Global Markets Report - 12 November
ASX set to open higher, after US benchmarks started the week positively.
Australia
Australian shares are set to open higher, after US benchmarks started the week positively.
ASX futures were up 0.04% or 4 points as of 8:30am on Tuesday, suggesting a higher open.
US blue-chip stocks led advancers to start the week with the Dow Industrials climbing above 44,000. Consumer discretionary and financial sectors rallied on expectations of policies from a new Trump administration. Bond markets were closed for Veterans Day. Tesla gained 9.1%, Trump Media & Technology Group added 4.7% and bitcoin surged above $84,000. Cigna rose 7.3% after saying it wasn't seeking to buy Humana, while AbbVie slid 13% after its experimental schizophrenia drug failed in trials. DJIA gained 304 points, or 0.7%, to 44,293, the S&P 500 gained 0.1% to 6,001, while the Nasdaq rose 0.1% to 19,298.
In commodity markets, Brent crude oil was down 2.6% to US$71.94 a barrel, while gold was down 2.4% to US$2,621.17.
The Australian dollar was at 65.70 US cents, down from its previous close of 65.82.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index rose 0.5% to 3,470.07, and the Shenzhen Composite Index added 1.9% to 2,133.57.
Hong Kong shares ended lower. The benchmark Hang Seng Index lost 1.5% to 20,426.93.
Japanese shares closed higher. The Nikkei Stock Average gained 0.1% to 39,533.32.
India shares ended flat. The BSE SENSEX was unchanged at 79,496.15.
Europe
Stocks in the U.K. finished higher. The FTSE 100 Index increased 1.7% to 8,125.19.
In Europe, shares closed higher. Germany's DAX rose 1.2% to 19,448.60, and France's CAC 40 added 1.2% to 7,426.88.
North America
U.S. stocks ended higher. The DJIA gained 0.7% to 44,293.13, the S&P 500 increased 0.1% to 6,001.35, and the Nasdaq rose 0.1% to 19,298.76.
Among S&P 500 companies, the top three gainers were Bristol-Myers Squibb Co, surging 10.33%, Albemarle Corp jumped 9.19%, and Tesla Inc lifted 8.58%.
The biggest decliners were Monolithic Power Systems Inc which dropped 15.47%, AbbVie Inc fell 12.57%, and Moderna Inc lost 8.86%.