Market Overview

Vaccine-Led Market Rally Fades Across The Globe

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Vaccine-Led Market Rally Fades Across The Globe

Shares in Asia and Europe fell on Friday, taking cues from Wall Street's decline on Thursday, as markets shrugged off the vaccine-led rally. The Dow futures are marginally higher by 0.10%, and the S&P500 futures are up by 0.25% on the last check Friday.

WTI crude oil futures have toppled 1.5% to $40.50, while gold futures hold the ground, higher by 0.24% to $1,877.80. 10-Year treasury yield is down by 1 basis point to 0.875%, as traders rush to the safety of bonds looking at the rising COVID-19 infections.

Asia: Japan's Nikkei 225 fell by 0.53% to break its eight-day gains streak. China's Composite benchmark declined 0.86% on Friday, falling for the fourth consecutive day. The decline came after fears of corporate bonds default and the Trump administration ban on investments in firms linked to the Chinese military.

Hong Kong's Hang Seng Index fell by a marginal 0.04%. Hong Kong's Q3 GDP fell 3.5% year-over-year, slightly more than a consensus of a 3.4% decline.

Australia's S&P/ASX 200 shed 0.20% on Friday, after gold miners' shares rallied, more than offset by losses in energy, consumer, and REIT stocks.

South Korea's Kospi gained 0.74% as Samsung Electric jumped to a record high.

India's Nifty 50 is trading higher by 0.11%, as investors await economic data from Trade Balance and Forex Reserves.

Europe: Euro Stoxx 50 is down by just 0.04%. E.U. has a busy economic calendar for Friday with GDP, Employment, and Trade Balance numbers due.

London's FTSE 100 index is trading lower by 0.65%, led by losses in Energy, Industrial, and Services shares. Bank of England Governor Andrew Bailey is scheduled to speak late Friday.

Germany's DAX has declined 0.18% at press time after October's Wholesale Prices Index fell 1.9% YoY.

France's CAC 40 index is trading up by 0.04% after a 1.5% decline on Thursday. France's October CPI remained flat YoY.

Spain's IBEX 35 benchmark is trading higher by 0.43% after October's CPI fell 0.8% YoY but rose 0.5% MoM, in-line with consensus.

Forex Trading: U.S. Dollar Index futures are down by 0.04% to 92.922. The dollar has weakened 0.08% against the Euro to $1.1814, 0.26% against the Sterling Pound to $1.3148, but remained flat against the Japanese Yen at ¥105.12.

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

 

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