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Global Markets Take A Breather On Resurging COVID-19 Infections, Brexit Fears

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Global Markets Take A Breather On Resurging COVID-19 Infections, Brexit Fears

Asian markets closed lower on Friday, owing to a spike in COVID-19 cases and U.S.-China tensions. European markets remain mixed in Friday's opening trade as the Brexit deal hits another speed bump. A surprise spike in unemployment claims in the last week and volatility around stimulus is dampening investor sentiment.

The Dow futures are down by 0.20%, and the S&P 500 futures are lower by 0.08% on the last check Friday. WTI crude futures are trading lower by 0.06% at $48.51 and gold futures are down 0.42% at $1,882.40. Ten-year Treasury yield is higher by 0.5 bps to 0.935%.

Asia: Japan's Nikkei 225 closed lower by 0.16% but clocked a 0.42% weekly gain. Bank of Japan kept the interest rates unchanged at -0.10%. Japan's November core CPI fell 0.9% month-over-month. 

China's Shanghai Composite fell 0.29% on Friday as the U.S. is set to add 12 Chinese firms to a trade blacklist. The index still clocked a 1.43% weekly gain. 

Hong Kong's Hang Seng Index fell 0.93%. Its unemployment rate ticked lower to 6.3% in November.

Australia's S&P/ASX 200 shed 1.20% on Friday as rising COVID-19 cases led to new restrictions in Sydney.

India's Nifty 50 index is near flat on Friday at publication time, hovering near its record highs. Bank loan and deposit growth data are due later today.

South Korea's KOSPI closed marginally higher by 0.06% as foreigners remained net sellers and coronavirus cases spiked.

Europe: Euro Stoxx 50 is trading higher by 0.15% at press time. The bloc's November CPI fell 0.3% MoM and YoY, in-line with expectations. Current account data is due later today.

London's FTSE 100 has gained 0.49% in Friday's early trade. Bank of England kept the interest rates unchanged at 0.10% but kept December's quantitative easing at £875 billion. The United Kingdom's November core retail sales fell 2.6% MoM but grew 5.6% YoY, beating the consensus on both counts. Industrial trends orders for December is scheduled to release today.

Germany's DAX has advanced 0.36%, after November's PPI rose 0.2% MoM and fell 0.5% YoY, beating the consensus on both counts. Its business climate index for December improved significantly to 92.1, beating the consensus of 90.

France's CAC 40 is up by 0.25% at publication time, after opening lower on Friday. Healthcare and consumer stocks are pushing the index higher.

Spain's IBEX 35 is down by 0.25%. Its trade balance deficit narrowed to €0.65 billion.

Forex Trading: U.S. Dollar Index futures are higher by 0.11% at 89.843. The dollar has strengthened against most major currencies, 0.05% against the Euro at $1.2260, 0.30% against the Sterling Pound at $1.3542, and 0.33% against the Japanese Yen at ¥103.44.

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

 

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