Breaking News
Close
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

U.S. Opening Bell: Global Stocks Rise Ahead Of Busy Week For Central Banks

By Investing.com (Pinchas Cohen/Investing.com)Market OverviewDec 13, 2021 12:08
uk.investing.com/analysis/opening-bell-futures-global-stocks-rise-ahead-of-busy-week-for-central-banks-200504818
U.S. Opening Bell: Global Stocks Rise Ahead Of Busy Week For Central Banks
By Investing.com (Pinchas Cohen/Investing.com)   |  Dec 13, 2021 12:08
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
  • US futures edge higher after Friday's rally
  • Asia trading mixed
  • The Turkish lira continues to plummet

Key Events

On Monday, ahead of a week during which an array of global central bank policy decisions are scheduled, US contracts for the Dow Jones, S&P 500, NASDAQ and Russell 2000 all started the trading week higher, and European equities gained.

Yields dropped and the dollar rose.

Global Financial Affairs

At time of writing, all four US index futures were in the green, building on Friday's Wall Street rally. Earlier Monday, Russell 2000 contracts gained nearly twice as much as peer index contracts, though the gains have levelled off as we publish, indicating the reflation trade continues to waver.

Cyclicals were also in favour in Europe, pushing the Stoxx Europe 600 Index into a rebound, as iron ore jumped on speculation that China will increase stimulus next year, boosting demand for construction.

Most Asian benchmarks rose, shrugging off Friday's US data showing the highest inflation in almost 40 years. Investors seem relieved that the bad news was already baked in, suggesting the market has already repriced for the worst inflation in four decades, with some warning of a repeat of the '70s.

China's Shanghai Composite Index gained 0.4% on expectations the Asian nation will do more to stimulate the economy next year. Hong Kong's Hang Seng, however, slipped almost 0.2%

Japan's Nikkei 225 advanced 0.7% on hopes of an economic recovery. The current market narrative suggests local traders are hopeful that the week's robust central bank activity will boost investor confidence. The benchmark index ended a back-to-back selloff today, marking its first gain in three sessions after Japan's Core Machinery Orders rose in October, for the first time in three months.

On Friday, all four major US averages rose, with the S&P 500 Index scoring a new record close for the first time since Nov. 18. The broad benchmark ended the week higher for the first time in four weeks. The NASDAQ 100 and the Russell 2000 had their first weekly gains in five. For the tech-heavy NASDAQ 100, it was also the end of a two-week selloff.

Yields on the 10-year Treasury benchmark slipped today, perhaps indicating that bond traders have extended the buying that started on Thursday. 

The dollar rose today, in keeping with the up-down pattern seen over the past four sessions.

Dollar Daily
Dollar Daily

The greenback is retesting the top of a bullish pattern for the second straight session.

The pound sterling dropped, nearing its lowest level since November 2020, after UK Prime Minister Boris Johnson tightened social restrictions after warning that Britain is facing a "tidal wave" of Omicron contagion.

The Turkish lira plunge continued this morning.

USD/TRY Daily
USD/TRY Daily

Monday's move extended the currency's all-time low after S&P Global Ratings reduced its forecast for Turkey's sovereign credit rating to negative.

Gold was little changed, but this may be the quiet before the storm.

Gold 4-Hour Chart
Gold 4-Hour Chart

The precious metal could be setting up an H&S bottom on the 4-hour chart.

Bitcoin wiped out yesterday's gains and additionally trimmed some made on Saturday.

Oil opened higher on bets that China, the world's largest importer, will increase stimulus, thereby boosting economic activity and, along with it, oil demand. However, the energy commodity is struggling to maintain the price advance.

Up Ahead

Market Moves

Stocks

  • The Stoxx Europe 600 rose 0.3% as of 8:24 a.m. London time
  • Futures on the S&P 500 rose 0.3%
  • Futures on the NASDAQ 100 rose 0.2%
  • Futures on the Dow Jones Industrial Average rose 0.3%
  • The MSCI Asia Pacific Index fell 0.7%
  • The MSCI Emerging Markets Index fell 0.7%

Currencies

  • The British pound fell 0.3% to $1.3236
  • The Bloomberg Dollar Spot Index rose 0.2%
  • The euro fell 0.2% to $1.1286
  • The Japanese yen fell 0.2% to 113.62 per dollar
  • The offshore yuan rose 0.1% to 6.3688 per dollar

Bonds

  • Britain's 10-year yield was little changed at 0.74%
  • The yield on 10-year Treasuries slipped to 1.48%
  • Germany's 10-year yield was little changed at -0.34%

Commodities

U.S. Opening Bell: Global Stocks Rise Ahead Of Busy Week For Central Banks
 

Related Articles

Ipek Ozkardeskaya
Up And Down, Turn Around By Ipek Ozkardeskaya - May 25, 2022

Social media companies were hit hard yesterday, as Snap (NYSE:SNAP) dropped more than 43% in yesterday’s session alone and is down by 85% since its last September peak. Other...

U.S. Opening Bell: Global Stocks Rise Ahead Of Busy Week For Central Banks

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
DOWNLOAD APPApp store
Investing.com
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
or
Sign up with Email