Reply To: Traders Market Weekly: The Fed’s Fight Against Inflation

#38092
Truman
Participant

The global equity markets are off to a strong start to the week. S&P Futures are up about 40 points to trade around the 4148 area. The market has seen a steady bid throughout the overnight session. The low was established early at 4104.50. Spoos have just recently come off the high of 4156.50.

In Asia, both China and Japan advanced on Monday. The Shanghai Composite took flight after Beijing loosened COVID-19 lockdowns and chatter emerged of possible tariff cuts with the US. In Japan, the Nikkei was supported by reports that the government was mulling a restart to its “Go To Travel” program. This helped names such as ANA Holdings, West Japan Railway and East Japan Railway gins 3-5%.

In Europe, the major bourse are trading higher by over 1%. Financials are among the leaders this morning with lenders such as Commerzbank, Deutsche Bank and Societe Generale up 3-4%. With Covid restrictions lifting in China, luxury retailers such as LVMH and Kering are advancing by 1-2%.