GLOBAL MARKETS-COVID-19 concerns keep oil in check; stocks rebound

* Rising infections in India rattle energy markets
* Treasury yields little changed after 20-yr auction
* Japan stocks post 2% overnight drop

(Updates prices, analyst comment)
By Rodrigo Campos
NEW YORK, April 21 (Reuters) - A global stock index edged up
on Wednesday as Wall Street and Europe bounced back from large
drops, while oil prices continued to be weighed down by rising
COVID-19 cases in Asia.
Recent optimism about rising vaccination rates in the United
States and Britain is shifting to concern that record
coronavirus infections in India, likely restrictions in Japan
and rising cases in Latin America will be a hurdle for the
global economic recovery.
On Wall Street, a 7% drop in Netflix NFLX.O weighed on the
Nasdaq but indexes were bouncing back from their largest
declines in a month.
The Dow Jones Industrial Average .DJI rose 263.99 points,
or 0.78%, to 34,085.29, the S&P 500 .SPX gained 29.08 points,
or 0.70%, to 4,164.02 and the Nasdaq Composite .IXIC added
108.10 points, or 0.78%, to 13,894.37.
MSCI's gauge of stocks across the globe .MIWD00000PUS
gained 0.26% and the pan-European STOXX 600 index .STOXX rose
0.65%.
Emerging market stocks lost 0.88%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.95%
lower, while Japan's Nikkei futures NKc1 rose 0.63% after a 2%
overnight drop in the Topix .TOPX .
Oil prices were weighed by concerns that surging COVID-19
cases in India will drive down fuel demand in the world's
third-biggest oil importer.
"Demand jitters were thrust back into the spotlight
yesterday amid a sharp rise in global coronavirus cases. Nowhere
is this more obvious than in India," PVM analysts said.
U.S. crude CLc1 fell 2.11% to $61.35 per barrel and Brent
LCOc1 was at $65.33, down 1.86% on the day.
In currency markets, the dollar dipped and was in a tight
range throughout the session, not far from the more than
six-week low hit intraday on Tuesday.
The dollar index =USD fell 0.061%, with the euro EUR=
down 0.06% to $1.2026.
The Japanese yen weakened 0.04% versus the greenback at
108.12 per dollar, while Sterling GBP= was last trading at
$1.3928, down 0.06% on the day.
U.S. Treasury yields were little changed even after an
auction of 20-year bonds showed strong demand, a pattern
analysts expect to persist until next week's data releases and
Federal Reserve meeting.
Benchmark 10-year notes US10YT=RR last fell 2/32 in price
to yield 1.5696%, from 1.562% late on Tuesday.
The 20-year bond US30YT=RR last fell 4/32 in price to
yield 2.1541%, from 2.147%.
Spot gold XAU= added 0.8% to $1,791.65 an ounce. Silver
XAG= gained 2.36% to $26.48.

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