European stocks may open higher on Thursday as investors react to positive economic data from China and Japan, and focus on prospects for increased fiscal spending in the United States.
China’s exports grew more than expected in December and import growth quickened, customs data showed today, adding to expectations of a reviving global economy.
Exports rose an annual 18.1 per cent in December, beating forecasts for 15 percent growth. Imports grew 6.5 percent from a year earlier, against expectations for a 5 percent rise.
Elsewhere, Japan’s core machinery orders, a leading indicator of capital expenditure, unexpectedly rose for a second straight month in November.
On the coronavirus vaccine front, trial data published in the New England Journal of Medicine reportedly showed Johnson & Johnson’s experimental one-shot Covid-19 vaccine generated a long-lasting immune response in an early safety study.
Asian stocks are trading mixed after Donald Trump was impeached by the U.S. House for a historic second time.
Senate Majority Leader Mitch McConnell has said the Senate will not begin a trial until next Tuesday, at the very earliest, which is the day before Democrat Joe Biden is sworn in as president.
Gold prices fell and the dollar extended its rebound from near three-year lows versus major peers as investors await Joe Biden’s proposals for a new stimulus plan as well as comments by Federal Reserve Chair Jerome Powell. Oil eased for a second day on concerns over mounting coronavirus cases globally.
U.S. stocks closed mixed overnight as investors awaited further stimulus support from the government and the House of Representatives started a debate over the article of impeachment against the outgoing President.
The Dow Jones Industrial Average finished marginally lower. The S&P 500 inched up 0.2 percent and the tech-heavy Nasdaq Composite rose 0.4 percent as Treasury yields stabilized.
European markets inched higher on Wednesday as stimulus hopes and faith in massive Covid-19 vaccination efforts in many countries helped offset rising coronavirus cases and tighter lockdowns in the region.
The pan European Stoxx 600 edged up 0.1 percent. The German DAX gained 0.1 percent and France’s CAC 40 index added 0.2 percent while the U.K.’s FTSE 100 slipped 0.1 percent.
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