HomeTop Global NewsEuropean and Asian Stocks Rise Amid China Optimism

European and Asian Stocks Rise Amid China Optimism

European and Asian markets were on the rise on Monday morning as optimism regarding China’s economic recovery continues to rise. Such investor confidence appeared to outweigh concerns over a flailing dollar as U.S. borrowing costs are expected to remain higher for longer.

The Stoxx Europe 600 edged 0.2% higher, marking its fifth daily rise in six days, while the MSCI Asia Pacific Index embarked on a 0.6% rise. The Shanghai Composite Index embarked on its biggest rise since November.

U.S. futures retreated, on the other hand, with contracts on the S&P 500 and the Nasdaq 100 declining by 0.1% each. Dow Jones futures remained little changed.

As investor confidence wavered following hawkish comments by the Federal Reserve, U.S. Treasury futures wavered, with the yield on 10-year Treasuries standing at 3.81%. The Bloomberg Spot Dollar Index remained little changed, however, the offshore yuan strengthened against the U.S. dollar by 0.2%, standing at 6.8631 per dollar.

Looking at commodities, oil futures advanced, with brent crude oil rising by 0.9% to $83.76 per barrel while spot gold remained largely unchanged. Bitcoin continued its fall after its resurgence last week, retreating 0.3% to $24,470. Ether rose 0.4% to $1,692.62.

U.S. Futures Fall Ahead Of Nvidia Earnings

U.S. futures slipped early Wednesday as investors awaited the quarterly earnings report from chipmaker Nvidia Corporation. Contracts listed on the tech-heavy Nasdaq 100 slipped...

Caesars Misses Quarterly Revenue Target

Caesars Entertainment shares dropped by 1.5% in extended training on Tuesday after the company reported lower-than-expected earnings for the fourth quarter. The Casino operator,...

Goldman Sachs Lifts S&P 500 Target Amid Rising Performance

Goldman Sachs has decided to lift their 2024 target for the S&P 500 Index for the second straight month after the index exceeded 5,000...