Democrats have expressed concern that a lawsuit could block Biden’s agenda, slowing confirmation of the people appointed and withdrawing from statutory priorities such as a new coronavirus relief package.
Even if it is delayed (extra incentive), it is going to be a matter of days, maybe weeks, not months. It’s about its shape and form, ”said Keith Buchanan, portfolio manager at GlobAlt in Atlanta.
U.S. government 10-year debt last rose 1/32 in price to yield 1.1325%, from 1.134% late Monday. The yield hit 1.187% earlier in the session.
The U.S. dollar went down a day after hitting its highest level since December, with tighter Treasury yields pushing the green back further.
The dollar index fell 0.463%, with the euro up 0.45% to $ 1.2204.
The Japanese yen strengthened 0.49% against the green back at 103.75 per dollar, while the British pound last traded at $ 1.3665, up 1.12% on the day as Bank of England regulator comments on viability negative bet flat rates for subzero levels. in Britain.
Spot gold added 0.6% to $ 1,855.46 an ounce. Silver gained 2.49% to $ 25.54.
Bitcoin last fell 4.01% to $ 34,035.14.
Reporting by Rodrigo Campos; additional commentary by Devik Jain and Medha Singh in Bengaluru, Saqib Iqbal Ahmed, Laura Sanicola, Karen Brettell and Herbert Lash in New York and Alex Lawler in London; Edited by Dan Grebler and Jonathan Oatis