The global markets rebound as Biden’s transition lifts investors hope
The progress reported by the pharma companies to deliver a COVID-19 vaccine caused the benchmarks to close in the green. The fact that Trump finally agreed with the transition of power at the White House added momentum. USA30 went up 1.54%, reaching its highest level since March. USA500 added 1.62%, while TECH100 inched up 1.31%.
Crude Oil closed 1.5% higher at $43.69 a barrel.
Gold settled at $1,804.60 per ounce after it lost 1.8%.
The Dollar Index traded at 92.235.
Asia and Australia
The benchmarks edged higher as President-elect Joe Biden received the formal go-ahead to begin his transition to the White House. Gains in the energy, real estate, and financial sectors contributed to the surge.
Japan225 surged 2.5%, reaching its highest level since May 1991.
HongKong45 went up 0.6%.
Down under, Australia200 closed 1.26% higher.
The markets ended higher as they are enthusiastic about the progress towards a viable COVID-19 vaccine. Also, one of the largest European economies posted a GDP rebound in Q3. Germany30 and UK100 each traded 0.6% higher. France40 rose 0.9%.
Brent Oil gained 1.1% to $46.57 per barrel.
EUR/USD closed at 1.1877 after it went up 0.3%.
Sources: reuters.com, investing.com
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of sc.capex.com