News is breaking that the US and Canada have come to an agreement that salvages the NAFTA treaty. This means that some adjustments to the free trade pact will be made and that it will continue going forward. The news gave a boost the equities in the US and Canada.
However, Asian stocks are trading sideways to start the week. A couple of the notable moves across Asia today:
- Japan’s NIKKEI 500 Index moved up 0.06%;
- The Shanghai Composite Index was closed for a national holiday;
- Hong Kong’s Hang Seng Index was closed for a national holiday;
- South Korea’s KOSPI Index is down 0.11%;
- India’s SENSEX Index fell 0.60%.
European stock markets are higher at the open today as they look past the trouble in Italy. A look at some of Europe’s top indices shows:
- London’s FTSE Index is up 0.24%
- The German DAX Index gained 0.73%;
- The FTSE Italia All Shares Index jumped 1.46%;
- The French CAC 40 Index rose 0.35% at the open.
European stock markets will continue to focus on issues within their own markets such as the Brexit negotiations and the Turkish Lira Crisis. Additionally, European investors are keeping a close eye on developments in Italy as investors have become fearful of potential anti-EU measures by the new government.
US Futures Are Trading Higher in Pre-Market Action
The U.S. stock market is moving strongly higher in pre-market trading. Indeed, the NASDAQ and the S&P 500 futures are up 0.77% and 0.57%, respectively.
Investors will continue to take their cues from the news cycle heading. Accordingly, any new developments in the Trump legal morass or global trade disputes could see it drive markets in either direction.