Global shares edge up on news Trump signs aid bill

Global shares edge up on news Trump signs aid bill

By

Sources said that US President Donald Trump signed a 2.3 trillion dollar pandemic aid and spending plan that he has refused to sign so far. The news said global stock markets rose on Monday.

US Standard & Poor’s futures rose 0.4%.

After Trump sent a mysterious tweet, futures reversed their decline earlier. “Good news for the Covid Relief Act. Follow-up information”-helped offset concerns about further delays in stimulus spending.

It was later reported that he had approved the bill.

Japan’s Nikkei index edged up 0.4%. MSCI’s broadest index in the Asia-Pacific region outside of Japan rose 0.2%, and despite slow trading, many markets were still closed for holidays.

Masahiro Ichikawa, chief strategist at Sumitomo Mitsui DS Asset Management, said: “Considering that the government may be partially shut down, we are no longer confused about stimulus measures, which is good for the market.”

“But, on the other hand, the market has been talking about this stimulus for a long time, and I would say that most of the stimulus is already priced.”

Trump refused to sign the pandemic aid and spending plan passed by Congress into law, demanding increased stimulus checks on troubled Americans.

Trump threatened not to sign the plan, has closed an emergency unemployment assistance program, and threatened part of the federal government to shut down at midnight on Monday.

After Christmas, the U.S. Treasury yield rose slightly in its first transaction, and the 10-year U.S. Treasury yield rose by 0.6 basis points to 0.930%.

As Europe began mass vaccination on Sunday, the launch of the COVID-19 vaccine also boosted hopes for economic normalization next year.

This counteracted the alert of a new highly contagious virus that raged in southeast England and was confirmed by many other countries including Japan, France and Canada over the weekend.

The major currencies have not changed much.

The euro was quoted at 1.2204 US dollars against the US dollar, slightly lower than the 2-1/2-year high of 1.22735 US dollars, while the yen-US dollar exchange rate was quoted at 103.56 US dollars per dollar.

The pound was quoted at US$1.3565 against the US dollar, not far from the 2-1/2-year high of US$1.3625 after the UK and the EU reached a trade framework agreement at the beginning of this month.

Bitcoin expanded its earnings to a new high of $28,377.94 over the weekend, and then fell back to $26,457.32, bringing the total value of cryptocurrencies in circulation to more than $500 billion.

You may also like

%d bloggers like this: