Morning Briefing: Markets jump after Dow’s 20k

Morning Briefing: Markets jump after Dow’s 20k

Morning Briefing: Markets jump after Dow’s 20k Markets jump after Dow’s 20k
The Dow Jones’ historic rise above 20,000 in the previous session has seen world markets firmly in positive territory Thursday.

Meanwhile, a weaker US dollar has boosted currencies and helped oil prices.

Asian indexes closed their session with broad gains with Tokyo’s Nikkei up 1.81 per cent and the Hang Seng in Hong Kong up 1.41 per cent. Other regional indexes saw more moderate gains but sentiment was raised.

European markets are trending higher with better-than-expected UK GDP data and German consumer confidence index adding to the optimistic tone.

Wall Street and Toronto are expected to open higher. There’s a raft of US data due including the Advance Goods Trade Balance figures for December and homes data.
 
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North America (previous session)
US Dow Jones 20,068.51 (+0.78 per cent) +0.68 per cent +26.33 per cent
TSX Composite 15,643.84 (+0.21 per cent) +2.06 per cent +26.86 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,178.67 (+0.20 per cent) +1.56 per cent +21.44 per cent
German DAX 11,869.38 (+0.54 per cent) +3.66 per cent +20.84 per cent
 
Asia (at close)
China CSI 300 3,387.96 (+0.36 per cent) +1.97 per cent +15.22 per cent
Japan Nikkei 19,402.39 (+1.81 per cent) +0.03 per cent +16.12 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
55.30
(+0.40 per cent)
52.85
(+0.19 per cent)
1192.50
(-0.44 per cent)
U$0.7628
 
Aus. Dollar
U$0.7543

Oil prices up but supply issues remain
The turbulence for oil markets is not over yet despite optimism over the recently-implemented output caps.

While OPEC and other producers say that their agreed cuts are on target, the EIA says that US producers are boosting inventories which may mitigate the effects of the caps.

Current rises in prices are due to the weakened greenback, helping global customers to buy cheaper when exchange rates are factored in. This added demand may help ease supply glut fears.