EU Stocks Trade Lower, while Asian Stocks Rise

EU Stocks Trade Lower, while Asian Stocks Rise

 

Investors flee bonds and snap up commodities on economic recovery hopes, while European stocks trade lower.

The spread of COVID-19  vaccines gave many people a new wave of hope for a normal future. Investors are no exception. In fact, they have been quite vigorous in fleeing bonds and snap up commodities in hopes the rollout of COVID-19 vaccines will regenerate the global economy.  The result was lower EU stocks on Monday.

The yield on the benchmark 10-year Treasury TMUBMUSD10Y, 1.351%, rose as high as 1.39% in the wake of rising 14 basis points a week ago. The yield on the 10-year U.K. plated TMBMKGB-10Y, 0.689%, and German bund TMBMKDE-10Y, – 0.328% additionally expanded.

Technology-sector maker ASML Holding ASML, – 1.99% fell. The food-delivery companies that have been thriving during the lockdown have gone lower; for example, Hero DHER, – 3.49%, HelloFresh HFG, – 5.51%, and general store chain Ocado OCDO, – 2.58%.

After a minuscule rise of 0.2% last week, the Stoxx Europe 600 SXXP, – 0.70% drooped 0.7%. U.S. stock futures YM00, – 0.63% ES00, – 0.79% NQ00, – 1.50%.

 

Travel companies and airports like Aéroports de Paris ADP rose 1.52%.

 

Asian Markets Rise

Stocks gain in Hong Kong and Shanghai despite tech selloff on Wall Street.

Japanese business sectors were shut for a public holiday. South Korea’s Kospi 180721, 0.14% slipped 0.2% during the day trading while Australia’s S&P/ASX 200 XJO acquired 0.4%. Hong Kong’s Hang Seng HSI, +1.48%, bounced at 0.5%, while the Shanghai Composite SHCOMP, which was 0.34%, rose to 0.3%. Stocks fell in Taiwan Y9999, – 0.12% yet progressed in Singapore STI, +0.73%, while Indonesia JAKIDX, +0.07% was minimal changed.

On Wall Street, the S&P 500 SPX, – 0.77% fell 0.8% to 3,876.50. Apple AAPL, – 2.98% fell 3%, Microsoft MSFT, – 2.68% dropped 2.7%, Tesla TSLA, – 8.55% drooped 8.5% and Amazon AMZN, – 2.13% lost 2.1%.

The Dow Jones Industrial Average DJIA, +0.09% acquired 0.1% to 31,521.69. The Nasdaq COMP, – 2.46% lost 2.5% to 13,533.05.

 

 

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