Worldwide stock trading sessions showed a positive trend behind the United States (US) market which remained closed following the Independence Day celebrations.
European stocks entered a 0.8% rally while Britain’s FTSE reached 1% on oil and gas company support yields.
The MSCI world equities index gained 0.38%, after posting a loss of 2.3% last week while the MSCI Asia-Pacific broad gauge of stocks outside Japan rose 0.34% and Japan’s Nikkei rose 0.84%.
The Chinese market saw the country's blue -chip stocks close 0.7%higher, driven by a surge in health -themed stocks at 4.65%.
The Wall Street market remained in close with the S&P 500 and Nasdaq Composite futures falling 0.4% and 0.5%, respectively.
Comment Sebastien Galy from Nordea Asset Management, the market is trying to find a site but volatility continues to affect the movement.
Treasury yields also closed but futures extended gains with 10 -year yields at around 2.88%, after falling 61 basis points from the June peak.
Currency movements saw the dollar move gloomily 0.06% at 104.99 against another number, moving away from a 20 -year high.
The euro grabbed a $ 0.13 gain at $ 1.0442 with expectations of a rate hike by the European central bank (ECB) helping the jump while the dollar reached 0.3% at 135.48 Yen, after hitting a 24 -year high of 137.01 last week.
As for commodities, oil was flanked by concerns over supply issues after the Organization of the Petroleum Exporting Countries (OPEC) cut production, unrest in Libya and Russian sanctions have made prices skyrocket.
That string, Brent crude jumped 1.25% at $ 113.02 while US crude jumped 1.2% at $ 109.76.
Market Focus After the US Holidays
On the other hand, the U.S. is currently in a recession with the Federal Reserve’s (Fed) Atlanta’s gross domestic product (GDP) reading forecast declining -2.1% annually for the 2nd quarter.
Moreover, the payroll report is expected to see a slower growth rate to 270,000 in June with average earnings weakening 5.0%.
Meanwhile, the minutes of the Fed’s policy meeting on Wednesday are expected to be hawkish as the committee set a rate hike of 75 basis points.
