After last week’s selloff, confidence remains brittle
The US
Wall Street rallied as investor sentiment was boosted by full FDA approval of a COVID-19 vaccine. Moreover, traders looked forward to the Jackson Hole Symposium expected later this week. USA30 rose 0.61%, while USA500 gained 0.85%. TECH100 added 1.55%, closing at an all-time high.
Crude oil traded 2% higher at $63.38 a barrel.
Gold rose 0.2% to $1.787.80 per ounce.
Asia and Australia
Stocks were up as investors bargain-hunted after the previous week’s selloff.
HongKong45 traded 1.27% higher, as China was looking to continue its regulatory tightening across sectors. Investors were monitoring the impact on Chinese and Hong Kong shares, which lost more than $560 billion in the previous week alone.
Japan225 jumped 1.38%.
Down under, Australia200 edged up 0.12%.
Europe
Markets traded higher, boosted by bargain-hunting after last week’s sharp decline. Still, the European economic data points to a slowing global recovery. Germany30 went up 0.1%, and France40 rose 0.6%. UK100 climbed 0.3%.
Brent oil rose 2% to $66.04 per barrel.
EUR/USD traded at 1.1710 after it gained 0.1%.
Sources: investing.com, reuters.com
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