Global Markets Cheer Joe Biden's Victory

Shares have staged a big market rally globally on Monday as investors cheer President-elect Joe Biden's victory, hoping for election-driven market uncertainty to fade.

Major U.S. futures have also advanced in Monday's early trade, with the Dow futures up 1.34%, S&P 500 futures up 1.55%. The VIX futures are down 3.04%, indicating fizzling market volatility. WTI crude futures have gained 2.45% to $38.05, while gold futures are up by 0.58% to $1,963. Ten-Year Treasury yield is edging lower by 1.5 basis point to 0.805%.

Asia: Japan's Nikkei 225 closed up 2.12% on Monday, on top of a 5.9% gain in the last week. The nation's Leading Index improved to 92.9, beating a consensus of 88.6. Current Account and bank lending data are scheduled to release late Monday.

China's Shanghai Composite benchmark gained 1.86% by Monday's close, lea by gains across all sectors, with financial and technology shares leading the charge. Consumer Price Index and Producer Price Index data is due to release today.

Australia's S&P/ASX 200 rallied 1.75% on Monday. Investors will be watching National Australia Bank's Business Confidence Index data due today.

Hong Kong's Hang Seng index closed up 1.14%, while India's Nifty 50 was trading higher by 1.39% on last check Monday. 

Europe:  Euro Stoxx 50 gained 1.74% at press time Monday on hopes of better trade ties between Washington and Europe. European Central Bank President Christine Lagarde is due to speak late Monday.

London's FTSE 100 index is trading higher by 1.58% at publication time, with all the sectors rising. Housing price balance data, retail sales monitor, and Bank of England Governor Andrew Bailey's speech will be in focus on Monday.

Germany's DAX is up a massive 1.95% in Monday's early trade after gaining 8% in the last week. Germany's trade balance surplus increased in September to EUR 17.8 billion, beating a consensus of EUR 15.8 billion. The current account balance also improved to EUR 26.3 billion.

France's CAC 40 is up by 1.74% at press time, driven by gains in energy and materials shares. Spain's Ibex 35 index was up by 1.52%. 

Forex Trading: U.S. Dollar Index futures have gained 0.11% to 92.328. The dollar has strengthened 0.03% against the Euro to $1.1869, 0.05% against the Sterling to $1.3150, 0.21% against the Japanese Yen to JPY 103.55. Chinese Yuan has gained 0.42% against the greenback to CNY 6.5802.

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