· Dow futures rise around 200 points as stocks attempt to bounce back from losing week
U.S. stock futures moved higher in early morning trading on Monday as markets indicated a rebound from a losing week.
Investors are weighing updates on the Covid-19 vaccine rollout as well as the coronavirus stimulus stalemate in Washington.
Dow futures rose 196 points. S&P 500 futures and Nasdaq 100 futures also both traded in mildly positive territory.
Last week, stocks experienced their first down week in several as legislators continued a standoff surrounding a Covid-19 aid package.
· Asia-Pacific stocks mixed as investors react to Pfizer’s vaccine approval
Stocks in Asia-Pacific were mixed in Monday trade, as investors in the region react to the approval of Pfizer’s Covid-19 vaccine.
Mainland Chinese stocks were higher on the day: The Shanghai composite gained 0.66% to 3,369.12 while the Shenzhen component advanced 1.011% to 13,692.13. The Hang Seng index in Hong Kong dipped about 0.3%, as of its final hour of trading.
In Japan, the Nikkei 225 gained 0.3% to close at 26,732.44 while the Topix index rose 0.48% to end its trading day at 1,790.52.
In Southeast Asia, Singapore’s Straits Times Index led gains among the region’s major markets as it rose 1.5%. The country’s prime minister said in a Facebook post Sunday that he will be giving a live address on Monday at 5 p.m. Singapore time on the Covid-19 situation as well as the outlook for next year. The number of Covid-19 cases in the city-state has remained low for the past several weeks, with zero or one new case reported in its daily statistics.
Over in South Korea, the Kospi shed 0.28% to close at 2,762.20. South Korea has been dealing with a recent resurgence in coronavirus infections, with the country reporting its largest daily caseload ever on Sunday, according to local news agency Yonhap.
Shares in Australia edged higher on the day, with the S&P/ASX 200 up 0.26% to 6,660.20.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed.
In coronavirus developments stateside, CDC Director Robert Redfield has signed off on Pfizer’s Covid-19 vaccine, allowing inoculations to officially move forward for people ages 16 or older. That came following the FDA emergency authorization of Pfizer’s vaccine. The U.S. has begun to ship the doses to hundreds of distribution centers across the country.
· European markets open higher as Brexit trade deal talks continue
European stocks opened higher Monday as market focus remains on negotiations between the U.K. and EU on a post-Brexit trade deal.
The pan-European Stoxx 600 opened 0.8%, with banks climbing 1.8% to lead gains as almost sectors except healthcare entered positive territory.
Britain and the EU agreed on Sunday to keep negotiating over a Brexit trade deal, taking talks to the wire as key differences remain. Sterling bounced on the news, but U.K. Prime Minister Boris Johnson still warned businesses to be ready for a “no-deal” exit on Dec. 31 when the transition period ends.
Reference: CNBC, Reuters
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