Shares are expected to enter the new year at a record high when Monday begins the first trading day of 2021. The incessant concentration of Bitcoin continued.
The S&P 500 index and the Dow Jones industrial average closed all-time highs on December 31st. Most markets around the world closed on January 1st. Bitcoin topped $ 34,000 on Sunday just weeks after surpassing another major milestone. The dollar opened mixed against its G-10 counterparts when negotiations began in Sydney. The pound fell as the UK faces a tighter blockade to slow the march of the coronavirus.
China’s actions will be focused, as can China’s major oil companies next on the U.S. withdrawal line in the United States after the New York Stock Exchange said last week that it would eliminate the three largest telecommunications companies in the Asian country. The Chinese benchmark CSI 300 closed the five-year high last week.
Equities begin the new year with rich valuations, amid expectations that widespread vaccine distribution in 2021, central bank support and government aid will revive economic growth and increase corporate profits. The MSCI global stock index ended at a record high after rising 14% last year.
Meanwhile, the frenzy of cryptocurrencies shows no signs of slowing down. Bitcoin advanced about 50% in December, the biggest monthly jump since May 2019.
OPEC warned of the risks of the oil market due to the resurgent pandemic, a day before the group and its allies met to consider another increase in production.
On the coronavirus front, vaccine deployment in the United States is increasing after a slow start and could be completely on track in a week or so, said Anthony Fauci, the country’s top infectious disease expert. New York cases slowed a day after the state went through a million infections in total. The Prime Minister of the United Kingdom, Boris Johnson, said that tougher blocking measures will probably be needed in England, including school closures, as cases of the new virus variant continue to rise.
What to see this week:
- OPEC + alliance energy ministers hold their monthly virtual meeting on Monday to decide whether to add up to 500,000 barrels a day to production.
- China Box will manufacture PMI on Monday.
- On Tuesday in the United States, the state of Georgia held a second election for two U.S. Senate seats that will decide control of the chamber.
- The U.S. Congress meets to count the election votes and declare the winner of the 2020 presidential election Wednesday.
- FOMC minutes on Wednesday.
- The December U.S. Unemployment Report is due Friday.
These are the main movements in the markets:
Stocks
- The S&P 500 index rose 0.6% on Thursday.
- Future Nikkei 225s were little changed before.
- Australian S & P / ASX 200 index futures fell 1.2% earlier.
- Hong Kong’s Hang Seng index futures fell 0.2% earlier.
Coins
- The yen was at 103.19 per dollar.
- The offshore yuan rose 0.1% to $ 6.4962.
- The Spot Bloomberg Dollar index rose 0.1% on Thursday.
- The euro rose 0.2% to $ 1.2240.
- The British pound fell 0.1% to $ 1.3662.
Good
- The ten-year Treasury yield fell one basis point to 0.91%.
Commodities
- West Texas crude oil changed little, with $ 48.52 a barrel.
- Gold was $ 1,898.67 an ounce.