US stock futures rose further as optimism over a Covid-19 aid bill was tempered by the emergence of a new variant of the virus and a series of blockages and travel borders to contain it.
In the long run, futures stocks rose modestly, with contracts for the Nasdaq 100 having a higher technological performance than those on the S&P 500. US lawmakers approved a $ 2.3 trillion bill and spending stimulus at the end of the year. yesterday’s package, which now passes to President Donald Trump to sign. The treasury and the dollar reduced a previous advance.
In Europe, stocks have recovered from the sharpest decline in almost two months, with all but one industry group in green. The owner of British Airways, IAG SA, increased by up to 5.5% as travel shares rebounded. Oil fell for a second day.
The global stock rally looks increasingly fragile after stocks hit a record high last week as blockages and rising virus cases threaten to overshadow the US pandemic amelioration and the initial launch of vaccines. The bill passed by Congress Monday is the second largest economic bailout package in American history.
“The agreed tax package will undoubtedly help to alleviate some of the negatives, but unfortunately will not be able to fully offset the effects of people staying at home, as many companies face stricter restrictions or are even forced to close. “, According to James Knightley, chief international economist at ING Groep.
In the United Kingdom, where the virus variant was imposed, a complete blockade came into force in London and the south-east of England. Europe and the regions from Canada to Hong Kong have suspended travel to the island nation, putting pressure on the government as it seeks to salvage a free trade agreement with the European Union.
bloc rejected the last concessions of Prime Minister Boris Johnson on fishing rights, keeping the pound lower.
Here are some key events that occur:
- The EIA crude oil inventory report is set to be released on Wednesday.
- US unemployment claims, durable goods, personal income data come on Wednesday.
- Bond and stock trading in the US and markets in other parts of the world will close early Thursday for the Christmas holidays. Most global markets are closed on Friday.
These are the main movements in the markets:
Inventories
- The developments on the S&P 500 index rose by 0.2% starting with 7:19, New York time.
- The Stoxx Europe 600 index rose 0.8%.
- The MSCI Asia Pacific Index fell 0.9%.
- The MSCI emerging market index decreased by 0.4%.
currencies
- The Bloomberg Dollar Spot index has changed slightly.
- The euro gained 0.1% to $ 1.2255.
- The pound fell 0.3% to $ 1.3428.
- The terrestrial yuan strengthened by 0.1% to 6.541 per dollar.
- The Japanese yen was slightly unchanged at $ 103.34.
BONDS
- The 10-year Treasury yield gained less than one basis point, to 0.94%.
- The two-year Treasury yield fell by less than one basis point to 0.12%.
- Germany’s 10-year yield rose one basis point to -0.57%.
- Japan’s 10-year yield fell by less than one basis point to 0.01%.
- The British 10-year yield gained two basis points, to 0.229%.
commodities
- West Texas Intermediate Oil fell 1.2% to $ 47.39 a barrel.
- Crude oil fell 1% to $ 50.42 a barrel.
- Gold lost 0.2% to $ 1,873.20 an ounce.
– With the assistance of Macarena Munoz Montijano, Gregor Stuart Hunter and Andreea Papuc