US stock futures points to gains Tuesday after markets closed Monday for U.S. Presidential holiday.
|Me: DJI||DOW JONES AVERAGE||31458.4||+27.70||+ 0.09%|
|SP500||S&P 500||3934.83||+18.45||+ 0.47%|
|I: COMP||NASDAQ COMPOSITE INDEX||14095.474073||+69.70||+ 0.50%|
Optimism remains over stimulus measures, including trillions of dollars more help from the US government. Some companies have released surprisingly strong earnings reports, increasing investor enthusiasm.
“Global stock markets continue to rise into this week with the many positive factors, including US fiscal stimulus hopes, positive earnings and vaccine development, supporting emotions,” said Jingyi Pan, senior market strategist at IG in Singapore.
U.S. benchmarks ended last week at record highs.
Meanwhile, Asian stocks rose on Tuesday, lifted by the economic recovery, vaccine rollout and signs that new coronavirus cases may subside.
Shanghai was still closed for the lunar New Year.
Japan’s benchmark Nikkei 225 jumped 1.3% to close at 30,467.75 after closing the day before over 30,000 for the first time since August 1990. In Hong Kong, Hang Seng added 1.9% to 30,746.66. South Korea’s Kospi rose 0.5% to 3,161.78, while Australia’s S & P / ASX 200 added 0.7% to 6,917.30.
Despite data showing that regional economies have been hit hard by the pandemic, investors are still sending indices higher. Analysts believe that Asian equities will continue to rise, cheering on recent gains in the US and European markets.
Hope for an improvement is driven in part by the COVID-19 vaccine rollout, said Prakash Sakpal, senior economist at Asia at ING.
“Gains are likely to still be limited as investors remain wary of newer strains of the variant, which may be more resistant to existing vaccines,” he added.
A vaccine rollout starts in Japan this week, a nation lagging behind the United States and Europe with the vaccinations. It begins with about 20,000 medical workers followed by 3.7 million more medical workers. The government’s goal is to have shots available for the elderly in April and for everyone by June.
Government data earlier this week showed that the Japanese economy had recovered from the decline in growth experienced earlier during COVID-19, but contracted by 2020 in general. It is unclear whether the world’s third largest economy can remain on the growth track, as concerns continue with an ongoing wave of infections.
Uncertainty about whether the Olympics in Tokyo can continue in July, postponed from last year, without foreign spectators or perhaps no spectators at all, increases the darkness.
In energy trading, the US benchmark added crude oil 75 cents to $ 60.22 per barrel. Barrel of electronic trading on the New York Mercantile Exchange. It got $ 1.23 to $ 59.47 per share. Barrel on Friday. Brent crude oil, the international standard, received 26 cents at $ 63.56 per barrel. Barrel. In foreign exchange trading, the US dollar cleared up to 105.51 Japanese yen from 105.39 yen. The euro strengthened to $ 1.2138 from $ 1.2131.
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