Stocks struggled at the beginning of the week - Monday Review, November 30

Stocks struggled at the beginning of the week - Monday Review, November 30

Vaccine news is starting to lose its effect on the markets. New Sino-US tensions are in focus

The US

The majority of benchmarks ended in the red as the Trump Administration was considering banning two major Chinese entities: SMIC and CNOOC. USA30 fell 1.1%, while USA500 went down 0.5%. TECH100 rose 0.04%.

Crude Oil lost 0.4% and traded at $45.34 per barrel.

Gold traded at $1,780.86 per ounce after it closed down 0.4%.

The Dollar Index traded at 91.847 after it gained 0.05%.

Asia and Australia

Japan225 gained 0.01% after the industrial production grew 3.8% in October, missing the 3.9% consensus.

HongKong45 edged down 0.18% as the number of COVID-19 infections continued to rise, leading to schools’ closure.

Down under, Australia200 lost 0.71% ahead of the Reserve Bank’s monetary policy meeting.

Europe

Even though Pfizer’s vaccine could receive approval from the UK’s regulators didn’t move the markets. Moreover, the fact that the European Medicines Agency could consider both Pfizer’s and Moderna’s vaccines eligible for use, left the benchmarks unimpressed. Europe50 slipped 1%, while Germany30 was down 0.3%.

France40 fell 1.4%. UK100 inched 1.6% lower.

Brent Oil traded 0.6% lower at $48.18 a barrel.

EUR/USD closed 0.07% lower at 1.1954.

Sources: marketwatch.com, investing.com

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