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Global markets higher amid US stimulus package - Tuesday Review, February 2

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 February 2021
Stimulus hopes boosted optimism. Stocks closed higher for the second consecutive day

The US

American stocks finished higher for the second consecutive day, driven by stronger-than-expected earnings. Also, the latest meeting between President Joe Biden and some Republican representatives to discuss the long-touted stimulus package gave investors hope.  USA30 rose 1.57%, while USA500 gained 1.39%. TECH100 added 1.56%.

Crude oil traded 1.2% higher at $54.20 per barrel.

Gold lost 0.7% trading at $1,851.80 per ounce.

 

Asia and Australia

The market sentiment was boosted by the two-hour meeting between Joe Biden and Republican senators who were looking for a smaller COVID-19 stimulus package.

Japan225 gained 0.96%.

HongKong45 rose 1.60%.

Down under, Australia200 gained 1.28%.

 

Europe

Indices closed in the green buoyed by the good corporate earnings, and the progress made toward a US stimulus package. Germany30 traded 1.1% higher, while France40 rose 1.4%. UK100 climbed 0.5% as the Bank of England is due to hand down its policy decision later this week.

Brent oil closed the day at $56.98 per barrel after it went up 1.1%.

EUR/USD was up 0.2% at 1.2077.

Sources: reuters.com, investing.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.