Morning Briefing: Market sentiment lifts on Fed, oil

Morning Briefing: Market sentiment lifts on Fed, oil

Morning Briefing: Market sentiment lifts on Fed, oil Market sentiment lifts on Fed, oil
World markets are higher so far Monday as expectations of an early rate rise by the Fed weaken and oil prices gain again.

Asian markets have ended their session with gains; China’s equity markets are still closed for holidays until mid-week.

Europe is also trading with gains of around 2 per cent.

The TSX and Wall Street are expected to open higher.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 16,472.37 (+1.23 per cent) +2.30 per cent -3.16 per cent
TSX Composite 13,339.74 (+0.74 per cent) -1.03 per cent -9.80 per cent
 
Europe (at 6.25am ET)
UK FTSE 6,260.97 (+2.14 per cent) +3.61 per cent - 4.09 per cent
German DAX 9,767.35 (+2.24 per cent) -2.70 per cent +6.22 per cent
 
Asia (at close)
China CSI 300 3,202.95 (+0.76 per cent) -4.73 per cent +30.68 per cent
Japan Nikkei 18,005.49 (+1.58 per cent) +1.20 per cent +14.62 per cent
 
Other Data (at 6.25am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
48.83
(+1.43 per cent)
46.21
(+1.47 per cent)
1133.40
(-0.28 per cent)
U$0.7643
 
Aus. Dollar
U$0.7096
 
Oil gains as Russia says it will talk with OPEC
Russia’s oil minister said Monday that he would be willing to enter talks with OPEC about the current state of the oil markets. The country is one of the largest producers of crude and has been hit badly by the slump. Having been unwilling to cut output it now says it will talk with OPEC and other producers about the crisis. The news has helped lift oil prices again following data showing a further reduction in US rigs.
 
Rosengren says there will still be a rate rise this year
Friday’s lower-than-expected US jobs data has prompted many analysts to rule out a hike for interest rates until 2016 however one of the Fed’s senior officials says that it could still happen. Boston Fed CEO Eric Rosengren told Reuters that the economy as a whole is the focus and the September non-payroll data could be an anomaly. Rosengren would back a rate rise if the overall economy for the year is at less than a 2 per cent pace of growth or if unemployment rises from 5.1 per cent. He does not have a vote this year but will do in 2016.