Global Stocks Ends the Day on Record Levels

Global Stocks Ends the Day on Record Levels Global stocks ends the day on record levels Thursday, while European stocks soared with progress in the current vaccination process. Joe Biden's victory in the US presidential election continued to push the markets up, reaffirming the hopes of more stimulus packages. Global stock markets are at their best in November, hoping that the Biden administration will provide more economic incentives and political stability as the news of a series of positive vaccines boom. MSCI, which tracks stock indices in 49 countries, said markets hit a record high on Wednesday. Noted that as of 11:42 GMT on Thursday, the market increased 0.1 percent. Markets apparently did not care much about the recent increase in unemployment claims in the US. For Europe's STOXX 600, November was also at record levels, rising 14.4 percent. It decreased by 0.1 percent during the day. Kiran Ganesh, a multi-wealth strategist at UBS (a Swiss bank based in Zurich.) said, “Markets look forward to 2021, when vaccines are launched and economic activity will return to normal.” “Trade in particular is moving away from large interest rate limits to small interest rate limits, from US stocks to Europe, away from technology and to some periodic events,” said Ganesh about the rise of stocks. The markets also gained strength from the US Federal Reserve's meeting held on November 4-5. Officials are discussing how the central bank's asset purchases can provide additional support to the economy. It was stated that policy makers could publish new updates about the bond purchase "very soon".       G3 central bank balance sheets - Federal, European Union and Japanese Central Banks     US markets closed for Thanksgiving on Thursday “2021 will be the year the economy finds its own level,” said Samy Chaar, chief economist at Lombard Odier. He added, “When you keep the epidemic under control, economic stability is achieved very quickly.” The US dollar retreated overnight, but experienced a recovery during the ensuing European session. Against a 'Currency basket', London transactions reached their lowest in nearly three months, holding 92,056 at 11:53 GMT. The USD fell 0.2 percent at 104.24 at 11:54 am against the safe-haven Japanese yen. On Thursday, US markets were closed for Thanksgiving. Biden urged Americans to avoid large family gatherings and to maintain social distance by wearing protective masks during this time of increase in COVID-19 cases. The announced consumer confidence in France and Germany fell in the shadow of new restrictions in November. For the time being, data continue to challenge the idea of ​​a rapid return to normal in the two largest economies in the European region.   London FTSE 100 fell 0.5 percent German Chancellor Angela Merkel said in a statement in parliament that quarantine measures could be implemented, at least until the end of December, possibly longer. The Euro fell 0.1 percent against the US Dollar from $ 1.18995, while the Euro-Pound rose 0.3 percent to 89.23 pence per euro. Investors in the UK are following the trade talks between the UK and the European Union, although there is still a month or so until the current transition period ends on December 31st. "It's pretty clear what the deal looks like," British Finance Minister said on Thursday, but said Britain will not sign a deal at all costs. The UK announced new activity restrictions to be applied after the end of a month-long quarantine measures on December 2 this week. After these statements, the London FTSE 100 fell 0.5 percent. Eurozone government bonds did not change significantly, with Germany's benchmark bond yield minus 0.584 percent. Oil prices plummeted, settling on an uptrend Wednesday when futures reached their nearly eight-month high. It was observed that gold prices soared as investors argued that the unsettling US economic data would lead to further recovery.         Source: https://finance.yahoo.com/ You may also be interested in: Switzerland Starts Trading Bitcoin