By Pete Schroeder

WASHINGTON, Oct 2 (Reuters)Asian markets were little changed on Friday, as a U.S. stimulus deal remained out of reach and investors waited on fresh U.S. employment data for a read on the economic toll from the coronavirus pandemic.

U.S. markets kicked off the fourth quarter closing higher on Thursday while the dollar sank, as investors tracked stimulus talk updates throughout the day. The September employment report from the Labor Department looms large, following new layoff announcements from the likes of Disney DIS.N and Goldman Sachs GS.N.

Japan’s Nikkei 225 index .N225 was up 0.35% after the Tokyo Stock Exchange (TSE) resumed normal trading after its worst-ever outage brought the world’s third-largest equity market to a standstill.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.1%, while Australia’s benchmark S&P/ASX 200 index .AXJO slipped 0.7%.

In the United States, an additional economic stimulus package remained elusive despite renewed efforts from Washington negotiators.

After a day of negotiations, House Speaker Nancy Pelosi told reporters she did not expect an imminent agreement with the Trump administration. It remains unclear if policymakers can get something done before the Nov. 3 election.

New data showed U.S. consumer spending was still up in August, but its momentum was slowing as increased unemployment benefits began to dry up. If policymakers cannot agree on more support, the economic toll could worsen.

“The risk is that if disposable incomes continue to fall, the recovery in personal spending will slow or even reverse. The fiscal stimulus stalemate suggests additional government support payments to households are unlikely soon,” said Commonwealth Bank of Australia currency analyst Kim Mundy in a note.

The Dow Jones Industrial Average .DJI rose 0.13%. The S&P 500 .SPX gained 0.53% and the Nasdaq Composite .IXIC added 1.42%.

By Stanley White and Eimi Yamamitsu

TOKYO (Reuters) – Trading on the Tokyo Stock Exchange was brought to a complete standstill by a hardware failure for all of Thursday, in the worst-ever outage for the world’s third-largest equity market.

Japan’s TSE said it would reopen as usual on Friday, but frustrated investors were left unable to buy shares in Tokyo following an overnight rise on Wall Street.

The outage will test the exchange’s credibility just as new Prime Minister Yoshihide Suga has prioritised digitalisation and could dent Tokyo’s hopes of wooing banks and fund managers from Hong Kong amid a new security law imposed by China.

“I feel painfully responsible for all the confusion this incident has caused for investors and market participants,” TSE Chief Executive Officer Koichiro Miyahara told a news briefing

The TSE said the glitch was the result of a hardware problem at its “Arrowhead” trading system, and a subsequent failure to switch to a back-up. It caused the first full-day suspension since the exchange switched to all-electronic trading in 1999.

Fujitsu Ltd <6702.T>, which developed the trading system, said it was investigating the problem, while the TSE said it has no plan at this point to ask for any compensation.

Tokyo Governor Yuriko Koike said a quick fix was crucial to ensure trust in the roughly $6 trillion market.

“The timing is really just bad,” said Takashi Hiroki, chief strategist at brokerage Monex in Tokyo, adding that many market participants had been hoping to buy back their stocks or increase their holdings after an overnight rise in U.S. markets.

“The market was robbed of that chance,” he added.

The meltdown also coincided with the release of the Bank of Japan’s closely watched tankan corporate survey, which showed business sentiment improved from a decade low.

“It hasn’t

  • Palantir insiders were temporarily unable to sell shares Wednesday due to an issue with Morgan Stanley’s trading software, Shareworks, CNBC first reported and Shareworks confirmed to Business Insider.
  • The data-mining company went public Wednesday morning via a direct listing at $10 per share, but took a page from the traditional IPO process by having a “lock-up” period for existing investors.
  • Palantir still allowed those investors to sell up to 20% of their shares during the lock-up, but according to CNBC, some initially couldn’t take advantage of it because of a software glitch.
  • A spokesperson for Shareworks by Morgan Stanley told Business Insider the company “experienced slowness that may have resulted in delayed logins into our system” but that its call centers were able to execute trades “at all times.”
  • Palantir’s stock jumped as much as 14% per share in early hours, but dropped again later in the day.
  • Visit Business Insider’s homepage for more stories.

Palantir went public on Wednesday, giving existing investors a chance to offload some of their shares. But some were temporarily unable to do via Morgan Stanley’s trading platform, Shareworks, because of a software glitch, CNBC first reported and Shareworks by Morgan Stanley confirmed to Business Insider.

While Palantir used a direct listing process (DLP) instead of a traditional initial public offering (IPO), it took a page from the IPO process by setting a “lock-up” period for existing investors such as employees, founders, and venture capitalists to limit some volatility.

Still, it allowed those insiders to sell up to 20% of their shares immediately upon the stock’s debut Wednesday morning.

But according to CNBC, some current and former employees couldn’t get in on the initial action because Morgan Stanley’s Shareworks trading platform, through which they were supposed to be able to sell shares, wasn’t functioning properly.