* Tech stocks fall in U.S., Europe
* Oil climbs on hopes for U.S. stimulus package
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh
(Updates prices, comment; changes dateline; previous LONDON)
By Rodrigo Campos
NEW YORK, Aug 10 (Reuters) - Stocks across the globe were
little changed on Monday as upbeat industrial data out of China
and hopes for more stimulus in the United States were offset by
jitters over tensions between Washington and Beijing.
Technology stocks fell after a run of recent gains, while
crude oil prices jumped.
Industrial output in China is returning to levels before the
coronavirus pandemic halted huge swathes of the economy, driven
by pent-up demand, government stimulus and surprisingly
resilient exports.
On Wall Street, the Dow industrials touched a 5-month
high but the Nasdaq fell as much as 1.5% after hitting a
record high last week.
Tension between the United States and China ahead of
scheduled trade talks at the weekend to review an agreement
signed in January was being blamed for the lack of clarity in
the market's direction.
Talks in Washington over a U.S. fiscal stimulus package
caused further uncertainty for investors. House Speaker Nancy
Pelosi and Treasury Secretary Steven Mnuchin on Sunday said they
were open to resuming negotiations on aid for stricken
businesses and workers.
President Donald Trump has sought to take matters into his
own hands, signing executive orders and memorandums aimed, among
other things, at unemployment benefits, although they were
smaller than the package that had been in place for weeks.
The Dow Jones Industrial Average rose 277.86 points,
or 1.01%, to 27,711.34, the S&P 500 gained 6.31 points,
or 0.19%, to 3,357.59 and the Nasdaq Composite dropped
42.36 points, or 0.38%, to 10,968.62.
The pan-European STOXX 600 index rose 0.30% and
MSCI's gauge of stocks across the globe gained
0.08%.
Emerging market stocks lost 0.35%. MSCI's broadest index of
Asia-Pacific shares outside Japan closed 0.07%
lower, while Japan's Nikkei lost 0.39%.
Oil rose, supported by the Chinese factory data, rising
energy demand and hopes for an agreement in the United States on
more coronavirus-related economic stimulus.
"The oil complex is heavily reliant on that aid. We need
people to be able to boost economic activity to spur demand,"
said John Kilduff, partner at Again Capital in New York.
U.S. crude recently rose 2.3% to $42.17 per barrel
and Brent was at $45.16, up 1.71% on the day.
The greenback ticked up against a basket of peers after
posting its seventh consecutive weekly loss on Friday. Traders
focused on fiscal stimulus in the United States and U.S.-China
tensions ahead of trade talks on Aug. 15.
The dollar index rose 0.103%, with the euro
down 0.31% to $1.1749.
The Japanese yen strengthened 0.05% versus the greenback at
105.89 per dollar, while Sterling was last trading at
$1.3083, up 0.25% on the day.
"The longer-term outlook continues to be great on the euro,
so you'll probably see people buying on dips," said Ed Moya,
senior market analyst at OANDA in New York.
Treasury yields ticked higher but remained close to recent
lows.
“There is a growing recognition that the recovery has
stalled,” said Jon Hill, an interest rate strategist at BMO
Capital Markets in New York. “The question is, is that stall
going to turn into more of a pause, or a more ominous
retrenchment?”
Five-year yields last week fell to their lowest on record
and benchmark 10-year yields dipped to their lowest since March
as concerns about growth increased demand for the safe-haven
debt.
Benchmark 10-year notes last fell 2/32 in price
to yield 0.569%, from 0.562% late on Friday.
The 30-year bond last fell 13/32 in price to
yield 1.2443%, from 1.229%.
Spot gold dropped 0.1% to $2,032.69 an ounce.
Trump also signed executive orders banning Chinese social
media platforms WeChat - owned by Chinese tech giant Tencent
- and TikTok starting next month, and imposed
sanctions on 11 Hong Kong and Chinese officials.
(Reporting by Rodrigo Campos; Additional reporting by Tom
Wilson in London, Laura Sanicola, Gertrude Chavez-Dreyfuss and
Karen Brettell in New York; Editing by Dan Grebler)