Opening Bell: Trade Hopes Revive Global Stock Rally; Pound Rewards Brexit Shift

U.S. futures climb on reported trade deal progress; STOXX 600 triggers golden cross Asian and U.S. stocks complete bullish patterns Treasurys, yen, dollar drop; Oil hits 4-month high Pound rallies as U.K. PM May meets opposition leader to break Brexit impasse Key Events

Global equities and futures on the , and resumed a risk-on rally this morning, as U.S. Treasurys and the extended a selloff. China’s Vice Premier Liu He’s visit to Washington to continue trade talks swayed the sentiment-pendulum back to the hopeful side—a shift that was also helped by upbeat service sector readings from both Europe and China.

The climbed for a fourth day, after the eurozone hit its highest level since December. Automobiles and miners outperforming once again. Technically, the price posted a fresh short-term peak, extending the uptrend since the late December bottom, to reach the highest level since early August. Through the rally, the gauge’s 50 DMA crossed above the 200 DMA, triggering a golden cross.

In the earlier Asian session, regional indices closed higher, after the Financial Times reported that U.S. and China negotiators were close to reaching an agreement, having resolved “most of the issues standing in the way of a deal.”

China’s sealed a 1.24% advance after the country’s beat expectations, further feeding a rally in . Hong Kong’s came in second with a 1.22% gain, followed by South Korea’s , which climbed 1.2%. Japan’s added 0.97% and Australia’s rallied 0.68%.

Global Financial Affairs

In yesterday’s U.S. session, all four major indices ended off their lows. The was the only index to build on previous gains, edging 0.25% higher.

The closed flat, with strength in (+0.86%) and (+0.53%) offsetting a selloff in (-0.82%) and (-0.69%). Technically, the price paused of a bullish pattern.

Dow Jones Industrial Average Daily Chart

Read More Here...

Bookmark the permalink.