• Latest
  • Trending
  • All
Stocks upbeat, oil at one-year highs

Stocks upbeat, oil at one-year highs

February 3, 2021 03:53
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Wednesday, March 22, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Stocks upbeat, oil at one-year highs

Stocks upbeat, oil at one-year highs

by Stephen Soo
February 3, 2021 03:53
in Fundamental analysis
0
Stocks upbeat, oil at one-year highs

Markets rise amid signs that Democrats could pass the package without Republican support

Wall Street stocks finished sharply higher overnight, as market players were encouraged by the prospect of more fiscal aid from Congress, gathering pace of vaccines, and fairly upbeat corporate earnings while the panic related to heavily shorted stocks like GameStop Corp. abated. As a result, the S&P 500 index rose 1.39%, the Dow Jones Industrial Average gained 1.6%, and the tech-heavy Nasdaq Composite rallied 1.6%.

Asian equities were mostly positive on Wednesday as vaccine roll-out programs accelerated across the globe. Markets also rose due to renewed hopes for Biden’s aid bill amid some signs that Democrats could pass the proposed package without Republican support. As such, Tokyo’s Nikkei 225 rose 1.0% and the Kospi in South Korea edged 1.06% higher. Australia’s S&P/ASX 200 surged 0.92%, the Hang Seng in Hong Kong gained 0.25 while the Shanghai Composite index bucked the trend, shedding nearly 0.5% during the session.

In Europe, stocks started the day on a firmer footing on the more positive risk backdrop. Leading the gains, Italy’s FTSE MIB is rallying as much as 2.25% on news that former ECB President Mario Draghi is set to form a government in Italy. The pan-European Stoxx 600 climbed 0.8% in early trade.

Meanwhile, the dollar retains a bullish tone following the recent rally to two-month highs versus the euro amid expectations of a more rapid economic recovery in the United States as compared to the Eurozone. EURUSD has barely held above the 1.2000 figure yesterday while keeping a slight bearish bias on Wednesday as traders await US ADP employment data due later today.

Elsewhere, oil prices set fresh one-year highs above $58 in recent trading amid positive risk sentiment and upbeat API report that pointed to a 4.4-million-barrel decline in the US crude oil inventories. However, the futures could proceed to a bearish correction if the upcoming EIA data reflect a rise in stockpiles. A stronger dollar could cap further gains in oil prices as well.

Tags: DOW JONESECBEURUSDFTSE 100NasdaqNikkeiOilStoxx 600
Share3Tweet2
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

German Chancellor Angela Merkel’s cabinet is considering holding a special meeting later’ this week

Investor optimism is waning amid mixed economic signals

June 8, 2020 11:02
14
Stocks mixed in muted trading at the start of the week

Global stocks, bonds a sea of red

January 19, 2022 05:08
10

A ‘double dip’ in the U.S. economy is ‘still possible,’ says former Fed official

August 27, 2020 14:34
10

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews