• MTS Futures News_PM_20200505

    5 May 2020 | SET News
 

· Stock futures rose in early morning trading Tuesday as investors remained focused on the reopening of the U.S. economy.

Futures on the Dow Jones Industrial Average climbed 240 points, implying a Tuesday opening gain of around 173 points. S&P 500 and Nasdaq futures also pointed to a positive Tuesday start for the two indexes.

· Asian stocks rose on Tuesday, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.

Amid light trading volumes, with China, Japan and South Korea closed for public holidays, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.84%.

The gains were led by Australia’s ASX 200, which rose 1.42%. Hong Kong’s Hang Seng climbed 0.84%.

Michael McCarthy, chief market strategist at CMC markets, cautioned against reading too much into the day’s moves in Asia, with few meaningful leads for investors.

“While the rises are good to see, much of the region is still on holiday, and (Australian) volumes are down 10% and that means this won’t be too convincing for traders,” he said

· European stocks traded higher on Tuesday as investors take stock of the gradual opening of economies in Europe and beyond.

The pan-European Stoxx 600 climbed 1.7% in early trade, oil and gas stocks surging 4.5% to lead gains as all sectors and major bourses entered positive territory.


Reference: CNBC, Reuters

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