Global Stocks, US Futures Rise Despite Growing Political Tension In Europe

In a relatively quiet session, which may see US traders sleep in a bit after last night’s Superbowl thriller, European and Asian shares rose ahead of Mario Draghi’s testimony at the European Parliament, while US equity futures were fractionally higher (up 0.1% to 2,293) after stocks jumped the most in a week, as traders assessed the trajectory for interest rates while scrutinizing every new Trump tweet.
As Reuters highlights, there was no overarching theme to Monday’s market moves, highlighting how correlations between financial market assets have broken down in recent months as investors sense the era of ultra-loose monetary policy may be winding up. The European STOXX 600 index rose 0.2%, led higher by basics resources shares and after some positive company results. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6%, with Taiwan . TWII leading the pack by adding 0.9 percent. Japan‘s Nikkei rose 0.2%, with banks rising after U. S. Trump meets Japanese Prime Minister Shinzo Abe on Feb. 10 and 11, with trade and currencies likely to be on the agenda. China‘s CSI 300 index rose 0.3%, though investors were cautious after the central bank unexpectedly raised short-term interest rates on Friday.

This post was published at Zero Hedge on Feb 6, 2017.

 

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