After President Donald Trump’s remarks, hopes of another Fed rate decrease and growing optimism that the US and China are getting closer to a trade deal boosted global markets Monday morning. Additionally, the optimism bolstered stock exchanges worldwide and erased gains in safe-haven assets like gold futures.
However, the major European benchmark indexes opened almost unchanged, except for Milan’s FTSE MIB, which rose 0.61%. By approximately 11:00 CEST, the Madrid IBEX 35 went up 0.37% as well.
Meanwhile, the London-based FTSE 100 and the European benchmark STOXX 600 stayed relatively steady. Frankfurt’s DAX increased by 0.15%, whereas Paris’ CAC 40 fell by less than 0.1%. The move followed Moody’s, a credit rating agency, shifting France’s outlook from stable to negative on Friday.
On Monday, pre-market trading for US futures was largely positive globally. This occurred as Asian stocks also saw a surge, with the Nikkei 225, the benchmark for Japan, surpassing 50,000 for the first time.
To discuss the trade agreement between the two largest economies in the world, the US President is due to meet with Chinese leader Xi Jinping later this week on the sidelines of the Asia-Pacific Economic Cooperation summit, or APEC.
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