Stock indexes wobble as investor caution offsets optimism

Shares were mixed Friday in Asia after markets closed nearly flat on Wall Street, though the S&P 500 and the Nasdaq composite still logged record highs.

Most Asian markets were closed to mark the Lunar New Year.

Investors remain cautiously optimistic about prospects for a new round of government aid as the economic recovery seemingly stalls.

The latest U.S. government report on jobless claims reaffirmed that employment remains a weak spot in the economy, even as vaccine distribution ramps up in the hopes of eventually ending the pandemic.

Japan's Nikkei 225 index lost 0.1% to 29,520.07 and the A&P/ASX 200 declined 0.6% to 6,806.70.

Weak economic data are serving to “fog up the glass," Stephen Innes of Axi said in a commentary.

“Global markets continue to trade mixed echoing that somber data view as participation remains muted, suggesting that investors need a bit more cajoling by more all clear economic smoke signals on the horizon before getting back in the saddle," Innes said.

Although another day of choppy trading on Wall Street left the major U.S. stock indexes nearly flat Thursday, the S&P 500 and Nasdaq composite still snagged all-time highs.

The S&P 500 rose 0.2% to 3,916.38. Technology stocks led the gainers after two relatively weak days, almost single-handedly outweighing losses by energy stocks, banks and companies that rely on consumer spending.

The yield on 10-year Treasury notes was steady at 1.15% after touching 1.20% earlier this week.

Wall Street is still digesting solid corporate earnings and signs of a decline in new virus cases.

The Dow Jones Industrial Average slipped less than 0.1% to 31,430.70 a day after setting a record high. The tech-heavy Nasdaq gained 0.4%, to 14,025.77. Its previous all-time high was Tuesday.

Small...