Global equities hit record highs and WTI oil tops $ 60 as ‘reflection trading’ going forward

WTI oil, the US benchmark, crossed $ 60 per barrel. Barrel

European stocks jumped in early trading on Monday, US futures rose and Asian stocks rose overnight as investors doubled their stakes that coronavirus vaccines and government stimulus will provide a quick rebound this year.

In the meantime West Texas Middle Oil rose past $ 60 for the first time in over a year as tensions in the Middle East and a cold snap in parts of the United States.

Europe Stoxx 600 index rose 0.8% in morning trading, while the UK FTSE 100 was 1.39% higher.

Futures for the Americans S&P 500 rose 0.29% even though the trade closes Monday to President’s Day.

The markets in China and Hong Kong were closed for the new year. But Japan Nikkei 225 jumped 1.91%.

The MSCI All World Index ended a record high Friday in the wake of investor confidence that economies will recover quickly in 2021.

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“As the number of viruses decreases in larger countries and vaccine rollout continues with adjustments and starts, market sentiment will improve,” said Marshall Gittler, head of investment research at trading platform BDSwiss.

“It also helps that the economic conditions are extremely loose, which means a lot of money is flowing around looking for a home,” Gittler added. “As a result, stock markets are moving further into a record high.”

Expectations of a strong rebound in demand when the economies recover have pushed oil prices to a one-year high.

Crude prices extended their rally overnight after a Saudi coalition said it had intercepted a drone fired by the Houthi group, which is adapted for Iran, according to state television.

The possibility of higher tensions in the Middle East combined with a potentially disruptive cold in Texas to send WTI raw to a height of close to $ 60.80 per. barrel. It last rose 1.87% to $ 60.57 and traded at levels not seen since January 2020. Burnt raw rose 1.33% to $ 63.26 per share. barrel.

Richard Hunter, market leader at Interactive Investor, said: “Hope for increased demand in the coming months along with controlled supply has been positive for an oil price that has risen by 22% so far this year.”

That bitcoin price slipped back from a record high of over $ 49,700 touched Sunday. It was 3.29% lower Monday morning at $ 47,528 on the Bitstamp Stock Exchange, after falling to $ 45,900 overnight.

That dollar index fell 0.19% to 90.31 as investors moved out of greenback to equities. Its fall helped push British pound up 0.39% to $ 1.3898, the highest level since spring 2018.

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