The shares are expected to enter a new high at a record high when the first day of 2021 trading starts in Asia on Monday. Bitcoin’s relentless recovery has continued.
The S&P 500 Index and the Dow Jones Industrial Average closed at historic highs on December 31st. Most markets around the world closed on January 1. Bitcoin reached $ 34,000 on Sunday, weeks after passing another major milestone. The dollar opened mixed against its G-10 peers with the start of trading in Sydney. The pound fell as the UK faces a tougher block to curb the coronavirus march.
China’s stocks will be in focus, as the main Chinese oil companies may be the next in the US delisting list after the New York Stock Exchange announced last week that it would remove the three largest telecommunications companies in the Asian country. China’s CSI 300 benchmark index closed higher in five years last week.
The actions are starting the new year with valuable assessments amid expectations that the widespread distribution of vaccines in 2021, central bank support and government aid will rekindle economic growth and increase corporate profits. The world stock index MSCI ended at a record high, after rising 14% last year.
Meanwhile, the cryptocurrency frenzy shows no signs of slowing down. Bitcoin advanced about 50% in December to the biggest monthly jump since May 2019.
OPEC warned of the risks of a resurgence of the pandemic to the oil market, a day before the group and its allies met to consider another increase in production.
In front of the coronavirus, the vaccine’s launch in the United States is picking up speed after a slow start and may be fully underway within a week or more, said Anthony Fauci, the country’s leading infectious disease specialist. New York cases declined a day after the state exceeded 1 million infections in total. UK Prime Minister Boris Johnson said that tougher blocking measures in England, including closing schools, are likely to be necessary as cases of the new strain of the virus continue to rise.
What to watch this week:
- The energy ministers of the OPEC + alliance hold their monthly virtual meeting on Monday to decide whether to add up to 500,000 barrels per day to production.
- China’s manufacturing PMI Caixin wins on Monday.
- On Tuesday, the state of Georgia will hold a second round for two US Senate seats that will decide to control the chamber.
- The US Congress meets to count the electoral votes and declare the winner of the 2020 presidential election on Wednesday.
- FOMC minutes are Wednesday.
- The US unemployment report for December is due Friday.
These are the main movements in the markets:
Stocks
- The S&P 500 index rose 0.6% on Thursday.
- The Nikkei 225’s futures have changed little previously.
- Australia’s S & P / ASX 200 futures fell 1.2% earlier.
- Hong Kong’s Hang Seng futures fell 0.2% earlier.
Coins
- The yen was at 103.19 per dollar.
- The offshore yuan rose 0.1%, to 6.4962 per dollar.
- The Bloomberg Dollar Spot Index was up 0.1% on Thursday.
- The euro rose 0.2% to $ 1.2240.
- The pound sterling fell 0.1% to $ 1.3662.
Titles
- Yield on 10-year Treasury bills fell by a basis point to 0.91%.
Commodities
- West Texas Intermediate crude changed little at $ 48.52 a barrel.
- Gold was at $ 1,898.67 an ounce.