Today’s Market News |
Key developments on Monday: |
|
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading higher
|
43,988.99 | +259.65 | 0.59%Positive |
|
trading higher
Nasdaq Composite Index
.IXIC |
19,286.78 | +17.32 | 0.09%Positive |
|
trading higher
S&P 500 Index
.SPX |
5,995.54 | +22.44 | 0.38%Positive |
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading lower
Nikkei Index
.N225 |
39,440.70 | -59.67 | 0.15%Negative |
|
unchanged
Hang Seng Index
.HSI |
20,728.19 | — | — |
|
trading lower
S&P BSE SENSEX Index
.BSESN |
79,486.32 | -55.47 | 0.07% |
Investors in Asia have their first chance on Monday to react to a batch of key economic indicators and news out of China, and should do so in a relatively bullish frame of mind after the record-setting rally on Wall Street on Friday.
The S&P 500 rose above 6,000 points for the first time, continuing its powerful rally following Donald Trump’s victory in the U.S. presidential election on Tuesday and the Federal Reserve’s interest rate cut on Thursday.
That sealed a weekly gain of almost 5%, the S&P 500’s best week since September 2023. This helped lift the MSCI World equity index to a new high on Friday, too.
U.S. election and Fed rate cut super-charged risk appetite and the dollar, while investors also navigated a UK rate cut and the collapse of the German government.
The news flow from China was potentially no less significant for investors, although the outlook is not quite as uniformly bullish for local or risk assets.
China unveiled a 10 trillion yuan ($1.4 trillion) debt package to ease local government financing strains and stabilize flagging economic growth. But this will disappoint investors, who had built up hopes for something special to pre-empt another round of fractious Sino-U.S. tensions and trade barriers.
DXY clocked its sixth weekly gain in a row last week, something not seen since August-September 2023.
For more news visit Reuters.com
