Market Overview

Expanded US Aid, Vaccine Deal, Brexit - What's Impacting Global Markets Today?

Expanded US Aid, Vaccine Deal, Brexit - What's Impacting Global Markets Today?

As the U.S. House approves the $2,000 coronavirus aid checks on Monday, traders worldwide rejoice in the move leading to a global market rally.

The Dow and the S&P 500 futures are up 0.49% each on the last check Tuesday. WTI crude futures are higher by 1.15% at $48.17, and gold futures are up by 0.26% at $1,885.30. Ten-year Treasury yield is higher by 1.5 bps to 0.948%, and the VIX is down 1.37% to 23.35. 

Asia: Japan's Nikkei 225 rallied 2.66% to close at a three-decade high. Airline stocks gained 4.46% as the economy is set to reopen with vaccine roll-out.

China's Shanghai Composite fell 0.54%, dragged lower by material and energy stocks, which saw profit booking.

Hong Kong's Hang Seng gained 1.02% on Tuesday, driven by gains in industrial stocks. Alibaba Group Holding Ltd (NYSE: BABA) and Xiaomi Corp (OTC: XIACF) gained more than 5% in Hong Kong.

Australia's S&P/ASX 200 gained 0.53%, coming from the four-day holiday. India's Nifty 50 index was up 0.39% at press time.

South Korea's KOSPI advanced 0.42% on Tuesday after the nation's consumer confidence index for December fell to 89.8. Moderna Inc (NASDAQ: MRNA) has also agreed to supply South Korea with COVID-19 vaccines for 20 million people. 

Europe: Euro Stoxx 50 is up 0.74% at publication time, on track for its fifth-straight day of gains. Vaccine roll-out campaigns, Brexit deal, and an expanded U.S. stimulus are adding to investor optimism.

FTSE 100 is rallying 2% at press time as investors cheer the Brexit deal after a four-day holiday in the U.K. All sectors except banks are trading in green. AstraZeneca plc (NASDAQ: AZN) is up 4.5% in London, while Lloyds Banking Group PLC (NYSE: LYG) has lost nearly 4%.

Germany's DAX is up by 0.58% France's CAC 40 is trading higher by 0.51%. France Jobseekers total increased marginally to 3.59 million.

Spain's IBEX 35 has gained 0.57% on the last check, driven higher by technology and services stocks. The index is on track to clock gains for the fifth straight day.

Forex Trading: U.S. Dollar Index futures are down 0.30% at 90.002. The dollar has weakened 0.25% against the Euro, 0.48% against the Sterling Pound, 0.12% against the Japanese Yen, and 0.07% against the Chinese Yuan.


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