On Thursday, despite the fact that the stock market fell by an average of 1% concerning the news on Biden’s plans to raise the capital gains tax, the market rebounded very strongly on Friday, showing that investors continue to believe in rising indices. Also, the S&P 500 index was able to update its historical maximum.
Last week, oil prices fell sharply because of the news that the U.S. is drafting an anti-trust bill against OPEC. The U.S. government does not like OPEC’s restrictions on oil production. The price was decreased by 3% concerning the news on the huge imbalance of aggressive selling. And if the price goes below 60.50 (CL futures), the oil local downtrend is likely to continue. The OPEC+ meeting is expected to take place this week, and it will probably determine the oil’s fate, whether the uptrend in oil will continue or not.
Asia-Pacific stock markets closed Friday’s trading with upward movement, reacting optimistically to Chinese President Xi Jinping’s ecology-related statements. But Japan’s index declined because of the expectations of new “coronavirus” economic losses.
Main market quotes:
- S&P 500 (F) 4,180.17 +45.19 (+1.09%)
- Dow Jones 34,043.49 +227.59 (+0.67%)
- DAX 15,279.62 -40.90 (-0.27%)
- FTSE 100 6,938.56 +0.32 (+0.0046%)
- USD Index 90.76 -0.1 (-0.11%)
Important events:
- US Core Durable Goods Orders at 15:30 (GMT+3).
