Asia Mixed And Europe Up, Dollar Gains To 3-Month High - Global Markets Today While US Slept

On Friday, November 8, U.S. markets rallied, with the S&P 500 briefly surpassing the 6,000 mark and posting its most substantial weekly gain in a year. The surge was driven by Donald Trump’s election win, expectations of pro-business policies, and an anticipated Fed rate cut. Optimism over a potential Republican sweep in Congress boosted investor sentiment, pushing the Nasdaq to record highs and securing the S&P’s 50th record close of the year.

According to economic data, the University of Michigan’s consumer sentiment index increased to 73 in November, marking its highest level in seven months. This figure surpassed both October’s reading of 70.5 and market expectations of 71.

Most S&P 500 sectors gained, led by consumer staples, utilities, and real estate, while materials and communication services lagged.

The Dow Jones Industrial Average was up 0.59% and closed at 43,988.99, the S&P 500 rose 0.38% to 5,995.54, and the Nasdaq Composite gained 0.09% to finish at 19,286.78.

Asia Markets Today

• On Monday, Japan’s Nikkei 225 gained 0.18% and ended the session at 39,539.50, led by gains in the Shipbuilding, Railway & Bus, and Services sectors.
• Australia’s S&P/ASX 200 fell 0.35% and ended the day at 8,266.20, led by losses in the Metals & Mining, Resources and Materials sectors.
• India’s Nifty 50 traded lower by 0.11% at 24,122.10 and Nifty 500 was down 0.32% at 22,572.70.
• China’s Shanghai Composite rose 0.51% to close at 3,470.07, and the Shenzhen CSI 300 gained 0.66%, finishing the day at 4,131.13.
• Hong Kong’s Hang Seng fell 1.45% and closed the session at 20,426.93.

Eurozone at 05:30 AM ET

• The European STOXX 50 index was up 1.24%.
• Germany’s DAX gained 1.37%.
• France’s CAC rose1.20%.
• U.K.’s FTSE 100 index traded higher by 0.90%.
• European markets opened on a positive note, lifted by record highs on Wall Street and a recent Fed rate cut. Gains were seen across major indices, although political uncertainty lingers due to Trump’s reelection and instability within Germany’s coalition government.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading lower by 1.06% at $69.31/bbl, and Brent was down 1.29% at $72.92/bbl.
• Oil prices remained steady as concerns over U.S. storm disruptions eased and China’s stimulus plan disappointed investors. Weak demand growth in China and expectations of increased U.S. output under Trump’s administration further weighed on the market outlook.
• Natural Gas gained 6.18% to $2.834.
• Gold was trading lower by 0.71% at $2,675.60, Silver rose 0.36% to $31.562 and Copper slipped 0.24% to $4.2945

US Futures at 05:30 AM ET

Dow futures gained 0.37%, S&P 500 futures up 0.27%, and Nasdaq 100 futures rose 0.22%.

Forex at 05:30 AM ET

• The U.S. dollar index increased by 0.26% to 105.27, the USD/JPY rose by 0.73% to 153.75, and the USD/AUD rose by 0.01% to 1.5180.
• The U.S. dollar strengthened to three-month high, continuing gains from Trump’s election win, which raised expectations of inflationary policies and slower Fed rate cuts. Despite a recent rate reduction, the dollar retained most of its gains, with the focus shifting to upcoming inflation data.

Photo by Pavel Bobrovskiy via Shutterstock