GLOBAL MARKETS-Stocks tick up, oil off, with eyes on U.S. stimulus

* US stimulus talks stall, trade fears abound
* S&P 500 just a few points off record high
* STOXX 600 snaps four-day winning streak

(Updates prices, changes comment, dateline; precious LONDON)
By Rodrigo Campos
NEW YORK, Aug 13 (Reuters) - Stocks edged up on Thursday on
lingering bets over a stalled U.S. economic relief deal, while
trade war angst and the coronavirus pandemic held back the
bulls.
Tech shares powered higher on Wall Street while the euro
edged up against the U.S. dollar.
Initial claims for U.S. state unemployment benefits dipped
below 1 million for the first time since mid-March, but the
expiration at the end of July of a $600 weekly jobless
supplement likely contributed to the decline.
Data last week showed the economy regained only 9.3 million
jobs of the 22 million lost between February and April, but Wall
Street has recovered most equity market losses and the benchmark
S&P 500 was within a few points of a record high.
"Our take on a new high, if it happens, is that it's another
reminder to investors how disconnected the stock market and the
economy have been this year. The stocks have soared but economy
– it's improved, yes – but a million initial claims is still not
good," said Ryan Detrick, senior market strategist at LPL
Financial in Charlotte, North Carolina.
The Dow Jones Industrial Average .DJI fell 43.24 points,
or 0.15%, to 27,933.6, the S&P 500 .SPX gained 3.86 points, or
0.11%, to 3,384.21 and the Nasdaq Composite .IXIC added 105.31
points, or 0.96%, to 11,117.55.
The STOXX 600 .STOXX suffered its first fall in five days
after Washington said it would maintain 15% tariffs on planes
and 25% tariffs on other European goods. .EU
The pan-European index .STOXX lost 0.63% and MSCI's gauge
of stocks across the globe .MIWD00000PUS gained 0.16%.
The 5-month global rally has seen MSCI's world index
.MIWD00000PUS rise 50% from its March lows to stand within 2%
of an all-time high.
In the currency and bond markets, faltering hopes for a
compromise between Republicans and Democrats over additional
stimulus for the U.S. economy dragged the dollar index =USD
down. /FRX
The greenback =USD fell 0.179%, with the euro EUR= up
0.31% to $1.1819.
The Japanese yen strengthened 0.03% versus the dollar to
106.86 per dollar, while Sterling GBP= was last trading at
$1.3082, up 0.38% on the day.
A selloff in benchmark government bond markets also eased,
as investors digested the biggest ever 10-year U.S. debt sale,
and some surprisingly robust U.S. inflation figures.
U.S. Treasury yields held near five-week highs on Thursday
before the Treasury will sell a record amount of 30-year bonds,
the final sale of $112 billion in new coupon-bearing supply this
week.
Benchmark 10-year notes US10YT=RR last rose 1/32 in price
to yield 0.6833%, from 0.686% late on Monday.
The 30-year bond US30YT=RR last fell 5/32 in price to
yield 1.3712%, from 1.365%.
In Asia, Japanese stocks were the main mover, soaring 1.8%
to a six-month peak .N225 on gains from chip firms. .T
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS closed 0.07% higher, while Japan's Nikkei
futures NKc1 rose 0.22%. Emerging market stocks rose 0.35%.
Oil prices eased after the International Energy Agency
lowered its 2020 oil demand forecast following unprecedented
travel restrictions, but resilience in equities markets and a
weak dollar limited losses. Traders kept an eye on U.S. stimulus
headlines.
"Overall, neither yesterday's OPEC or today's IEA release
appeared to have much effect on an oil market that is still
primarily focused on the ongoing expansion in risk appetite that
remains undeterred by lack of progress in formulating a viable
U.S. stimulus deal," said Jim Ritterbusch of Ritterbusch and
Associates.
U.S. crude CLc1 recently fell 0.91% to $42.28 per barrel
and Brent LCOc1 was at $45.02, down 0.9% on the day.
Spot gold XAU= added 1.6% to $1,947.84 an ounce. Silver
XAG= gained 4.85% to $26.80.

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Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
2020 asset performance http://tmsnrt.rs/2yaDPgn
2020 Global asset performance https://tmsnrt.rs/3iA4Cd2
World stocks shaking off the virus https://tmsnrt.rs/3amxXEI
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