US equity futures and Asian stocks gained gains at the start of the week amid positive sentiment on trading in the region and were rejected after a national US lockout. Dollar dipped.
Shares opened higher in Japan and South Korea. Prior to the trade, the Australian stock market was held up by data. Asia Pacific nations including China, Japan and South Korea on Sunday Signed the world’s largest regional free-trade agreement. Meanwhile, the presidential election for Joe Biden He said that despite intensifying the epidemic, he opposed a nationwide US lockdown, instead favoring targeted local measures. Oil advanced and treasuries were stable.
On Friday, the S&P 500 and the Russell 2000 Index of Small Cap reached all-time highs. The tech-heavy Nasdaq 100 is underdeveloped amid a rotation of economically sensitive industries. Pound fluctuated Brexit negotiations remain barriers to reaching a trade deal.
Global stocks have reached pre-epidemic highs following optimism about a vaccine last week, leading to a rotation in price and cyclical sectors, weakening more defensive industries. Nevertheless, concerns about a sustainable economic recovery persist amid a flare-up. Cases around the world.
America’s coronavirus cases broke records on Friday and 11 cases resulted in 11 million infections after new cases exceeded 100,000. The country’s economy minister said that Germany should stay with “considerable restrictions” against the proliferation of Kovid-19 for at least the next four to five months.
“There is certainly a high degree of vibrancy that the potential shutdown in the US will weigh more in the near term and maybe so, but investor sentiment is highest since 2017,” said Chris Weston, head of research at Pepperstone Group Ltd. pay attention.
The Asia Pacific Trade Agreement covers one-third of the world’s population and GDP. It includes the 10 member Regional Comprehensive Economic Partnership or RCEP of the Association of Australia, New Zealand and South East Asian Countries.
Meanwhile, US President Donald Trump has planned several new hard-line moves against China in the remaining weeks of his term, according to Axis. They may include sanctions or trade sanctions against more Chinese companies, government entities or authorities, citing human rights violations, Axio reported, citing senior administration officials they did not identify.
Trump showed Joe Biden some signs of winning the presidential election, while hardly acting as if he were preparing for a second term.
Here are some events to watch for this week:
- China October due to industrial production, retail sales Monday.
- The Brexit negotiations are scheduled to continue as the UK and EU approach the latest deadline.
- The Bloomberg New Economy Forum virtually invites global leaders to discuss trade, growing political populism, climate change and epidemics. Former Federal Reserve Chairman Janet Yellen and Indian Prime Minister Narendra Modi are among the many speakers. Through November 19.
- The OPEC + Joint Ministerial Monitoring Committee met on Tuesday.
- US retail sales due Tuesday
- Bank Indonesia Rate Decision Thursday.
These are some of the main moves in the markets:
- The S&P 500 Index Future climbed 0.5% as of 9:17 am in Tokyo. The S&P 500 gained 1.4% on Friday.
- Topics index gained 1%.
- The S&P / ASX 200 index climbed 1.2%.
- The Cospi index gained 1.1%.
- The future of the Hang Seng Index rose 0.4% previously.
- The yen was slightly changed at 104.68 per dollar.
- The offshore yuan rose 0.2% to 6.5893 per dollar.
- The Bloomberg Dollar Spot Index fell 0.1%.
- The euro rose 0.1% to $ 1.1841.
- The pound climbed 0.2% to $ 1.3212.
- The yield on the 10-year treasury was 0.90%.
- Australia’s 10-year bond yield fell to 0.90%.
- West Texas Intermediate crude rose 0.9% to $ 40.49 a barrel on Friday.
- Gold was at $ 1,890.09 an ounce.
– assisted by Joanna Ossinger, and Ishika Mookerjee