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Market Overview
Markets give a Round of Applause to the Europe Agreement and a Possible Vaccine
Yesterday
was marked by a reversal of market sentiment. The day started out with a
feeling of risk aversion, but ended with the possible conclusion of the negotiations
on the European recovery fund, as well as with positive expectations regarding
an Oxford vaccine, which is most probably the cause of greater confidence in
the markets.
The
Stoxx600, an index that aggregates the 600 highest quoted shares in the Old
Continent, closed at 0.75% to 375.51 points. The US indexes appreciated, with a
rise of the Dow Jones by 0.03% while the
S&P500 appreciated by 0.77% and the Nasdaq rose by 2.51%.
Treasury yields
were up compared to the minimum of the day with investors following the
developments on the fiscal stimulus packages by the US and European Union
leaders.
Oil has
advanced most probably because of the expectations about a vaccine for
Covid-19. However, market expectations may continue to be hampered by fears about
the pandemic's impact on the global economy and demand for oil.
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