The shares are set to enter the new year at a record high when the first trading day for 2021 months in Asia begins. Bitcoin’s tireless rally continued.
The S&P 500 and Dow Jones Industrial Average closed at an all-time high on December 31. Most markets around the world closed on January 1st. Bitcoin topped $ 34,000 on Sunday just weeks after another major milestone. The dollar opened mixed against its G-10 counterparts as transactions began in Sydney. The pound has fallen as Britain faces a tighter blockade to stop the coronavirus.
China’s actions will focus on what could be the main Chinese oil companies the next line for withdrawal from the US after the New York Stock Exchange said last week that it will eliminate the three largest telecommunications companies of the Asian nation. China’s CSI 300 benchmark closed last week at a five-year high.
Actions begin the new year with rich assessments amid expectations that large-scale distribution of vaccines in 2021, central bank support and government support will boost economic growth and increase corporate profits. The MSCI global stock index ended at a record high, after rising 14% last year.
Meanwhile, the cryptocurrency frenzy is showing no signs of slowing down. Bitcoin advanced by about 50% in December, for the biggest monthly jump in May 2019.
OPEC warned of risks to the oil market due to the invigorating pandemic, a day before the group and its allies meet to consider another increase in production.
As for the coronavirus, the launch of the vaccine in the US is growing rapidly after a slow start and could be on track in a week or so, said Anthony Fauci, the nation’s leading expert on infectious diseases. Cases in New York slowed down a day after the state went through a million total infections. British Prime Minister Boris Johnson has said stricter blockade measures will be needed in England, including school closures, as cases of the new virus continue to rise.
What to watch this week:
- OPEC + energy ministers are holding a monthly virtual meeting on Monday to decide whether to add up to 500,000 barrels a day to production.
- China Caixin will produce PMI on Monday.
- In the US, on Tuesday, the state of Georgia is organizing secondary elections for two seats in the US Senate that will decide the control of the chamber.
- The US Congress meets to count the electoral votes and declare the winner of the 2020 presidential election on Wednesday.
- The FOMC minutes come out on Wednesday.
- The US unemployment report for December is expected on Friday.
These are the main movements in the markets:
Inventories
- The S&P 500 index rose 0.6% on Thursday.
- Nikkei 225 futures changed a little earlier.
- The Australian S & P / ASX 200 futures index fell 1.2% earlier.
- In the long run, Hong Kong’s Hang Seng index fell 0.2% earlier.
currencies
- The yen was at 103.19 per dollar.
- The offshore yuan rose 0.1% to $ 6.4962.
- The Bloomberg Dollar Spot index rose 0.1% on Thursday.
- The euro rose 0.2% to $ 1.2240.
- The pound fell 0.1% to $ 1.3662.
BONDS
- The 10-year Treasury yield fell one basis point to 0.91%.
commodities
- West Texas Intermediate Oil was slightly lower at $ 48.52 a barrel.
- Gold was $ 1,898.67 an ounce.