Asian shares slipped off record highs on Friday as investors took profits after a recent rally that was driven by hopes of U.S. economic stimulus by newly inaugurated President Joe Biden. Sentiment was also hit by worries of new coronavirus restrictions in China which reported 103 COVID-19 cases on Friday. MSCI's broadest index of Asia Pacific stocks outside of Japan extended losses in afternoon trading to be last off 0.6% at 720.17 points following three straight sessions of gains.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) hit an all-time high on Wednesday, and the popular stock market index did its best to gain ground on Thursday morning. Extending its push into record territory, the Nasdaq was up about 0.2% by 10 a.m. EST. Two popular stocks, FuelCell Energy (NASDAQ: FCEL) and United Airlines Holdings (NASDAQ: UAL), just reported their latest financial results, and both left their shareholders wanting for more.
Wall Street closed sharply higher on Wednesday as Joe Biden took the charge of 46th U.S. President.