Market Overview

Global Markets Continue The Positive Trend As Biden Inches Closer To A Win

Global Markets Continue The Positive Trend As Biden Inches Closer To A Win

Stocks across the globe remained mostly positive as Democratic presidential nominee Joe Biden edges closer to a win. Major Asian markets closed higher on Friday while European markets opened on a sluggish note.

The Dow futures are trading lower by 0.12%, and the S&P 500 futures are down by 0.24 on last check Friday. WTI crude futures have given up 0.93% to $38.43, while gold futures are flat at $1,947.70. 10-Year Treasury yield is flat at 0.776%, continuing its fall from a high of 0.94% three days ago.

Asia: Japan's Nikkei 225 closed 0.91% higher on Friday as it hovers near the highest level since 1991. Japan's household spending improved 3.8% month-over-month in September but fell 10.2% year-over-year. The overall wage for September income fell 0.9%, along with average cash earnings dipping 0.9% YoY.

China's Shanghai Composite benchmark closed down by 0.24% after blue-chip companies had their best week in three months. On Friday, China's central bank official said that the decision to suspend Alibaba Group Holding's (NYSE: BABA) Ant Financial IPO was in the best interest of financial consumers and investors. China's trade balance data for October is scheduled for late Friday.

See Also: Jack Ma's Ant Group IPO Faces Delay Of Over Six Months: FT

Australia's S&P/ASX 200 gained 0.82% on Friday's close, while Hong Kong's Hang Seng index gained a marginal 0.04%. Hong Kong's foreign reserves jumped to $475 billion in October.

India's Nifty 50 index is trading higher 1.13% at press time, aiming for gains in five consecutive sessions. South Korea's KOSPI closed 0.11% higher.

Europe:  Euro Stoxx 50 retreated 0.4% in Friday's early trade after substantial gains in the last four days. September's retail sales in Europe improved 2.2% YoY but fell 2% MoM, missing the consensus on both counts.

London's FTSE 100 index is down slightly by 0.15% after the U.K.'s house price index rose 0.3% MoM in October and 7.5% YoY.

Germany's DAX fell 0.75%, as of publication time, as industrial production grew only 1.6% MoM in September, worse than expectations of 2.7% growth.

France's CAC 40 has shed a total of 0.60% on last check Friday, after the nation's non-farm payrolls grew by 1.8% QoQ, and the trade balance narrowed to €5.8 billion in September. Spain's Ibex 35 index was down by 0.52%.

Forex Trading: U.S. Dollar Index futures remained flat at 92.525, as the dollar lost 0.16$ against the Euro to $1.1840, gained 0.13% against the Sterling Pound to $1.3125. The dollar was trading flat against the Japanese Yen at JPY 103.47 and gained 0.30% against the Chinese Yuan to CNY 6.6231.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España. 


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