Global stocks have started the week off strongly in pre-market trading. Moreover, they seem to have forgotten about the brewing US-China trade war. Early in the day, Asia shares climbed right out of the gate and closed the day deep in the black.
- A couple of the notable moves across Asia:
- The Shanghai Composite Index surged 2.47% higher;
- Japan’s NIKKEI 500 Index climbed a healthy 1.21%;
- Hong Kong’s Hang Seng Index moved up 1.32%;
- South Korea’s KOSPI Index is up 0.57%;
- India’s SENSEX Index climbed 0.88%.
While it did not surge out of the gate, European shares opened the trading day modestly higher. A look at some of Europe’s top indeces shows:
London’s FTSE Index opened up 0.33%;
The German DAX Index is up marginally at 0.15%
The French CAC 40 Index gained 0.58% at the open.
The rise n European shares were slightly tempered by yet another setback in the Brexit process.
The UK’s Brexit minister David Davis resigned. This deals a blow to UK Prime Minister Theresa May’s government and her efforts to negotiate an exit out of the European Union.
US Futures Are in the Black in Pre-Market Trading
The US stock market seems invulnerable to bad news as of late. And it continues that trend today as the S&P 500 and NASDAQ are both up in pre-market trading.
The S&P 500 and NASDAQ futures are up 0.32% and 0.37%, respectively. This week will be relatively light week in terms of the economic calendar.
Accordingly, investors will likely take their cue from the news cycle. Any new developments global trade disputes could see it drive markets in either direction.