Global Stock Markets Mixed Following Wall Street’s Day Off

The global stock markets were mixed on Tuesday after Wall Street took a day off from trading on Monday for Presidents Day. The world stocks mostly increased Monday, even though Wall Street stayed shut as investors looked for main reports this week, including corporate earnings, economic data, and minutes from the last meeting of the Federal Reserve. Here’s what happened as Wall Street got ready to open following a 3-day break. Before closing, the US markets had set record highs on Friday.

Germany’s DAX, in early trading, rose 0.2% to 11,850.27, whereas London’s FTSE recoiled to 7,270.38 by 0.4%. France’s CAC remained the same at 4,862.55.On Monday, the CAC 40 lost 0.1% and the FTSE 100 dropped 0.2%, while the DAX rose 0.5%. Dow Jones industrial average’s future on Wall Street rose 0.2%, whereas that for S&P’s 500 progressed 0.1%.

The Greek bonds gained after the finance ministers of the euro zone shifted a step nearer to discharging more rescue loans for the nation.

Wall Street on Friday

The stock indexes attained record highs on Friday, crowning a fourth successive week of profits for the S&P’s 500 index. The S&P 500 climbed 0.2% to 2,351.16 points. The Dow Jones industrial average rose 0.1% to 20,624.05. The Nasdaq climbed 0.4% to 5,838.58. Sentiment has gained from last week’s reports indicating that the economy is enhancing and corporate gains are advancing more quickly than anticipated.

Fed Watch

The markets are waiting for the release of the Fed’s minutes from its policy meeting, which might offer new insight into the interest rates views of the US central bank. During the previous week, Janet Yellen, the chief of Fed indicated that it is likely to increase the pace of its interest rate rise if the job market stays healthy and inflation remains on track. The Federal Reserve is likely to release the minutes of its policy meeting on Wednesday.

City Index’s research director, Kathleen Brooks said – “The Fed minutes on Wednesday are likely to be the data highlight this week. However, Fed officials are unlikely to commit to a March rate hike, especially because the Fed has worked its way into a corner where it is now dependent on the Trump administration’s fiscal plans before it can change policy.”

Energy

The standard U.S. crude oil climbed to $54.16 per barrel by 38 cents in e-trading on the NYME (New York Mercantile Exchange). On Monday, the contract progressed 3 cents and closed at $53.78. Brent crude, which is used for pricing international oils, rose to $56.60 by 42 cents in London. On Monday, it gained 23 cents to $56.18.

Currency

From 113.37 yen on Monday, the dollar climbed to 113.51 yen. The euro fell from $1.0609 to $1.0562.

 

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