The global markets were high on Biden and Pfizer - Monday Review, November 9

By: Miguel A. Rodriguez

11:01, 10 November 2020

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The benchmarks traded higher, boosted by both the US election and the potential COVID-19 vaccine

The US

Markets surged after Joe Biden claimed victory in the presidential election. Pfizer and BioNTech managing to develop a vaccine that’s 90% effective in preventing COVID-19 infection was another reason for the markets to celebrate. USA30 rose 2.95%, while USA500 was up 1.15%. TECH100 lost 1.5%.

Crude oil settled up 8.5% at $40.29 per barrel. Brent closed at $42.40 a barrel after it went up 7.5%.

Gold settled down 5% at $1,854.40 per ounce.

 

Asia and Australia

The benchmarks traded higher after Joe Biden won the presidential race against the current president Donald Trump. Moreover, the promising trade data for October that was released earlier increased the momentum.

HongKong45 gained 1.35%.

Japan225 jumped 2.16%.

Down under, Australia200 rose 1.69%.

 

Europe

The news that a vaccine against COVID-19 showed 90% effectiveness drove the markets higher. Joe Biden’s election contributed to the markets’ growth. Germany30 traded 1.9% higher. France40 rose 1.6%, while UK100 climbed 1.4%.

EUR/USD traded at 1.1867 after it lost 0.1%.

Sources: investing.com, reuters.com

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Most affected instruments

Germany 40

$ 10

TECH100

$ 10

USA500

$ 10

EUR/USD

$ 10

UK100

$ 10

JAPAN225

$ 10

HongKong50

$ 10

France40

$ 10

Australia200

$ 10

BrentOil

$ 10

GOLD

$ 10

USA30

$ 10