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Global Markets Rise, Dollar Weakens On Vaccine-Led Recovery

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Global Markets Rise, Dollar Weakens On Vaccine-Led Recovery

Major indices worldwide on Monday have jumped in optimism as the world starts to approve vaccines and begin mass distribution.

The Dow futures are trading higher by 0.68% and the S&P 500 futures are up by 0.50% on the last check Monday. Brent crude futures have advanced 1.44% to $50.69 while gold futures are down by 0.59% to $1,832.80. Ten-year Treasury yield is higher by 2.2 bps at 0.913%.

Asia: Japan's Nikkei 225 closed higher by 0.30% on Monday after the nation's October industrial production grew at 4% month-over-month, better than the 3.8% expected growth. The Tertiary industry activity increased 1% MoM while the Tankan Large Manufacturing Index for fourth-quarter improved to -10, against a consensus of -15. Services PMI data is due to release later today.

China's Shanghai Composite benchmark closed up by 0.66% on hopes of more policy support. The country's November house prices grew 4% YoY. China's has a busy economic calendar on Monday, with FDI, industrial production, trade balance, unemployment, and retail sales data scheduled.

Hong Kong's Hang Seng Index declined 0.28% on Monday, driven by industrial stocks. Hong Kong's GDP data is due later in the day.

Australia's S&P/ASX 200 gained 0.26% on Monday's close as investors await the Reserve Bank of Australia's meeting minutes.

India's Nifty 50 index is trading higher by 0.29% at press time. The country's November wholesale price index (WPI) inflation rose 1.55% YoY, WPI manufacturing inflation rose 2.97% YoY, while WPI fuel fell by 9.87% YoY.

South Korea's KOSPI dipped 0.28%. Trade balance and money supply data are due to release today.

Europe: Euro Stoxx 50 is up by 0.76% at publication time, after losing 1.5% in the last week. October's industrial production data for the bloc is due later today.

London's FTSE 100 is trading higher by 0.17%. Britain's Rightmove House Price Index fell 0.6% MoM.

Germany's DAX has advanced 0.85% in Monday's early trade after losing 1.39% in the last week. Germany's November WPI fell 1.7% YoY but rose 0.1% MoM, missing a consensus of 0.2%.

France's CAC 40 is trading higher by 0.80%. Spain's IBEX 35 has rallied 1.24% driven by gains in financial stocks.

Forex Trading: U.S. Dollar Index futures have fallen 0.37% at 90.593. The dollar has weakened by 0.26% against the Euro to $1.2142, lost 1.30% against the Sterling Pound to $1.3394, and lost 0.12% against the Japanese Yen at ¥103.88

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

 

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