November has been a strong month for investors globally, with positive vaccine development news and economic recovery hopes leading to gains in stocks. The Dow is set for its best monthly performance since January 1987 and the S&P 500 and the Nasdaq are on track to clock their best performance since April.
Markets have shed gains on the last day, with the Dow futures down 0.82% on the last check Monday and the S&P 500 futures down 0.65%. WTI crude futures are trading lower by 1.67% to $44.47 and the gold futures are down 0.26% at $1,783.40. Ten-Year Treasury yield is down 0.8 bps at 0.834%.
Asia: Japan’s Nikkei 225 closed lower by 0.79%, posting the best monthly performance in 27 years. Japan’s industrial production grew 3.8% month-over-month in October, while its housing starts fell 8.3% year-over-year. Unemployment, capital spending, and manufacturing PMI data is due to release today.
China’s Shanghai Composite benchmark declined 0.49% but clocked a 5% gain in November. Chinese manufacturing PMI and non-manufacturing PMI improved to 52.1 and 56.4 respectively in November, beating the consensus. The Chinese HSBC Manufacturing PMI data is scheduled to release today.
Hong Kong’s Hang Seng fell 1.79% on Monday, ending November with a 9.56% gain.
Australia’s S&P/ASX 200 fell 1.26% in Monday’s close but gained 10% in November. The Melbourne Institute inflation gauge rose 0.3% MoM in November. Company gross profits for third-quarter data showed 3.2% QoQ growth, lower than expected growth of 4.5%. Housing credit grew 0.3% in October, while private sector credit growth remained flat. Australia has a busy economic calendar today that includes the Reserve Bank of Australia’s interest rate decision.
India’s Nifty 50 index is closed for a holiday. Nifty is up 11.39% in November.
South Korea’s KOSPI shed 1.60% on Monday but gained 14.3% in November. South Korea’s industrial production activity fell 2.2% YoY in October, and its retails sales fell 0.9% MoM. GDP and trade balance data is due later today.
Europe: Euro Stoxx 50 is trading lower by 0.25% on the last check Monday with a focus on Brexit negotiations. The index has gained a stellar 18.94% in November. European Central Bank members are scheduled to speak today.
London’s FTSE 100 index has gained 0.29% at press time Monday — on track for a record November, advancing 14.49% thus far. Consumer credit and mortgage approvals data is due for release today.
Germany’s DAX is trading higher by 0.10%, on track to gain more than 15% in November. The nation’s November consumer price index data is scheduled to release today.
France’s CAC 40 is down by 0.31% at publication time, set to clock more than 21% gain in November.
Spain’s IBEX 35 is trading lower by 0.97%, slated for more than 25% gains in November. Spain’s consumer price index grew 0.2% MoM but fell 0.8% YoY. The harmonized index of consumer prices fell 0.9% YoY, slightly higher than the expected 0.8% fall.
Forex Trading: U.S. Dollar Index futures are down by 0.12% at 91.688. The dollar has weakened by 0.14% against the Euro to $1.1979, and it has lost 0.15% against the Sterling Pound to 1.3334, but gained 0.15% against the Japanese Yen to ¥104.23.
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