· Dow futures rise more than 100 points as Wall Street set to enter last week of 2020
Stock futures rose slightly in overnight trading on Sunday ahead of the final trading week of 2020.
Futures on the Dow Jones Industrial Average rose 149 points. S&P 500 futures and Nasdaq 100 futures also traded in mildly positive territory.
· Global shares edge up as Trump signs $2.3 trillion aid bill
Global shares climbed on Monday after U.S. President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package, backing down from his earlier threat to block the bipartisan bill.
Markets cheered the move as it will restore unemployment benefits to millions of Americans and avert a federal government shutdown in the world’s largest economy.
U.S. S&P futures rose 0.62% in their first trade after Christmas holiday, edging near a record touched last week.
The futures had earlier reversed losses after a cryptic tweet by Trump - “Good news on Covid Relief Bill. Information to follow” - helped offset worries about further delay in stimulus spendings.
Japan’s Nikkei inched up 0.74%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.20%, but trade is slow with many markets still closed.
· China stocks end higher on upbeat data
China stocks closed higher on Monday, helped by strong industrial profit data that underscored a continued recovery in the world’s second-largest economy.
The blue-chip CSI300 index rose 0.4% to 5,064.41, while the Shanghai Composite Index was flat at 3,397.29.
Profits at China’s industrial firms grew robustly in November for a seventh month of gains, supported by strong industrial production and sales, as manufacturers continue their recovery from the COVID-19 downturn.
Reference: CNBC, Reuters
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