Investors continued to scoop up stocks in Asia and Europe today. Albeit, it was at a slower pace than the last two days. As financial market volatility recedes, increasing numbers of investors will likely get drawn into bargain hunting.
Indeed, many investors anticipate a year-end ‘Santa Claus’ rally similar to the ones that have occurred over the last couple of years. This year’s rally could get support from robust earnings that will likely come in at around 20% for the S&P 500 index.
Asian stocks were mixed today. A couple of the notable moves across Asia today:
- Japan’s NIKKEI 500 Index fell 0.60%;
- The Shanghai Composite Index rose 0.13%;
- Hong Kong’s Hang Seng Index is up 1.75%;
- South Korea’s KOSPI Index moved 0.26% lower;
- India’s SENSEX traded sideways;
European stock markets are mostly up in early trading. A look at some of Europe’s top indices shows:
- London’s FTSE Index is trading sideways;
- The German DAX Index gained 0.53%;
- The FTSE Italia All Shares Index rose 0.86%;
- The French CAC 40 Index is up 0.18% 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 Also Trading Higher in Pre-Market Action
The U.S. stock market is moving up in pre-market trading as investors continue to bargain hunt. Specifically, the NASDAQ and the S&P 500 futures are up 0.30% and 0.21%, respectively.
Finally, investors will continue to take their cues from the news cycle heading. Indeed, any new developments in the Trump legal morass or global trade disputes could see it drive markets in either direction.