CORRECTED-GLOBAL MARKETS-Oil, stocks gain, but rising infection rates spark concerns

(Corrects Pride's title in paragraph 11)
* Stocks, oil edge higher on recovery hopes
* Nasdaq sets closing high as Apple posts all-time peak
* Gold hits month high on safe-haven bidding
* WHO reports single-day record of COVID cases

By Herbert Lash and David Randall
NEW YORK, June 22 (Reuters) - Crude oil prices and a gauge
of global equity markets edged higher on Monday as lockdowns
eased, with the Nasdaq setting a record closing high, but
sentiment remained tenuous as coronavirus infections continued
to rise.
The dollar fell and higher risk currencies, including the
Australian dollar, jumped as investors weighed improving
economic data against the prospect of new business shutdowns if
a second wave of the pandemic gains force.
Gold prices climbed 1% to hit the highest in more than a
month as investors took refuge in the safe-haven.
Coronavirus cases are soaring in several major countries,
with "worrying increases" in Latin America, especially Brazil,
the World Health Organization said. More than 183,000 new cases
around the world were reported on Sunday, the biggest daily
tally since the outbreak started in December, WHO chief Tedros
Adhanom Ghebreyesus said. Bullish investors have a lot to prove in terms of further
gains in the absence of continued good news in economic data,
said Carlton Neel, chief executive officer of investment
research firm Chaikin Analytics in Philadelphia.
"On one hand, the bulls have made their case for the fact
that the opening up is going much better than expected. Yet the
bears are looking at the number of cases that are starting to
skyrocket," Neel said. "There is a risk to the market that we
have come a long way very quickly."
MSCI's broadest index .MIWD00000PUS of shares across the
globe rose 0.36% and has gained more than 40% since its March
lows on hopes that the worst of the pandemic was over.
But emerging market stocks .MSCIEF lost 0.08% and the
pan-European STOXX 600 index .STOXX closed down 0.76% on signs
of a resurgence in coronavirus cases in Germany.
The German reproduction rate jumped to 2.88 on Sunday,
taking infections above the level needed to contain it over the
longer term. The number was a sharp increase from 1.06 on
Friday, according to the Robert Koch Institute. The number of patients in U.S. hospitals being treated for
COVID-19 has been on a consistent decline since its peak in
April, dropping to fewer than 30,000 from more than double that
two months ago, asset manager Glenmede said.
"The continuing-to-decline hospitalization rate is more
positive than the rising-case-count data is negative," said
Jason Pride, chief investment officer of private wealth at
Glenmede.
On Wall Street, the Dow Jones Industrial Average .DJI rose
153.5 points, or 0.59%, to 26,024.96 and the S&P 500 .SPX
gained 20.12 points, or 0.65%, to 3,117.86. The Nasdaq Composite
.IXIC added 110.35 points, or 1.11%, to 10,056.48, a record
close, as shares of Apple Inc AAPL.O hit an all-time peak.
Investors nonetheless edged into perceived safe-haven assets
like U.S. government bonds. Benchmark 10-year U.S. Treasury
notes US10YT=RR rose 0.1 basis point to yield 0.7102%.
The dollar index =USD fell 0.659%, with the euro EUR= up
0.75% to $1.1259. The Japanese yen JPY= strengthened 0.07%
versus the greenback at 106.91 per dollar.
Credit rating agency Moody's warned that the stimulus
measures will leave advanced economies with much higher debt
than they accumulated during the last financial crisis.
"Government debt/GDP ratios will rise by around 19
percentage points, nearly twice as much as in 2009 during the
(global financial crisis)... the rise in debt burdens will be
more immediate and pervasive, reflecting the acuteness and
breadth of the shock posed by the coronavirus," Moody's said.
Oil rose about 2% on tighter supplies from major producers
and as coronavirus lockdowns continued to ease, but gains were
capped by worries that a worldwide rise in new infections might
stall a recovery in fuel demand.
Brent oil futures LCOc1 , the international benchmark, rose
89 cents to settle at $43.08 a barrel. U.S. crude futures CLc1
settled up 71 cents at $40.46.
U.S. gold futures GCv1 settled 0.8% higher at $1,766.40 an
ounce.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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