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| - Global stock markets marked time Wednesday against a backdrop of recent massive gains, growing China-US tensions, fresh virus flare-ups and signs of a possible breakthrough in deadlocked US stimulus talks, dealers said. With the coronavirus having dealt repeated blows to the global economy over the past half year, it was the tech titans who led gainers on an upbeat Wall Street, suggesting they continue to be major beneficiaries from the health crisis that just will not go away. Wednesday saw Apple became the first US company to reach $2 trillion in market value -- it hit the $1 trillion mark in early 2018 and the iPhone maker was up 1.1 percent at $467.60 three hours into Wall Street trading to boast a 60 percent rise so far in 2020. Fellow technology big-hitters also rose, Google parent Alphabet adding 0.5 percent and Microsoft 0.1 percent, although fellow $1 trillion market value traveller Amazon was off 0.4 percent even as more broadly the S&P 500 and the Nasdaq indices soared to record highs. Oil was in focus ahead of US stockpiles data and a virtual meeting of OPEC and its allies to discuss their recent output cuts after crude prices were shattered by a coronavirus-driven plunge in energy demand. The dollar, which Tuesday hit the lowest level against the euro in more than two years on the prospect of more huge US stimulus, was little changed as the market waited on the Federal Reserve's minutes from its latest policy meeting. "As for the oil market, traders are a bit cautious today because of the US crude inventory data" amid a supply glut, noted Naeem Aslam, chief market analyst at Avatrade. "Traders are also keeping an eye on the OPEC+ gathering." Craig Erlam, senior market analyst with OANDA Europe, saw European indices producing a "decent return," albeit "we don't quite have the momentum that indices on the other side of the Atlantic are enjoying, with the S&P and Nasdaq back in record territory," he said. "The prospect of a relief deal between Republican's and Democrats won't be doing that any harm, with the Fed minutes of interest later in the day," he added. Democrats and Republicans meanwhile remain stalemated over what should go into another virus stimulus package. But House Speaker Nancy Pelosi provided a ray of hope by saying her party could be willing to make cuts to its offer to seal a deal, then return to thrash out other issues after November's elections. The $3.5 trillion package agreed earlier this year, combined with a wall of cash and loose monetary policies from the Federal Reserve, have helped US stock markets soar from their March troughs. Souring US-China relations remain a concern, with the latest salvo out of Washington coming in a warning to colleges and universities to sell any Chinese holdings in their endowments owing to proposed new rules that could see these firms de-listed. The announcement comes with the two superpowers locked in several stand-offs ranging from Hong Kong, trade and the coronavirus, and US accusations of digital espionage. New York - Dow: UP 0.2 percent at 27,827.42 points London - FTSE 100: UP 0.6 percent at 6,111.98 (close) Frankfurt - DAX 30: UP 0.8 percent at 12,977.33 (close) Paris - CAC 40: UP 0.8 percent at 4,977.23 (close) EURO STOXX 50: UP 0.7 percent at 3,311.70 Tokyo - Nikkei 225: UP 0.2 percent at 23,110.61 (close) Shanghai - Composite: DOWN 1.2 percent at 3,408.13 (close) Hong Kong - Hang Seng: DOWN 0.7 percent at 25,178.91 (close) Euro/dollar: DOWN at $1.1898 from $1.1931 at 2100 GMT Dollar/yen: UP at 105.69 yen from 105.40 yen Pound/dollar: DOWN at $1.3185 from $1.3237 Euro/pound: UP at 90.24 pence from 90.11 pence West Texas Intermediate: UP 0.3 percent at $43.00 per barrel Brent North Sea crude: DOWN 0.1 percent at $45.43 per barrel bur/cdw/bmm
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