Asia Pacific stocks were mostly down Monday morning, even as optimism over the U.S.’ $1.9 trillion stimulus package and hopes for a global economic recovery from COVID-19 grew. The Shanghai composite is down 1.32% at 3,455.54. Overall, the Singapore MSCI up 0.88% at 348.75. Over in Hong Kong, the Hang Seng Index down 0.84% to 28,648. In Japan, the Nikkei 225 down 0.17% at 28,700, while the Topix index is down 0.08% at 1889.5. South Korea’s Kospi down 0.98% to 2996.91. Australia S&P/ASX 200 up 0.43% at 6739.6.
European equities Friday closing. The DAX futures contract in Germany traded 0.97% down at 13920.69, CAC 40 futures down 0.82% at 5782.7 and the UK 100 futures contract in the U.K. down 0.31% at 6,630.5.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.85% up at 31496.3 the S&P 500 up 1.95% to 3841.9 and the Nasdaq 100 down 0.79% at 12555.3, NYSE closes at 15251.83 up 1.95%.
In the Forex market, GBPUSD up 0.01% at 1.38321. The USDJPY up 0.03% at 108.394. The USDCHF up 0.18% at 0.93172. EURUSD up 0.03% at 1.19113, EUR/GBP up 0.07% at 0.86111. The USD/CNY up 0.17% at 6.5054, at the time of writing.
In the commodity market U.S Gold futures up 0.50% at $1,706.92. Elsewhere, Silver futures up 1.43% to $25.596 per ounce, Platinum up 0.66% at $1137.89 per ounce, and Palladium up 0.64% to $2,356.50.
Crude Oil up on Monday; Brent crude oil up 1.94% to $70.90 barrel while U.S. West Texas Intermediate (CLc1) is up 2.67% at $65.79.
In the Cryptocurrency Markets, BTCUSD at 50613.71 down 0.69%, Ethereum at 1740.30 up 0.75%, Litecoin at 190.12 down 0.26%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
GAP Inc. up 7.604% at $27.31, ORACLE Corp. up 6.645% at $69.97, CARNIVAL Corp. down 4.781% to $26.09, TESLA Inc. down 3.78% to $597.95, MICRON Tech. up 5.455% to $88.93, MODERNA Inc. down 0.083% at $132.19.
US: President Joe Biden said on Saturday that Senate passage of his $1.9 trillion coronavirus aid bill means that $1,400 payments to most Americans will start to go out this month and the bill’s provisions will speed up manufacturing and distribution of vaccines.
Biden, speaking at the White House after the American Rescue Plan bill passed the Senate on a party-line 50-49 vote, said that over 85% of American households will receive payments, with a couple with two children making $100,000 annually receiving about $5,600.
Eurozone: Italian Prime Minister Mario Draghi’s government is facing criticism for hiring consulting giant McKinsey to help it rewrite plans for spending the European Union funds aimed at rebuilding the economy.
The government said on Saturday it had signed a 25,000-euro ($30,000) contract with McKinsey to look at the issue. It did not give details of how much work the firm would do, but the sum is very small by the standards of consulting firm costs.
An Italian official told Reuters that McKinsey was willing to work pro bono but the government insisted that they have at least expenses paid.
A representative for McKinsey had no comments.
Draghi, a former president of the European Central Bank with no political affiliation, took office last month after the collapse of the previous coalition. A first priority is to redraft Italy’s Recovery Plan, which must be handed to the European Commission by April to tap more than 200 billion euros of EU funds and revive the pandemic-hit economy.
Important Data: German Industrial Production (MoM) (Jan) today at 2:30 this time estimated 0.2%, previously which was 0.0%. JAPAN Household Spending (YoY) today at 18:30 previously which was -0.6%. JAPAN GDP (QoQ) (Q4) today at 18:50 this time estimated 3.0%, previously which was 3%. UK BRC Retail Sales Monitor (YoY) (Feb) today at 19:30 previously which was 7.1%.
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WTI CRUDE OIL
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