The global markets rebound as Biden’s transition lifts investors hope
The US
The progress reported by the pharma companies to deliver a COVID-19 vaccine caused the benchmarks to close in the green. The fact that Trump finally agreed with the transition of power at the White House added momentum. USA30 went up 1.54%, reaching its highest level since March. USA500 added 1.62%, while TECH100 inched up 1.31%.
Crude Oil closed 1.5% higher at $43.69 a barrel.
Gold settled at $1,804.60 per ounce after it lost 1.8%.
The Dollar Index traded at 92.235.
Asia and Australia
The benchmarks edged higher as President-elect Joe Biden received the formal go-ahead to begin his transition to the White House. Gains in the energy, real estate, and financial sectors contributed to the surge.
Japan225 surged 2.5%, reaching its highest level since May 1991.
HongKong45 went up 0.6%.
Down under, Australia200 closed 1.26% higher.
Europe
The markets ended higher as they are enthusiastic about the progress towards a viable COVID-19 vaccine. Also, one of the largest European economies posted a GDP rebound in Q3. Germany30 and UK100 each traded 0.6% higher. France40 rose 0.9%.
Brent Oil gained 1.1% to $46.57 per barrel.
EUR/USD closed at 1.1877 after it went up 0.3%.
Sources: reuters.com, investing.com
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