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Global Markets Cheer Fed Support And US Stimulus Optimism, Dollar Weakens

Global Markets Cheer Fed Support And US Stimulus Optimism, Dollar Weakens

Major indices worldwide are rising on Thursday, thanks to the Fed leaving interest rates unchanged and reiterating commitment to continue bond purchases. The U.S. COVID-19 relief package is also close to approval.

The Dow futures are up by 0.49%, and the S&P 500 futures have gained 0.56% on the last check Thursday. WTI crude futures are higher by 1.86% at $48.71, and gold futures have gained 1.06% to $1,878.80. Ten-year Treasury yield is up by 1 bps to 0.931%.

Asia: Japan's Nikkei 225 gained 0.18% as investors look beyond the surging virus cases. The foreign investments in Japanese stocks in the last month grew to ¥159.9 billion. CPI and Bank of Japan's interest rate decision are due later today.

China's Shanghai Composite rallied 1.13%, led by gains in financials, materials, and healthcare stocks as investors bet on a fast economic recovery.

Hong Kong's Hang Seng Index advanced 0.77%. The unemployment data is due later today.

Australia's S&P/ASX 200 closed higher by 1.16% as the continent's unemployment rate ticked lower to 6.8%, a better-than-expected 7% rate. The worker participation rate rose to 66.1%.

India's Nifty 50 index is trading higher by 0.54%, hitting a record high. The index has posted six straight weeks of gains due to high inflow from foreign investors. South Korea's KOSPI is down marginally by 0.05%.

Europe: Euro Stoxx 50 is trading higher by 0.62% at press time. The bloc's manufacturing activity expanded to 55.5 in December, and services activity jumped to 47.3. October's trade balance surplus widened to €30 billion, and wages increased by 2.20% in the third quarter. Construction output for the month rose 0.47% month-over-month. CPI data is due later today.

London's FTSE 100 is trading higher by 0.25% on Thursday. U.K.'s manufacturing activity jumped to 57.3 in December, while services activity expanded to 49.9, missing the consensus of 50.5. Britain's car registrations fell 27.4% YoY and 19.3% MoM in November. Bank of England's interest rate decision is due later today.

Germany's DAX has advanced 1.05% at publication time after its November car registrations increased 5.8% MoM. 

France's CAC 40 is trading higher 0.47% after November car registrations fell 26.3% MoM and 27% YoY. Healthcare, consumer, and technology stocks are pushing the index higher.

Spain's IBEX 35 is near flat. 

Forex Trading: U.S. Dollar Index futures are down by 0.57% at 89.845, below the critical 90 levels for the first time since 2018. The dollar has weakened against most major currencies, down 0.34% against the Euro at $1.2239, 0.55% against the Sterling Pound at $1.3582, 0.29% against the Japanese Yen at ¥103.19.

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


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