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Positive Vaccine News, Brexit, Weak US Dollar — What's Moving Global Markets Today?

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Positive Vaccine News, Brexit, Weak US Dollar — What's Moving Global Markets Today?

Major indices worldwide continue the year-end rally on Wednesday as the world progresses on the COVID-19 vaccine front. 

Moderna Inc (NASDAQ: MRNA) announced a worker vaccination plan late Tuesday, and Regeneron Pharmaceuticals Inc (NASDAQ: REGN) COVID-19 antibody cocktail showed positive results in early-stage trials for hospitalized patients.

The Dow futures are up by 0.37%, and the S&P 500 futures are higher by 0.43%. WTI crude futures are higher by 0.65% to $48.31, whereas gold futures are down marginally by 0.03% at $1,882.40. Ten-year Treasury yield is higher by 1.5 bps to 0.95%, and the VIX is down 1.32% to 24.30. 

Asia: Japan's Nikkei 225 dipped 0.45% on profit booking after hitting a three-decade high on Tuesday. 

China's Shanghai Composite gained 1.05% at Wednesday's close, driven by gains in consumer and environmental protection stocks. The country's Sinopharm Group (OTC: SHTDY) said its BBIBP-CorV COVID-19 vaccine showed 79.34% efficacy. China's manufacturing PMI number is due later today.

Hong Kong's Hang Seng rallied 2.25%, driven by gains in tech stocks like Alibaba Group Holding (NYSE: BABA) and Tencent Holdings (OTC: TCEHY).

Australia's S&P/ASX 200 closed lower by 0.27, snapping a three-day rally. India's Nifty 50 index is trading higher by 0.14% at press time.

South Korea's KOSPI advanced 1.88%, ending at a record high since 2009. The nation's industrial production for November grew 0.5% year-over-year and retail sales fell 1% month-over-month. December CPI data is due later today.

Europe: Euro Stoxx 50 is up by 0.05% at publication time after AstraZeneca plc's (NASDAQ: AZN) COVID-19 vaccine received U.K. approval for emergency supply. European stocks are hovering near a 10-month high, inspired by the Brexit deal.

FTSE 100 is near flat at press time. Bank stocks are trading higher, and AstraZeneca's shares in the U.K. have gained 1%. December's nationwide home price index grew 7.3% YoY and 0.8% MoM, beating the consensus on both counts.

Germany's DAX is down by 0.02%, and France's CAC 40 is trading near flat. Spain's IBEX 35 has lost 0.10% on the last check after Spanish CPI fell 0.5% YoY.

Forex Trading: U.S. Dollar Index futures are down 0.07% at 89.852. The dollar has weakened 0.08% against the Euro, 0.38% against the Sterling Pound, 0.26% against the Japanese Yen, and 0.05% against the Chinese Yuan.

 

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