By Imani Moise
NEW YORK, June 30 (Reuters) - Asian stocks were set for a bumpy start to the second half of the year on Wednesday as optimism about a global economic recovery from the pandemic jousted with signs in the United States the health crisis may not yet be past its peak.
Stocks futures were mixed in early Asian trade with e-mini for the S&P 500 EScv1 down 0.19% while with {{178|Japan's NiNikkei 225 futures NKc1 rose 0.2%. Hong Kong's Hang Seng index futures .HIS HSIc1 lost 0.42% and Australian S&P/ASX 200 futures YAPcm1 were down 0.1%.
The highest ranking U.S. medical official, Anthony Fauci, forecast dire consequences for the world's largest economy if cities did not re-embrace masks and social distancing measures as COVID-19 cases surged around the country. these concerns, growing cases in the U.S. are unlikely to rock markets the same way the initial outbreak did in March, Capital Economics analyst Franziska Palmas said in a note.
"Central bank backstops put in place in March have been essential in preserving calm in money markets," the note read.
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell on Tuesday pledged to do more for the U.S. economy as it battles the enormous fallout from the virus outbreak.
That assurance helped push Wall Street higher to close out the best quarterly rebound in nearly two decades, and pushed the safe-haven dollar slightly lower. gauge of stocks across the globe .MIWD00000PUS gained 1.04% as the S&P 500 .SPX gained 1.54%.
The dollar index =USD fell 0.04%, with the euro EUR= up 0.02% to $1.1233.
The Bank of Japan, meanwhile, released a new schedule for bond purchases on Tuesday, which signaled the monetary authority would not be more aggressive on longer maturity bonds.
Still, gold prices rallied as some investors fled to safety after Fauci's warning that the U.S. daily case-load could reach 100,000 from the current 40,000.
U.S. gold futures GCcv1 settled up 1.1% at $1,800.5.
Oil prices slumped after Libya's state oil company said it made progress in talks to resume exports, potentially boosting supply.
U.S. crude CLc1 was down 43 cents, or 1%, at $39.27 a barrel.
Longer U.S. Treasuries rose during Tuesday trading as investors rebalanced their portfolio to round out the first half of the year.
The benchmark 10-year US10YT=RR yield was last up 1.7 basis points at 0.6528%.
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