Markets across the globe continue to show optimism on Tuesday after clocking substantial gains on Monday on Joe Biden's victory and positive news from Pfizer Inc's PFE on its COVID-19 vaccine candidate.
The Dow futures are trading higher by 0.32%, and the S&P 500 futures are up by 0.20% in early trade on last check Tuesday. WTI crude futures are up 0.40% at $40.29, while gold futures have gained 1.75% to $1,886.80. The 10-Year Treasury Yields are down by 3.1 basis points to 0.927% after jumping on Monday.
Asia: Japan's Nikkei 225 closed higher by 0.26% on Tuesday, topping 2.12% gain on Monday. The Current Account data showed a surplus of ¥1.35 trillion in September, missing the consensus of ¥1.79 trillion. Bank lending grew 6.2% year-over-year in October, beating the consensus of 5.6% growth.
China's Shanghai Composite benchmark fell 0.40% in Tuesday's close after the nation's Consumer Price Index in October declined 0.3% month-over-month, missing the consensus for 0.2% growth. The Producer Price Index also dropped 2.1% YoY, slightly more than a 2% decline consensus.
Australia's S&P/ASX 200 advanced 0.66% on Tuesday as National Australia Bank's (NAB) Business Confidence Index improved substantially — to five — in October, from minus 4 prior. NAB's Business Survey Index for October also improved to one.
Hong Kong's Hang Seng index closed up 0.85%, while South Korea's Kospi went up by 0.23%. South Korea's unemployment data is scheduled to release Tuesday.
India's Nifty 50 is trading higher by 1.25%, led by gains in PSU Banks and energy stocks, partially offset by losses in technology stocks.
Europe: Euro Stoxx 50 gained 0.21% at press time Tuesday, after rallying a mighty 6.36% on Monday. Investors will be watching November's Economic Sentiment Index data due for release late Tuesday.
London's FTSE 100 index is trading higher by 0.61% after September's unemployment rate showed an uptick to 4.8%, in-line with expectations. However, the average earnings index grew 1.3%, beating the consensus of 1% growth.
Germany's DAX is up by 0.22% in early trade, after a 5% rally on Monday. November's Economic Sentiment Index for Germany will release late Tuesday.
France's CAC 40 is trading 0.57% higher despite the unemployment rate for the country rising to 9% in Q3. On the positive news front, France's September industrial production activity grew 1.4% MoM, significantly higher than the consensus of 0.8% growth.
Forex Trading: U.S. Dollar Index futures are trading lower by 0.08% to 92.638 on last check Tuesday as the dollar lost ground against major currencies. It lost 0.19% against the Euro to $1.1835, 0.41% against the Sterling to $1.3216, 0.31% against the Japanese Yen to ¥105.03, and lost 0.36% against the Chinese Yuan to CNY 6.6044.
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